Crescent European Specialty Lending Announces Financing for Armitage Pet Care
14 September 2017 - 9:00AM
Business Wire
Crescent Capital Group LP, a leading alternative credit
investment firm, announced today that its European Specialty
Lending strategy 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. The
business’s strong brand portfolio includes “GoodBoy”, a leading
premium dog treats brand. 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. “This is the second
financing we have completed with Rutland this year, demonstrating
how sponsors appreciate our flexible capital solutions for middle
market companies.”
About Crescent Capital Group
Crescent Capital Group LP is headquartered in Los Angeles with
offices in Boston, London and New York. With over 70 investment
professionals and more than 150 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, 2017, Crescent
Capital Group LP managed approximately $24 billion in assets, with
a relatively equal split between marketable securities and
privately originated debt investments.
About Rutland Partners:
- Rutland Partners is a leading private
equity investor with over twenty five years’ experience in
investing in and supporting UK based companies.
- The value of investee companies will
usually range from £20 million to £150 million with Rutland
committing between £10 million and £50 million per investment.
- Rutland has raised over £700 million in
committed capital across three funds: Rutland Fund I, Rutland Fund
II and its latest fund Rutland Fund III (£263m).
- Rutland Partners LLP is authorised and
regulated by the Financial Conduct Authority.
- For more information on Rutland, please
visit www.rutlandpartners.com.
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Crescent Capital GroupMendel CommunicationsBill Mendel,
+1-212-397-1030bill@mendelcommunications.comorRutland PartnersBen
Slatter, 020-7451-0700ben.slatter@rutlandpartners.comorKajen
Mohanadas, 020-7451-0700kajen.mohanadas@rutlandpartners.com