CHICAGO and JERSEY CITY, N.J., June 19, 2019 (GLOBE NEWSWIRE) -- Granite Creek Capital Partners, L.L.C., a private investment firm based in Chicago, today announces its investment in Royal Biologics, a medical device company focused on the growing regenerative medicine sector. The company, a leading manufacturer and distributor of devices used in stem cell and other surgical procedures, develops, licenses, produces and distributes biologics, orthobiologics and orthopedic implant products. Royal is the first healthcare investment of Granite Creek’s FlexCap II private investment fund.
With this investment from Granite Creek, Royal Biologics will accelerate the onboarding of new employees, expand operations, advance product development and innovations, and pursue strategic acquisitions. Jim Clark and Mark Radzik, Partners at Granite Creek, will serve on the Board of Royal Biologics.
With its recently closed $200 million FlexCap II fund, Granite Creek expects to invest in a total of 15-20 companies engaged in manufacturing, business services, healthcare and agribusiness. Granite Creek plays an active role with the leadership of its portfolio companies and serves as a company’s trusted advisor and partner.
“Salvatore Leo and Demetri Soteropoulos, the founders and leaders of Royal Biologics, have built an exceptional business that stands out for its innovations and service,” said Mark Radzik, Partner at Granite Creek. “We are proud to partner with such a results-driven organization and look forward to supporting the company’s continued investments in its product portfolio, distribution network, and management team as it reaches its next stage of growth.”
“As we explored solutions to enhance our growth, Granite Creek emerged as the ideal partner,” said Salvatore Leo, CEO at Royal Biologics. “Their custom approach to structuring a growth capital solution combined with a track record in helping scale companies while working hand-in-hand with entrepreneurs align with our values and our company’s needs. I am incredibly excited about the future of our partnership.”
About Royal Biologics, LLC
Royal Biologics is a leading medical device and biologics company located in Jersey City, NJ. The company sells branded and licensed orthobiologics and stem cell therapy devices, and serves as the sales representatives for multiple spinal implant hardware product lines. Some of Royal’s branded products include Maxx-Cell, a proprietary bone marrow aspirate needle, and Amnio-Maxx, amniotic fluid and / or dual layered tissue used in spine and orthopedic procedures to promote wound healing and the regeneration of healthy tissue. For more information, please visit https://royalbiologics.com/
About Granite Creek Capital Partners, L.L.C.
Founded in 2005, Granite Creek Capital Partners, L.L.C. is a Chicago-based private investment firm focused on providing capital and operational resources to lower middle market companies engaged in manufacturing, business services, healthcare, and agribusiness. With an experienced team of investment professionals bringing expertise in banking, private equity, operations and business development, Granite Creek has a successful track record of investing in and supporting its portfolio companies. In addition to providing funding to lower middle market companies, in 2011, Granite Creek co-founded Renovo Financial, one of the largest regional private lenders serving real estate entrepreneurs. For more information on Granite Creek, visit www.granitecreek.com or call 312-895-4500.
About Bentley Associates L.P.
Bentley Associates, L.P., a New York-based boutique investment bank, acted as the financial advisor to Royal Biologics in this transaction. For more information, please visit http://www.bentleylp.com/
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Lisa Hendrickson/Erin Zeitler, LCH Communications