CVC Credit Partners supported Sun European Partners’ buyout of WesCom Signal & Rescue. CVC Credit will provide a senior term loan and facilities to support WesCom’s expansion plans.
CVC Credit Partners (“CVC Credit”) is pleased to announce that its European Private Debt business has supported the buyout of WesCom Signal & Rescue (“WesCom”) by an affiliate of Sun European Partners’ (“Sun”). CVC Credit will provide a senior term loan as well as facilities to support WesCom’s expansion plans.
Founded in 1885, WesCom is the global leader in the design, manufacture and distribution of pyrotechnic rescue signalling devices. WesCom produces mission critical products which it sells through an extensive global network of over 1,000 ports across 70 countries.
Alex Wyndham at Sun European Partners, commented: “We are very pleased to have partnered with CVC Credit Partners again, we have worked with Neale and his team on multiple occasions before and their experience and knowledge have always added significant value, both prior to and throughout our periods of ownership.”
Neale Broadhead, Head of European Private Debt in CVC Credit Partners’ European Private Debt business, added: “WesCom is the clear leader in a stable market with embedded regulatory growth drivers and limited cyclicality. It provides high-quality and mission critical products to a loyal customer base and is run by an experienced management team. We have supported Sun European Partners in the past and look forward to working with them again as they look to accelerate growth at WesCom.”
About WesCom Signal and Rescue
WesCom Signal and Rescue is the world leading manufacturer of mission-critical, non-discretionary, pyrotechnics products with leading brands including PainsWessex, Comet and Oroquieta that operate in a highly regulated market across 70 countries.
WesCom’s products are specified by the major liferaft manufacturers, the world’s navies, merchant fleets, rescue services, fishing and leisure vessels and have been saving lives at sea for more than a century.
About CVC Credit Partners
CVC Credit Partners is the credit management business of CVC. CVC Credit Partners is a global credit asset manager with offices in the U.S. and Europe, 60 investment professionals and US$25 billion assets under management, as at 30 September 2019.
CVC Credit Partners seeks to generate for its investors positive absolute returns and attractive risk-adjusted returns on capital throughout the credit cycle.
CVC Credit Partners has built a diverse platform which creates significant synergies across its three investment strategies: Performing Credit, Credit Opportunities & Special Situations and Private Debt. For further information about CVC Credit Partners please visit: www.cvc.com/credit
About Sun European Partners
Sun European Partners, LLP is a leading private investment advisory firm, focused on identifying companies’ untapped potential and leveraging its deep operational and financial resources to transform results. Sun European Partners is a trusted partner that is recognised for its investment and operational experience, including particular expertise in business and consumer services, healthcare, industrial and consumer sectors. Since 1995, affiliates of Sun European Partners have invested in more than 375 companies worldwide across a broad range of industries and transaction structures with turnover of approximately €40 billion. Sun European Partners has offices in London and affiliates with offices in Boca Raton, Los Angeles, and New York.
Further information on Sun European Partners, LLP is available at www.suneuropeanpartners.com.