Crescent European Specialty Lending Announces Unitranche Financing for Frontier Medical
Summary
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 unitranche financing to support the recapitalisation of Frontier Medical, a UK-based manufacturer of medical devices specialised in the pressure ulcer prevention segment. Headquartered in Blackwood, Wales, and founded in 1966, Frontier Medical has grown to become a leading manufacturer and supplier of pressure ulcer prevention products to healthcare providers in the UK as well as export markets around the world. “This transaction is our second thus far this year with Kester Capital, and we are excited to add them to our roster of leading sponsors who come to Crescent for its ability to provide flexible capital and tailor-made solutions.” Frontier Medical won the award for “Business Transformation Management Team” at the BVCA Wales Management Team Awards 2019 and was also included in The London Stock Exchange Group’s “1000 Companies to Inspire Britain 2019,” an annual celebration of some of the fastest-growing and most dynamic small- and medium-sized enterprises in the UK. As of December 31, 2020, Crescent Capital Group managed approximately $30 billion, with a relatively equal split between marketable securities and privately originated debt investments. Established in 2007, Kester has been making European private equity investments focused on Healthcare, Business & Financial Services, TMT and Niche Consumer.