The European Specialty Lending arm of Crescent Capital Group provided a unitranche financing for the acquisition of Armitage Pet Care by Rutland Partners.
Armitage is the largest independent manufacturer and supplier of premium-branded pet treats and accessories in the UK. From its manufacturing and distribution base in Colwick, near Nottingham, Armitage supplies over 2,000 products across the dog, cat, small domestic pet, bird and fish categories to a broad customer base including the major supermarkets and pet specialist retailers.
“Armitage is a leading pet products brand in the rapidly growing pet care sector, and we believe that this acquisition, alongside the financial support from Crescent, will help to further scale the brand and allow the company to execute on its expansion plans,” said Christine Vanden Beukel, managing director and head of Crescent’s European Specialty Lending strategy.
Los Angeles-based Crescent Capital Group 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, high yield debt, mezzanine debt, distressed debt and other private debt securities.
Rutland Partners is a \private equity investor with more than 25 years of experience in investing in and supporting UK based companies.