Crescent European Specialty Lending Announces Financing for DMC Group – A Global Leading Platform of Needlecraft Brands
LONDON AND LOS ANGELES – (BUSINESS WIRE) – Crescent Capital Group LP, a leading alternative asset management firm, today announced that its European specialist lending strategy has provided a unitranche facility to support the refinancing of DMC Group, a leading global platform of needle product brands and a holding company of Lion Capital. In addition, Crescent has provided an acquisition facility to further support strategic mergers and acquisitions. Terms of the financing were not disclosed.
Lion Capital is a consumer-focused private equity investor and, since its inception, has supported the growth of more than 180 world-class consumer brands, including Weetabix, Jimmy Choo, AllSaints, Loungers and Grenada.
“We are proud to support Lion Capital and DMC Group on this refinancing, which we believe will continue to support the company’s strong growth trajectory as a preeminent leader of couture brands,” said Christine Vanden Beukel, Managing Director and responsible for Crescent’s European specialty loans. strategy. “This transaction continues to demonstrate Crescent’s ability to provide flexible financing to innovative and market-leading companies.”
Founded in Mulhouse, France, in 1746, DMC Group is a leading UK-based global platform of iconic couture brands. The company manufactures and supplies a range of high quality products for the craft market to support the embroidery, knitting and crochet activities. The DMC Group has evolved from its initial roots in embroidery through the acquisitions of Wool and the Gang, a direct-to-consumer knitting brand, and Sirdar and Rowan, two highly regarded premium knit brands.
About Crescent Capital Group LP
Crescent is a global credit investment manager with approximately $ 30 billion in assets under management. For nearly 30 years, the company has focused on sub-investment grade credit through strategies that invest in marketable and private debt securities, including senior bank loans, high-grade bonds. yield, as well as senior, unitranche and junior private debt. Crescent is headquartered in Los Angeles with offices in New York, Boston and London and over 180 employees worldwide. For more information on Crescent, visit www.crescentcap.com.
About Lion Capital
Lion Capital is a consumer driven investor passionate about driving growth through strong brands. With offices in London and the United States, the company’s executives have invested more than $ 9.3 billion in more than 50 companies and more than 180 consumer brands in Europe and North America. Lion’s focus on leading consumer-facing businesses has led to investments in well-known brands such as Weetabix, a leading brand manufacturer of ready-to-eat cereals and granola bars in the UK; Jimmy Choo, a global luxury accessories brand; AllSaints, a global contemporary fashion company; Loungers, a fast-growing UK chain of informal, all-day neighborhood coffee bars and Granada, a leading athletic performance and active nutrition brand in the market. For more information on Lion Capital, visit https://lioncapital.com.
About the DMC Group
Founded in Mulhouse, France, in 1746, DMC Group is a leading UK-based global platform of iconic couture brands. The DMC Group has evolved from its initial roots in embroidery through the acquisitions of Wool and the Gang, a direct-to-consumer knitting brand, and Sirdar and Rowan, two highly regarded premium knit brands. The company sells its products worldwide through specialty craft chains, retail chains, independent retailers, wholesalers and distributors, as well as through customers online and through Amazon. For more information on DMC Group, visit https://www.dmc.com/uk/.