Crescent Capital Group Mergers and Acquisitions Summary

Mezzanine Finance Firm Profile

In the last 3 years, Crescent Capital Group has acquired 5 companies.

Crescent Capital Group’s most common sectors for investment arebusiness services (9%) and manufacturing (9%) . The Firm’s most common investment types include secondary buyout (38%) and buyout (lbo, mbo, mbi) (30%). In total, Crescent Capital Group has invested in 19 US states and 9 different countries. Its largest (disclosed) acquisition occurred in 2006 when it acquired Telediffusion de France S.A. for $5.6B.

In the last 3 years, Crescent Capital Group has exited 3 companies. The Firm’s most common exit type is trade sale (41%). Crescent Capital Group’s largest (disclosed) exit occurred in 2014 when it sold URS for $6.0B.

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M&A Summary

  • M&A Total Activity114
    • M&A Buy Activity67
    • M&A Sell Activity47
  • Total Sectors Invested 27
  • Total Countries Invested 9
  • M&A Buy/Sell Connections 62
  • M&A Advisors 15

Crescent Capital Group LP

11100 Santa Monica Blvd., Suite 2000,
Los Angeles, California 90025
United States
(310) 235-5900
www.crescentcap.com
daniel.honeker@tcw.com

Crescent Capital is a provider of debt securities to middle-market companies. Crescent looks to issue senior bank loans, high yield bonds, mezzanine debt and distressed debt to fund a variety of needs. The FIrm's direct lending group looks to provide $10 to $30 million to sponsor-backed companies that generate $5 to $35 million of EBITDA. Crescent's mezzanine practice typically provides junior capital to support buyouts, recapitalizations, and refinancings. Crescent Capital was formed in 1991 and was originally known as TCW/Crescent Mezzanine. The Firm has offices in Los Angeles, Boston, New York, and London.


Investment Criteria

Sectors of Interest: Automotive, Beverages, Business Services, Communications, Consumer Products, Consumer Services, Distribution, Electrical Equipment, Electronics, Energy Services and Equipment, Engineering, Environmental, Financial Services, Food, Franchising, Gaming, Healthcare Services, Insurance, Leisure, Life Science, Manufacturing, Media, Medical Products, Packaging, Publishing, Restaurants, Retail, Safety/Security, Semiconductors, Test/Measurement Equipment

Target Transaction Types: Buyout (LBO, MBO, MBI), Going Private, Growth Capital, Secondary Buyout

Geographic Preferences: East US, Midwest US, South US, West US, Canada, Western Europe, Eastern Europe, Australia/New Zealand

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA 5 35
Investment Size 10 -
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (1.6/yr) # 59 3 2 2 - 1 67
vol $20.6B $20.6B
Sell (0.6/yr) # 44 - 2 1 - - 47
vol $35.8B $35.8B
  114

Most Recent M&A

Company Date Value Type
D. van der Steen B.V. 2024-05-13 - Secondary Buyout
Utrecht, Netherlands · www.dvds.nl
Enhanced Recovery Co. LLC 2022-10-04 - Trade Sale
Jacksonville, Florida · www.ercbpo.com
First Eagle Alternative Capital BDC, Inc. 2022-10-04 - Merger
Boston, Massachusetts · www.thlcredit.com
Voff Premium Pet Food 2022-07-13 - Secondary Buyout
Stockholm, Sweden · www.voff.pet
SRL Traffic Systems Ltd. 2021-12-06 - Secondary Sale
Cheshire, United Kingdom · www.srl.co.uk
IMServ Europe Ltd. 2021-09-15 - Buyout (LBO, MBO, MBI)
Milton Keynes, United Kingdom · www.imserv.com
F45 Training Holdings, Inc. 2021-07-12 - IPO
Austin, Texas · www.f45training.com
ChargePoint Technology Ltd. 2021-03-01 - Secondary Buyout
Liverpool, United Kingdom · www.thechargepoint.com
Spy Alarms Ltd. 2020-09-01 - Buyout (LBO, MBO, MBI)
Orpington, United Kingdom · www.spyalarms.co.uk
NAVTOR AS 2020-08-27 - Growth Capital
Egersund, Norway · www.navtor.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Dental Care Alliance LLC 2015-07-06 NorthEast Dental Management LLC 2016-01-07 2
Sarasota, Florida · www.dentalcarealliance.net Roselle Park, New Jersey · www.nedentalmanagement.com

M&A by Sector

Sector Current # Value All-time # Value
Business Services - - 6 (9%) 2.5B (12%)
Manufacturing 1 (8%) - 6 (9%) -
Healthcare Services 1 (8%) - 5 (7%) 1.1B (5%)
Information Technology 1 (8%) - 5 (7%) -
Communications - - 4 (6%) 7.4B (36%)
Retail - - 4 (6%) 3.8B (18%)
Automotive - - 3 (4%) 650M (3%)
Consumer Services 1 (8%) - 3 (4%) -
Electrical Equipment - - 3 (4%) -
Insurance - - 3 (4%) -
Life Science - - 2 (3%) 1.3B (6%)
Safety/Security 1 (8%) - 2 (3%) 828M (4%)
Consumer Products 1 (8%) - 2 (3%) -
Financial Services 1 (8%) - 2 (3%) -
Food - - 2 (3%) -
Medical Products 1 (8%) - 2 (3%) -
Semiconductors - - 2 (3%) -
Staffing 2 (15%) - 2 (3%) -
Engineering - - 1 (1%) 1.7B (8%)
Gaming - - 1 (1%) 1.3B (6%)
Furniture - - 1 (1%) 100M (< 1%)
Building Materials 1 (8%) - 1 (1%) -
Construction 1 (8%) - 1 (1%) -
Environmental - - 1 (1%) -
Information Services - - 1 (1%) -
Internet Software and Services 1 (8%) - 1 (1%) -
Transportation - - 1 (1%) -
Total 13 - 67 $20.6B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 7 (54%) - 54 (81%) 8.8B (43%)
  Florida 1 (8%) - 5 (7%) 1.2B (6%)
  Illinois 1 (8%) - 5 (7%) 828M (4%)
  Texas 1 (8%) - 5 (7%) -
  Massachusetts 1 (8%) - 5 (7%) -
  California - - 5 (7%) 1.8B (9%)
  Virginia - - 5 (7%) 1.7B (8%)
  New York - - 4 (6%) -
  Georgia 1 (8%) - 3 (4%) 500M (2%)
  Maryland - - 3 (4%) 847M (4%)
  Iowa 1 (8%) - 2 (3%) -
  Ohio - - 2 (3%) -
  North Carolina - - 2 (3%) -
  Missouri - - 2 (3%) -
  Vermont 1 (8%) - 1 (1%) -
  Colorado - - 1 (1%) 1.4B (7%)
  Washington - - 1 (1%) 550M (3%)
  Arizona - - 1 (1%) -
  Alabama - - 1 (1%) -
  Connecticut - - 1 (1%) -
United Kingdom 3 (23%) - 5 (7%) 1.3B (6%)
Switzerland - - 2 (3%) 2.4B (12%)
Netherlands 1 (8%) - 1 (1%) -
Norway 1 (8%) - 1 (1%) -
Sweden 1 (8%) - 1 (1%) -
France - - 1 (1%) 5.6B (27%)
Greece - - 1 (1%) 1.8B (9%)
Israel - - 1 (1%) 650M (3%)
Domestic 7 (54%) - 54 (81%) 8.8B (43%)
Cross-border 6 (46%) - 13 (19%) 11.8B (57%)
Total 13 - 67 $20.6B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 7 (54%) - 25 (37%) 4.4B (21%)
Buyout (LBO, MBO, MBI) 2 (15%) - 20 (30%) 6.8B (33%)
Growth Capital 2 (15%) - 5 (7%) -
Going Private - - 4 (6%) 5.1B (25%)
Divestiture - - 3 (4%) 3.5B (17%)
Recapitalization 1 (8%) - 3 (4%) 847M (4%)
Special Situations/Distressed - - 2 (3%) -
Stake Purchase - - 2 (3%) -
Add-on Acquisition - - 1 (1%) -
Consolidation - - 1 (1%) -
Merger 1 (8%) - 1 (1%) -
Total 13 - 67 $20.6B

Exits by Deal Type

Type Total # Value
Secondary Sale 14 (30%) 10.3B (29%)
Trade Sale - Public Company 13 (28%) 15.2B (42%)
IPO 8 (17%) -
Trade Sale 6 (13%) 5.1B (14%)
Merger 2 (4%) 3.4B (9%)
Recapitalization 2 (4%) 1.9B (5%)
Bankruptcy 2 (4%) -
Total 47 $35.8B

Top M&A Advisors

Financial Deals
J.P. Morgan Securities
 1
Credit Suisse Investment Banking
 1
BofA Securities
 1
Legal Deals
Paul, Weiss, Rifkind, Wharton & Garrison
 1
Arnold & Porter
 1
Addleshaw Goddard
 1

Deal Values

buy # Total
> $1B 9 $17.1B
$100M to $1B 5 $3.4B
< $100M 1 $100M
TOTAL $20.6B
Largest Telediffusion de France S.A.
$5.6B (2006-10-10)
sell # Total
> $1B 12 $33.0B
$100M to $1B 6 $2.8B
TOTAL $35.8B
Largest URS Corp.
$6.0B (2014-10-17)

M&A Connections

Deals
Acquired from
Investor(s)
39%
26 (39%)
Strategic(s)
3%
2 (3%)
Exited to
Investor(s)
32%
15 (32%)
Strategic(s)
43%
20 (43%)

Investor Summary

Investor Type

Mezzanine Finance Firm

Size

Mega

PE Assets

39.0B USD

Established

1991

Specialist/Generalist

Generalist

Leadership

Jean-Marc Chapus

Co-Founder & Managing Partner

Mark Attanasio

Co-Founder & Managing Partner

Felipe Esguerra

Managing Director and Head of Eastern Region

Joe Hanlon

Head of Crescent Capital Group LP Compliance

Albert Lee

Managing Director

FAQ

When was Crescent Capital Group LP founded?

Crescent Capital Group LP was founded in 1991.

What type of investor is Crescent Capital Group LP?

Crescent Capital Group LP is a mezzanine finance firm.

Where is Crescent Capital Group LP headquartered?

Crescent Capital Group LP is headquartered in Los Angeles, California.

How much capital does Crescent Capital Group LP have under management?

Crescent Capital Group LP has 39.0B USD under management.

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