LONDON & LOS ANGELES--(EON: Enhanced Online News)--Crescent Capital Group LP, a leading alternative credit investment firm, announced today that its European Specialty Lending strategy provided a unitranche financing for the management buyout of ChargePoint Technology, which was supported by a multi-million-pound investment from private equity firm LDC.
“We are excited to begin the new year by completing this transaction and continuing to provide flexible capital to middle market companies.”
Headquartered in Liverpool, U.K., ChargePoint is a high-growth manufacturer and supplier of specialist high containment and sterile transfer valves to the largest global pharmaceutical, bio-pharmaceutical and chemicals companies. Its patented technology is used in the development and manufacture of medicines and vaccines, and facilitates the safe transfer of highly-potent and sterile powders. Terms of the transaction were not disclosed.
“This financing and the investment from LDC will be instrumental to the continued growth of ChargePoint, which is a market leader in providing operator safety and sterility assurance for the pharmaceutical industry,” said Christine Vanden Beukel, Managing Director and head of Crescent’s European Specialty Lending strategy. “We are excited to begin the new year by completing this transaction and continuing to provide flexible capital to middle market companies.”
About Crescent Capital Group
Crescent Capital Group LP is headquartered in Los Angeles with offices in Boston, London and New York. With over 70 investment professionals and more than 150 employees, the firm invests at all levels of the capital structure, with a significant focus on below investment grade credit through strategies that invest in senior bank loans, high yield debt, mezzanine debt, distressed debt and other private debt securities. As of September 30, 2016, Crescent Capital Group LP managed more than $23 billion in assets, with a relatively equal split between marketable securities and privately originated debt investments.
Notes to editors:
1. LDC is part of Lloyds Banking Group and is authorised and regulated by the Financial Conduct Authority.
2. LDC backs ambitious management teams from UK-based companies seeking up to £100m of equity for management buy-outs, institutional buy-outs or development capital transactions.
3. LDC is celebrating its 35th anniversary and has completed more than 550 investments since 1981.
4. LDC has a portfolio of more than 90 businesses across the UK which collectively generates £6bn of revenues and employs in excess of 37,000 people.
5. LDC invests in a broad range of sectors and has particular experience in Construction & Property, Financial Services, Healthcare, Industrials, Retail & Consumer, TMT, Travel & Leisure and Support Services.
6. LDC has committed to invest £1.2bn in UK mid-market businesses over the next three years.
7. Over the last three years (2014-16), LDC has invested over £1bn of equity and generated exit proceeds of more than £2bn.
8. LDC is the leading private equity company in the UK mid-market. Recent transactions include investments with Ellis Whittam, PAW, Team17, ByBox, Adey, CMS Enviro, Magicard and Giacom.
9. LDC has a UK regional network with offices in Aberdeen, Birmingham, Bristol, Cardiff, Leeds, London, Manchester, Nottingham and Reading.
10. For further information, visit www.ldc.co.uk/pressrelease.