CVC Credit Partners acted as administrative agent on a first lien senior secured debt facility provided to Wastewater Specialties (WWS). The proceeds were used to refinance existing debt and support future growth through equipment purchases.
Headquartered in Lake Charles, LA and employing more than 300 people, WWS is a provider of industrial and specialty cleaning services to more than 500 industrial, marine, oilfield and commercial customers. The company was acquired in December 2014 by Polus Capital and management.
David Rous, managing director in CVC Credit Partners’ Private Debt business said, “We are delighted to partner with WWS and look forward to helping the company meet its growth targets. WWS has a great team and is ideally positioned to take advantage of substantial industry tailwinds.”
Alan Ying, managing director at Polus Capital and CEO of WWS, said, “The CVC team was responsive, thoughtful and constructive. They delivered a flexible, fully underwritten solution that will help WWS achieve its goals. We look forward to our continued relationship with CVC.”
New York, NY-based CVC Credit Partners is the credit management business of CVC. Formed through a merger of predecessor firms that date back to 2005 and supported by a team of 51 dedicated investment professionals, CVC Credit Partners is a global credit asset manager with offices in the U.S. and UK and $16.4 assets under management, as of Q1/17.