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 AIO II by funds managed by Bencis Capital Partners and management. Crescent is also providing financing to support AIO IIs ongoing buy and build efforts. Terms of the transaction were not disclosed.
AIO II operates a chain of over 50 pharmacies across the Netherlands (Medsen) plus a modern large-scale compounding pharmacy (Ceban).
By providing this critical financing for the acquisition of AIO II, which operates in a fragmented landscape, the company can continue to execute on its buy and build growth trajectory, said Christine Vanden Beukel, Managing Director and head of Crescents European Specialty Lending strategy. We are proud to have been able to provide this two-part financing, which is demonstrative of the types of flexible capital we provide to companies and sponsors.
About Crescent Capital Group
Crescent Capital Group LP is headquartered in Los Angeles with offices in Boston, London and New York. With over 80 investment professionals and more than 160 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 December 31, 2018, Crescent Capital Group LP managed more than $24 billion in assets, with a relatively equal split between marketable securities and privately originated debt investments.
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About AIO II
Established in 1998 as a partnership between pharmacies, AIO II is the holding company of The Netherlands-based pharmacy chain Medsen and compounding pharmacy Ceban. Medsen is a chain of more than 50 pharmacies across the Netherlands operating through a simplified ordering and collection process including 24-hour vending machines and a pharmacy smart phone application. Ceban is a large-scale compounder of ad-hoc and in-stock prescriptions supplying to pharmacies, hospitals and dispensing general practitioners.
Bencis is an independent investment company that supports business owners and management teams in achieving their growth ambitions. Working out of offices in Amsterdam and Brussels, and more recently in D¼sseldorf, Bencis has been investing in strong and successful businesses headquartered in the Netherlands, Belgium and Germany since 1999.
Crescent Capital Group