LONDON & LOS ANGELES--(BUSINESS WIRE)--Crescent Capital Group LP, a leading alternative credit investment firm, announced today that its European Specialty Lending strategy has provided a senior term loan to 3B Scientific, the world’s leading manufacturer and marketer of anatomical and biological teaching aids for medical simulation, healthcare and patient education, and science. Terms of the transaction were not disclosed.
3B Scientific was acquired in January 2017 by J. H. Whitney Capital Partners, LLC in an all-equity transaction.
“We are very pleased to work with J. H. Whitney Capital Partners and to support 3B Scientific as it continues to grow its position as a leader in the global healthcare education sector,” said Christine Vanden Beukel, Managing Director and head of Crescent’s European Specialty Lending strategy. “This transaction will give 3B Scientific a flexible capital structure that complements the company’s financial strategy and supports its next phase of growth.”
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, 2017, Crescent Capital Group LP managed more than $25 billion in assets, with a relatively equal split between marketable securities and privately originated debt investments.
About 3B Scientific
3B Scientific was founded in 1948 in Hamburg, Germany and has grown to be the world’s leading manufacturer of anatomical and biological teaching aids for science, healthcare and patient education. Represented in over 100 countries worldwide, the brand name 3B Scientific® stands for best quality, best value, and best service. To learn more about 3B Scientific, visit: www.3bscientific.com.
About J. H. Whitney
J. H. Whitney, established in 1946 by the industrialist and philanthropist, John Hay “Jock” Whitney, was one of the first U.S. private equity firms and is often credited with pioneering the development of the private equity industry. Today, J.H. Whitney Capital Partners, LLC remains privately owned by its investing professionals and the main activity is to provide private equity capital to small and middle market companies with strong growth prospects in a number of industries including healthcare, consumer, and specialty manufacturing. For more information, please visit www.whitney.com.