Crescent European Specialty Lending Announces Financing for the Acquisition of D. Van Der Steen by IceLake

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 financing to support the acquisition of D. Van Der Steen (VDS), a leading full-service provider of road maintenance services for municipalities and provinces in the Netherlands, by IceLake, a private equity firm.

Founded in 1911 and headquartered in Utrecht, the Netherlands, VDS provides road maintenance services such as milling, paving, compacting, transporting and laying of asphalt, as well as other ad-hoc services including road signage, sewage replacement and more across approximately 50 municipalities and provinces throughout the Netherlands. The company operates as a main contractor and offers multi-year asphalt maintenance, natural stone paving and inner-city infrastructure services with the support of an experienced team and specialized machines.

“With this financing from Crescent, the partnership between VDS and IceLake will be able to expand the company’s presence throughout the Netherlands and strengthen its infrastructure and road maintenance services as it seeks to enhance its positioning as one of the top asphalt maintenance and road specialists in the country,” said Christine Vanden Beukel, Managing Director and head of Crescent’s European Specialty Lending strategy. “Crescent is proud to provide the kind of flexible capital solutions needed by European private equity sponsors like IceLake and proven, growing companies like VDS.”

About Crescent Capital Group LP

Crescent is a global credit investment manager with $43 billion of assets under management as of March 31, 2024. For over 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, Chicago and London with more than 225 employees globally. Crescent is a part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life. For more information about Crescent, visit www.crescentcap.com.

About D. Van Der Steen

Since Dirk van der Steen founded the company in 1911, VDS has developed from a paving contractor to a service provider in the field of inner-city infrastructure. The company is comprised of over 100 employees who support in providing road maintenance services. VDS benefits from a strong market position, being recognised as the number 2 player in the Dutch asphalt maintenance market and the number 1 road specialist. For more info see https://dvds.nl/#dienstverlening.

About IceLake

IceLake is a private equity firm that invests in leading companies that can benefit from IceLake's support in executing their growth strategies. The firm has offices in the Netherlands and Germany. For more info see https://www.icelakecapital.com/.