Crescent Capital’s European specialty lending strategy provided unitranche financing to support the acquisition of NAVTOR by Accel-KKR, a global software-focused investment firm headquartered in California’s Silicon Valley. Crescent also provided an acquisition facility to further accelerate NAVTOR’s growth through strategic M&A. Terms of the financing were not disclosed.
NAVTOR provides navigational software for the maritime industry. Its cloud-based e-navigation solutions include electronic navigational charts (ENCs), digital maritime publications, route optimization and fleet management across an integrated platform. The global maritime e-navigational industry is on a multi-year technological expansion in large part due to new regulations, an increased focus on safety and ESG goals, and advances in technology.
“This financing for NAVTOR will be instrumental in the company’s plans to accelerate its organic growth strategies and expand further through M&A. NAVTOR is the clear leader in navigational software for the maritime industry driven by its superior technological product suite, and we are proud to support its growth in its next chapter with Accel-KKR. The company is well-positioned to take advantage of the continued digitization of the maritime industry, ensuring safe passage of vessels and crew members through different territories,” Christine Vanden Beukel, managing director and head of Crescent’s European specialty lending strategy, said. “This transaction continues to demonstrate Crescent’s ability to provide customized financing solutions to top-tier sponsors investing in market-leading companies with clear competitive advantages and mission-critical products.”
Crescent Capital is a global credit investment manager with approximately $28 billion of assets under management. The firm focuses 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.