LONDON & LOS ANGELES--(BUSINESS WIRE)--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 unitranche financing for the acquisition of Dalepak, the UK-based tech-enabled outsourced logistics provider, by Sovereign Capital, a UK-based private equity firm. Terms of the transaction were not disclosed.
“We are thrilled to be a part of this transaction, which will enable Dalepak to expand its market-leading supply chain services to its increasing client base that spans a diverse range of industries including cosmetics, electronics, manufacturing and e-commerce retailers,” said Christine Vanden Beukel, Managing Director and head of Crescent’s European Specialty Lending strategy. “This transaction marks the ninth investment for the Crescent European Specialty Lending strategy and our second with Sovereign Capital. This steady transaction volume and repeat business reflects the strength of our European Lending strategy and our ability to meet the financing needs of sponsors in the region.”
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 more than 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 December 31, 2015, Crescent Capital Group LP managed more than $18 billion in assets, with a relatively equal split between marketable securities and privately originated debt investments.
About Sovereign Capital
Sovereign Capital, the UK private equity Buy & Build specialist, has a strong track record and specific expertise in the service based sectors of healthcare, business support services and education & training. Since being established in 2001, Sovereign has completed more than 240 Buy & Build transactions.