Excedr raises $25 million in growth capital to expand its life sciences equipment leasing platform
Excedr, Inc. has announced the closing of $25 million in growth capital, which includes a $17 million senior credit facility from BOK Financial and $8 million in equity from existing investors and global single-family offices. The financing is intended to support the company's expansion within the life sciences and healthcare industries.
The credit facility from BOK Financial consists of a revolving line of credit and a term loan designed to enhance Excedr's equipment leasing portfolio, allowing the company to meet the increasing demand for flexible, non-dilutive financing solutions.
Excedr has positioned itself as a trusted partner for both emerging biotech firms and established industry players, relying on strong relationships with leading original equipment manufacturers (OEMs) such as Danaher, Sartorius, and Bio-Rad. The company's unique approach combines scientific expertise with flexible financing and comprehensive equipment support, enabling customers to access essential equipment while preserving capital and enhancing research productivity.
Reed Upson, Senior Vice President of Asset-Based Lending at BOK Financial, expressed enthusiasm about the partnership, stating that Excedr has developed a distinct platform serving a high-quality customer base across the life sciences sector. He noted that the company's robust OEM relationships and disciplined underwriting approach position it well for further growth.
Jon Chee, Co-founder and CEO of Excedr, stated that the acquisition of this growth capital is a significant milestone for the company. He highlighted that the support from BOK Financial and other investors will enable Excedr to expand its equipment portfolio and strengthen OEM partnerships, ultimately facilitating broader access to critical laboratory equipment for researchers in the life sciences and healthcare fields.
The transaction occurs at a pivotal moment for the life sciences industry, as organizations are increasingly seeking flexible, non-dilutive financing options that allow them to enhance their research and development efforts without significant capital outlay.