Crescent Capital Group LP has provided a loan to back Premium Equity Partners‘ acquisition of Clarus Films Group, a German reseller in the packaging and lamination film sector. No financial terms were disclosed.
LONDON & LOS ANGELES–(BUSINESS WIRE)–Crescent Capital Group LP, a leading alternative credit investment firm, announced today that its European Specialty Lending strategy has provided a unitranche loan to support the acquisition of a majority share of CLARUS Films Group by funds advised by PREMIUM Equity Partners. Terms of the transaction were not disclosed.
Based in Dietzenbach near Frankfurt, Germany, CLARUS Films is the leading independent value-added reseller in the packaging and lamination film sector in Germany. The company’s recyclable films are predominantly distributed to customers in the food and consumer goods industry in the German-speaking region of Europe, with planned expansion into other parts of the European market through selective add-on acquisitions.
“We are very pleased to support PREMIUM’s acquisition of CLARUS Films, as it continues its long-term growth strategy in Europe. The company’s well-established relationships with customers and suppliers and its strong management team combined with its partnership with PREMIUM will help expand its market leadership,” said Christine Vanden Beukel, Managing Director and head of Crescent’s European Specialty Lending strategy. “This transaction is representative of the flexible capital structures Crescent provides to companies and sponsors to support their next phase of growth.”
About Crescent Capital Group
Crescent Capital Group LP is headquartered in Los Angeles with offices in Boston, London and New York. With over 80 investment professionals and more than 160 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, 2018, Crescent Capital Group LP managed more than $25 billion in assets, with a relatively equal split between marketable securities and privately originated debt investments.
About CLARUS Films
Founded more than 30 years ago, CLARUS Films is the largest independent provider of transparent packaging films in Germany, with approximately 60 employees and approximately €60 million annual turnover. The Company serves more than 1,800 direct customers in the food and consumer good sectors. Large warehouse and cutting and conversion capacities allow CLARUS Films to meet individual customer demands within 24 hours. This level of service and the future growth strategy will be further supported and accelerated with the opening of new facilities in Dietzenbach at the end of 2018. For more information, visit www.clarusfilms.de
About PREMIUM Equity Partners
PREMIUM Equity Partners is an equity investment firm founded in 2011 with a focus on the DACH region where it invests in strong niche companies with sales between €10 million and €50 million. PREMIUM provides capital to the smaller “Mittelstand” to finance growth, ownership succession and spin-offs. For every investment PREMIUM combines its long- term investment and financing expertise with the profound industrial know-how of its industry partners. For more information, visit www.premium-equity.de.