Alternative asset management firm Crescent Capital Group’s European specialty lending strategy refinanced existing banking facilities for Avania, a global full-service contract research organization focused on medical technology development.
Avania is a portfolio company of Kester Capital.
Headquartered in the Netherlands with sponsors globally, Avania focuses on the management of clinical studies for medical devices, medical device/drug combinations and biological and cell-based products internationally.
“We are proud to support Avania and Kester Capital on this refinancing, which we believe will continue to support the company’s growth trajectory as a leading, global medtech-focused CRO. We have been impressed with Avania’s ability to navigate the COVID-19 pandemic and post strong growth in 2020,” Christine Vanden Beukel, managing director and head of Crescent’s European specialty lending strategy, said. “This transaction demonstrates Crescent’s ability to provide flexible financing solutions to support high-growth companies and their sponsors.”