Crescent European Specialty Lending Announces Unitranche Financing for Bluewater Acquisition of IMServ
Acquisition facility will also support other strategic mergers and acquisitions by IMServ
LONDON & LOS ANGELES, September 16, 2021– (COMMERCIAL THREAD) – Crescent Capital Group LP, a leading alternative credit investment firm, today announced that its European specialty lending strategy has provided unitranche financing to support the acquisition of pioneer IMServ metering and data services for the electricity, gas and water sectors in the UK, by Bluewater, the international private equity firm specializing in the mid-market energy sector. Crescent has also provided an acquisition facility to IMServ to further accelerate its growth through strategic mergers and acquisitions. Terms of the transaction were not disclosed.
With over 500 employees, IMServ is one of the UK’s largest independent energy data management providers and the market leader in half-hourly data collection for industrial and commercial markets. IMServ is well known for its ability not only to process large volumes of energy data quickly and consistently, but also to provide accurate billing and settlement services.
“We are delighted that Crescent is able to provide the funding necessary to facilitate the strategic growth of IMServ, which is well positioned to take advantage of the UK-wide transition to smart metering and data processing. every half hour within the SME and consumer markets, “said Christine Vanden Beukel, Managing Director and Head of European Strategy for Specialized Lending at Crescent.” Working with sponsors with sector funds like Bluewater is testament to the strength of our flexible capital solutions, and we look forward to continuing to meet the funding needs of sponsors and their portfolio companies. ”
About the Crescent Capital Group
Crescent Capital Group is headquartered in Los Angeles with offices in Boston, London and New York. With over 85 investment professionals and around 180 employees, the company invests at all levels of the capital structure, with an emphasis on substandard credit for investment through strategies that invest in senior bank loans, unitranche loans, high yield debt, mezzanine debt, and other private debt securities. As of June 30, 2021, Crescent Capital Group managed approximately $ 34 billion, with a relatively even split between marketable securities and private debt investments. For more information on Crescent Capital Group, please visit www.croissantcap.com.
IMServ is one of the UK’s largest independent energy data management providers. Their end-to-end energy data solutions help organizations across industries use their energy wisely. The company offers a range of specialized metering technologies for electricity, gas and water as well as highly accurate energy data collection services. All of this integrated into an easy-to-view online data management analysis and reporting software platform. For more information, please visit www.imserv.com.
Bluewater is an international private equity firm specializing in the mid-market energy sector. Their experienced investment and operations professionals drive value creation as they manage $ 2.5 billion in investments in a portfolio of 22 companies. Today, Bluewater focuses on projects or technologies that contribute to the energy transition program and works on a diversified investment strategy based on the principles of sustainability and close working partnerships with the best management teams. Bluewater has a strong focus on ESG and is a signatory to the United Nations Principles for Responsible Investment. For more information on Bluewater, please visit www.bluewaterpe.com.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20210916005015/en/
Crescent Capital Group
Bill Mendel, + 1-212-397-1030