LONDON & LOS ANGELES--(BUSINESS WIRE)--Crescent Capital Group LP, a leading alternative asset management firm, announced today that its European Specialty Lending strategy has provided a unitranche facility to support the refinancing of DMC Group, a leading global platform of needlecraft brands and a portfolio company of Lion Capital. In addition, Crescent has provided an acquisition facility to further support strategic M&A. Terms of the financing were not disclosed.
Lion Capital is a consumer-focused private equity investor and since inception has supported the growth of over 180 world-renowned consumer brands including Weetabix, Jimmy Choo, AllSaints, Loungers and Grenade.
“We are proud to support Lion Capital and DMC Group on this refinancing, which we believe will continue to support the company’s strong growth trajectory as the preeminent leader in needlecraft brands,” said Christine Vanden Beukel, Managing Director and head of Crescent’s European Specialty Lending strategy. “This transaction continues to demonstrate Crescent’s ability to provide flexible financing for innovative, market-leading companies.”
Founded in Mulhouse, France in 1746, DMC Group is a UK-headquartered leading global platform of iconic needlecraft brands. The business manufactures and supplies a range of high-quality products for the hobbycraft market to support embroidery, knitting and crotchet activities. The DMC Group has evolved from its initial roots within embroidery through the acquisitions of Wool and the Gang, a digital-led direct-to-consumer knitting brand, and Sirdar and Rowan, two highly renowned premium knitting brands.
About Crescent Capital Group LP
Crescent is a global credit investment manager with approximately $30 billion of assets under management. For nearly 30 years, the firm has focused on below investment grade credit through strategies that invest in marketable and privately-originated debt securities including senior bank loans, high yield bonds, as well as private senior, unitranche, and junior debt securities. Crescent is headquartered in Los Angeles with offices in New York, Boston, and London and more than 180 employees globally. For more information about Crescent, visit www.crescentcap.com.
About Lion Capital
Lion Capital is a consumer-focused investor passionate about driving growth through strong brands. With offices in London and the US, the firm’s principals have invested over $9.3 billion in over 50 businesses and more than 180 consumer brands across Europe and North America. Lion’s focus on market-leading consumer-facing companies has led to investments in such well-known brands as Weetabix, a leading branded manufacturer of ready-to-eat cereals and cereal bars in the United Kingdom; Jimmy Choo, a worldwide luxury accessories brand; AllSaints, a global contemporary fashion company; Loungers, a fast-growing UK chain of informal all-day neighbourhood café-bars and Grenade, a market leading sports performance and active nutrition brand. For more information about Lion Capital, visit https://lioncapital.com.
About DMC Group
Founded in Mulhouse, France in 1746, DMC Group is a UK-headquartered leading global platform of iconic needlecraft brands. The DMC Group has evolved from its initial roots within embroidery through the acquisitions of Wool and the Gang, a digital-led direct-to-consumer knitting brand, and Sirdar and Rowan, two highly renowned premium knitting brands. The Company sells its products globally via specialty craft chains, retail chains, independent retailers, wholesalers and distributors as well as online direct-to-consumers and via Amazon. For more information about DMC Group, visit https://www.dmc.com/uk/.