Crescent Capital Group LP, a leading alternative credit investment firm, announced today that its European Specialty Lending strategy has provided unitranche financing and an equity co-investment to support the management buyout of Texecom Ltd, which was supported by LDC, the U.K.-based private equity arm of Lloyds Banking Group. Terms of the financing were not disclosed.
Headquartered in Lancashire, Texecom is the leading manufacturer of intruder alarm systems in the U.K. with an installed global base of more than one million alarm systems. The company predominantly provides solutions for commercial and industrial end customers and offers a full suite of security solutions including intrusion detection hardware (control systems, detectors, intrusion sounders, smart communicators) and digital services, as well as mass notification solutions used for fire evacuations and industrial safety applications.
“We believe that this financing represents an outstanding opportunity to support Texecom’s management team’s vision, and we are excited to work along with LDC to help the team drive growth and continue their remakable trajectory,” said Christine Vanden Beukel, Managing Director and head of Crescent’s European Specialty Lending strategy. “We are delighted to work with LDC again, having supported transactions involving ChargePoint Technology in 2017 and SRL Traffic Systems in 2019. This financing is another example of our ability to provide flexible capital solutions to leading private equity sponsors and market-leading companies.”
About Crescent Capital Group
Crescent Capital Group is headquartered in Los Angeles with offices in Boston, London, and New York. With more than 85 investment professionals and approximately 180 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, unitranche loans, high yield debt, mezzanine debt, and other private debt securities. As of December 31, 2020, Crescent Capital Group managed approximately $30 billion, with a relatively equal split between marketable securities and privately originated debt investments. For more information about Crescent Capital Group, visit www.crescentcap.com.
About LDC www.ldc.co.uk/pressrelease
- LDC is the private equity arm of Lloyds Banking Group and is authorised and regulated by the Financial Conduct Authority.
- LDC has committed to invest £1.2bn in UK mid-market businesses over the next three years.
- LDC has a portfolio of 90 businesses across the UK, across a broad range of sectors including Construction & Property, Financial Services, Healthcare, Industrials, Retail & Consumer, TMT, Travel & Leisure and Support Services.
- LDC has a nationwide network of regional offices to provide a local presence to the businesses and communities it supports.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210810005076/en/
Contacts
Crescent Capital Group
Mendel Communications
Bill Mendel, +1-212-397-1030
bill@mendelcommunications.com
