Crescent European Specialty Lending Announces Financing for Acquisition of Spandex by Chequers Capital

LONDON & LOS ANGELES--()--Crescent Capital Group LP, a leading investment firm focused on below investment grade credit, announced today that its Crescent European Specialty Lending strategy provided the subordinated financing for Chequers Capital’s acquisition of Spandex, a Switzerland-based leading distributor of graphic media and equipment to the signage and visual communication industry, from funds advised by Gilde Buy Out Partners. Terms of the transaction were not disclosed.

“We are delighted to have been able to support Chequers Capital, one of Europe’s leading investors in middle market companies, in this transaction for the acquisition of Spandex as the company enters its next phase of growth,” said Christine Vanden Beukel, Managing Director and head of Crescent’s European Specialty Lending strategy. “This transaction further demonstrates the strength of our European Lending Strategy as it continues to meet the growing demand for capital among middle-market companies and their need for experienced lenders.”

About Crescent Capital Group

Crescent Capital Group LP is headquartered in Los Angeles with offices in Boston, London and New York. With approximately 70 investment professionals and over 130 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 June 30, 2015, Crescent Capital Group manages approximately $18 billion in assets, with a relatively equal split between marketable securities and privately originated debt investments.

About Chequers Capital

Chequers Capital, established in 1972, is one of the leading European investors in private, mid-sized companies. Chequers, with c.€1.8 billion funds under management, operates with a team of 18 professionals out of offices in Paris and Munich and focuses on investments in buy-out situations with an emphasis on international expansion and growth through acquisitions. For more information, please visit www.chequerscapital.com.

Contacts

Crescent Capital Group
Mendel Communications
Bill Mendel, +1-212-397-1030
bill@mendelcommunications.com
or
Chequers Capital
Karsten Hartmann, +49 89 4520 6950
Director
khartmann@chequerscapital.com

Contacts

Crescent Capital Group
Mendel Communications
Bill Mendel, +1-212-397-1030
bill@mendelcommunications.com
or
Chequers Capital
Karsten Hartmann, +49 89 4520 6950
Director
khartmann@chequerscapital.com