Crescent Capital Group LP said Wednesday that it provided a loan to support The Carlyle Group’s buy of Telvent Global Services. Financial terms weren’t announced. Madrid-based Telvent provides information technology infrastructure management services.
LONDON & LOS ANGELES–(BUSINESS WIRE)–Crescent Capital Group LP, a leading investment firm focused on below investment grade credit, announced today that its Crescent European Specialty Lending strategy closed a unitranche financing to support the acquisition of Telvent Global Services, a Madrid-based provider of information technology infrastructure management services, by The Carlyle Group, the global alternative asset manager.
“By providing the financing to support Carlyle’s acquisition of Telvent, the company will now be positioned to grow its business and further capitalize on the increasing demand for IT infrastructure management in Spain and Portugal,” said Christine Vanden Beukel, Managing Director and head of Crescent’s European Specialty Lending strategy. “We continue to see significant opportunity to provide capital as well as customized solutions that support the growth of middle market companies across Europe.”
About Crescent Capital Group
Crescent Capital Group LP is headquartered in Los Angeles with offices in Boston, London and New York. With approximately 70 investment professionals and over 130 employees, the firm 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. As of March 31, 2015, Crescent Capital Group manages approximately $17 billion in assets, with a relatively equal split between marketable securities and privately originated debt investments.
About Telvent Global Services
Telvent Global Services is an independent company in Spain and Portugal in data center and IT infrastructure management. It provides Cloud and value-added solutions in the field of industrial cyber security as well as advanced information management services. The company eases IT integration and helps businesses to transform their IT enterprise systems. Telvent services are highly specialized and the company offers turnkey value-added solutions to clients across a number of key business and services sectors. The company has over 400 employees and revenues of €57 million in 2014.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $193 billion of assets under management across 130 funds and 156 fund of funds vehicles as of March 31, 2015. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,650 people in 40 offices across six continents.