Golub Capital announced that, as Administrative Agent and Lead Arranger, it provided senior secured credit facilities to support a growth investment in Krueger-Gilbert Health Physics (KGHP) and Apex Physics Partners (Apex) by Blue Sea Capital.

The financing will be used to support KGHP’s continued expansion in existing markets, and to explore partnerships in new geographic regions through Apex, a newly-formed business support organization created to support the platform.

Based in Towson, MD, KGHP is an outsourced provider of diagnostic medical physics services throughout the Mid-Atlantic U.S., including hospitals, imaging centers and other physician offices. The company employs credentialed medical physicists that perform mandated periodic compliance testing of diagnostic imaging equipment in its customers’ facilities. KGHP’s services are essential to optimizing radiation doses to protect patient and clinician safety, improving diagnostic image quality and ensuring customers’ facilities are operating in full compliance with regulatory requirements.

“KGHP is a market-leading provider of an essential service to the Mid-Atlantic medical community, and we’re excited to support its growth within this region and beyond,” said Troy Oder, Managing Director on Golub Capital’s Middle Market Lending team. “The KGHP team has done an excellent job of building an impressive enterprise in collaboration with industry-leading medical physicists. We believe that Blue Sea is uniquely positioned to support the expansion of the platform based on its extensive knowledge of the healthcare services industry.”

“Once again, Golub Capital has proven to be a flexible and reliable financing partner throughout our investment process,” said J.R. Davis, Managing Partner at Blue Sea Capital. “Golub moved quickly and definitively to structure a tailored financing solution that was directly responsive to our investment needs. We are confident in Golub’s ability to scale alongside the platform as we execute our growth strategy.”

About Golub Capital Middle Market Lending

Golub Capital’s Middle Market Lending group provides financing for middle market, private equity-backed transactions with hold positions of up to $600 million and is an arranger of credit facilities up to $1 billion. Golub Capital’s award-winning team specializes in delivering reliable, creative and compelling financing solutions to U.S. middle market companies backed by private equity sponsors. Golub Capital is a market-leading, award-winning private debt platform with over $30 billion of capital under management. The Middle Market Lending team has particular domain expertise in select industries, including software, technology services, healthcare, consumer and restaurant and retail. The firm’s credit expertise also forms the foundation of its Late Stage Lending business and its Broadly Syndicated Loan investment program. Across its activities, Golub Capital nurtures long-term, win-win partnerships that inspire repeat business from its private equity sponsor clients and investors. Founded in 1994, Golub Capital today has over 400 employees and lending offices in Chicago, New York and San Francisco. For more information, please visit golubcapital.com.

About Blue Sea Capital

Blue Sea Capital (www.blueseacapital.com) is a private equity firm based in West Palm Beach, Florida, that invests in growth-oriented lower middle market companies valued up to $200 million. The firm has over $450 million in assets under management and invests across three industry verticals: aerospace & defense, healthcare and industrial growth. Blue Sea Capital’s strategy is to partner with talented managers and differentiated companies, typically as the first or second institutional investor, and deliver strategic and operational value-add that drives growth acceleration, industry outperformance and business transformation.

About Krueger-Gilbert Health Physics

Founded in 1987 and headquartered in Towson, Maryland, Krueger-Gilbert Health Physics (www.kruegergilbert.com) is a market-leading, full-service, comprehensive diagnostic medical and health physics consulting group. KGHP’s client-focused team of physicists provides critical compliance services to some of the most progressive hospitals, imaging networks, private practices and research facilities nationwide.