Crescent Capital Group LP, a leading alternative credit investment firm,
announced today that its European Specialty Lending strategy provided a
unitranche financing for the acquisition of Armitage Pet Care by Rutland
Armitage is the largest independent manufacturer and supplier of
premium-branded pet treats and accessories in the UK. The business’s
strong brand portfolio includes “GoodBoy”, a leading premium dog treats
brand. From its manufacturing and distribution base in Colwick, near
Nottingham, Armitage supplies over 2,000 products across the dog, cat,
small domestic pet, bird and fish categories to a broad customer base
including the major supermarkets and pet specialist retailers.
“Armitage is a leading pet products brand in the rapidly growing pet
care sector, and we believe that this acquisition, alongside the
financial support from Crescent, will help to further scale the brand
and allow the company to execute on its expansion plans,” said Christine
Vanden Beukel, Managing Director and head of Crescent’s European
Specialty Lending strategy. “This is the second financing we have
completed with Rutland this year, demonstrating how sponsors appreciate
our flexible capital solutions for middle market companies.”
About Crescent Capital Group
Crescent Capital Group LP is headquartered in Los Angeles with offices
in Boston, London and New York. With over 70 investment professionals
and more than 150 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 March 31, 2017, Crescent Capital Group LP managed approximately
$24 billion in assets, with a relatively equal split between marketable
securities and privately originated debt investments.
About Rutland Partners:
Rutland Partners is a leading private equity investor with over twenty
five years’ experience in investing in and supporting UK based
The value of investee companies will usually range from £20 million to
£150 million with Rutland committing between £10 million and £50
million per investment.
Rutland has raised over £700 million in committed capital across three
funds: Rutland Fund I, Rutland Fund II and its latest fund Rutland
Fund III (£263m).
Rutland Partners LLP is authorised and regulated by the Financial
For more information on Rutland, please visit www.rutlandpartners.com.
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