Crescent European Specialty Lending Announces Financing for the Acquisition of D. Van Der Steen by IceLake
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 financing to support the acquisition of D. Van Der Steen (VDS), a leading full-service provider of road maintenance services for municipalities and provinces in the Netherlands, by IceLake, a private equity firm. The company operates as a main contractor and offers multi-year asphalt maintenance, natural stone paving and inner-city infrastructure services with the support of an experienced team and specialized machines. “With this financing from Crescent, the partnership between VDS and IceLake will be able to expand the company’s presence throughout the Netherlands and strengthen its infrastructure and road maintenance services as it seeks to enhance its positioning as one of the top asphalt maintenance and road specialists in the country,” said Christine Vanden Beukel, Managing Director and head of Crescent’s European Specialty Lending strategy. For over 30 years, the firm has focused on below investment grade credit through strategies that invest in marketable and privately originated debt securities including senior bank loans, high yield bonds, as well as private senior, unitranche and junior debt securities. Since Dirk van der Steen founded the company in 1911, VDS has developed from a paving contractor to a service provider in the field of inner-city infrastructure.