Crescent Capital Group’s European specialty lending strategy provided financing in support of Arcline Investment Management’s acquisition of ChargePoint Technology.
This transaction by Arcline is part of its strategy of building a specialty process technologies platform focused on pharmaceutical and biopharmaceutical end markets. Crescent European Specialty Lending previously supported the buyout of ChargePoint by Lloyds Development Capital in January 2017.
“ChargePoint produces globally-recognized containment and aseptic powder transfer technologies that establish safe and reliable manufacturing process environments. This acquisition by Arcline will enhance the company’s ability to expand in its exciting next phase of growth,” Christine Vanden Beukel, managing director and head of Crescent’s European specialty lending strategy, said. “We are pleased to provide financing to Arcline’s first investment in its successor fund.”
The first ChargePoint valve was developed in 1997 with Glaxo Pharmaceuticals, now GlaxoSmithKline, and the core features of this valve remain in use across ChargePoint products today. ChargePoint’s products include multi-use and single-use split butterfly valves, charge bottles and bags, process solution accessories, and spare parts, which are marketed under brands including PharmaSafe, AseptiSafe, ChargeBag and SingleUse.
