Prospect Recapitalizes VanDeMark With $31M Financing

Law360, New York (January 3, 2012, 6:03 PM EST) -- Mezzanine debt provider Prospect Capital Corp. has lent $31 million to VanDeMark Chemical Inc., money that will recapitalize the agricultural and pharmaceutical chemical maker owned by private equity firm Buckingham Capital Partners, Prospect said Tuesday.

Lockport, N.Y.-based VanDeMark makes phosgene and phosgene derivatives, which are used in removing moisture during the manufacture of adhesives, sealants, paints and coatings.

The company was called Isochem Inc. when it was purchased from France's Groupe SNPE by Buckingham Capital Partners II LP in June 2007 and subsequently renamed, Prospect noted....
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