Crescent Capital Unit Completes P+L Systems Unitranche Financing
Crescent Capital Group announced that its Crescent European Specialty Lending strategy completed a unitranche financing to P+L Systems, a UK-based global supplier of durable pest control products and a portfolio company of Wind Point Partners.
P+L Systems used the capital in large part for the add-on acquisition of the Environmental Care Unit of Group De Ceuster, a manufacturer and distributer of chemical pest control solutions with operations in Belgium, the Netherlands and France.
The cross-border European transaction fits within Crescent’s longstanding underwriting standards and its commitment to providing access to capital for middle market companies.
“We are pleased to have completed this transaction with P+L in support of its acquisition of GDC Enviro, which when combined will become a leading manufacturer and supplier of pest control products in Western Europe,” said Christine Vanden Beukel, managing director and head of Crescent’s European Specialty Lending strategy. “This transaction is representative of the increased interest we are seeing by sponsors and management teams to access capital through unitranche financings provided by established alternative asset managers.”
Crescent Capital Group is an SEC-registered investment advisor.
Harrogate, UK-based P+L is a global supplier of pest control products.