Crescent’s Second Transaction with Sponsor Kester Capital in 2021
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.
Kester Capital acquired Frontier Medical Group in 2013 and has helped it to grow from a successful family-owned business into a global medical device business with significant revenue, EBITDA and head count increases since its investment. 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.
"As a globally-renowned producer and innovator in the growing field of medical devices, Frontier has shown the ability to grow through innovative devices, and our expectation is for its expansion and relevancy to continue," said Christine Vanden Beukel, Managing Director and head of Crescent’s European Specialty Lending strategy. "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. Frontier Medical also won the inaugural National BVCA "Responsible Portfolio Company Award" in 2017.
About Crescent Capital Group
Crescent Capital Group is headquartered in Los Angeles with offices in Boston, London, and New York. With more than 85 investment professionals and approximately 180 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, unitranche loans, high yield debt, mezzanine debt, and other private debt securities. 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. For more information about Crescent Capital Group, visit www.crescentcap.com.
About Kester Capital
Kester Capital is a primary buy-out specialist, led by entrepreneurial and experienced investors, and focused on UK businesses that require capital in order to unlock their potential. Established in 2007, Kester has been making European private equity investments focused on Healthcare, Business & Financial Services, TMT and Niche Consumer. For more information, please visit http://www.kestercapital.com.
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Crescent Capital Group
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