LONDON & LOS ANGELES--(BUSINESS WIRE)--Crescent Capital Group LP, a leading alternative credit investment firm, announced today that its European Specialty Lending strategy provided a unitranche financing for the acquisition of Aston Barclay by Rutland Partners earlier this month.
Aston Barclay is the United Kingdom’s leading independent car auction group, with four sites currently operating across the UK. Headquartered in Chelmsford, the business provides vehicle remarketing services to fleet and dealership vendors and has been owned by the Scarborough family since 1984.
“Aston Barclay is at an exciting stage of growth as it plans new auction sites and significant IT systems investments, and Crescent’s financing for this acquisition will be invaluable to the success of the company’s future,” said Christine Vanden Beukel, Managing Director and head of Crescent’s European Specialty Lending strategy. “This transaction is representative of the flexible capital we are able to provide 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 March 31, 2017, Crescent Capital Group LP managed approximately $24 billion in assets, with a relatively equal split between marketable securities and privately originated debt investments.
About Rutland Partners
Rutland Partners is a leading private equity investor with over twenty five years’ experience in investing in and supporting UK based companies. The value of investee companies will usually range from £20 million to £150 million with Rutland committing between £10 million and £50 million per investment. Rutland has raised over £700 million in committed capital across three funds: Rutland Fund I, Rutland Fund II and its latest fund Rutland Fund III (£263m). Rutland Partners LLP is authorised and regulated by the Financial Conduct Authority. Rutland is also a member of the British Venture Capital Association. For more information on Rutland, please visit www.rutlandpartners.com.