M&A Deal Summary

Crescent Capital Group Acquires First Eagle

On October 4, 2022, mezzanine finance firm Crescent Capital Group acquired financial services company First Eagle

Acquisition Highlights
  • This is Crescent Capital Group’s 2nd transaction in the Financial Services sector.
  • This is Crescent Capital Group’s 54th transaction in the United States.
  • This is Crescent Capital Group’s 5th transaction in Massachusetts.

M&A Deal Summary
Date 2022-10-04
Target First Eagle
Sector Financial Services
Buyer(s) Crescent Capital Group
Deal Type Merger
Advisor(s) Keefe, Bruyette, & Woods, Inc. (Financial)
Simpson Thacher & Bartlett (Legal)

Target

First Eagle

Boston, Massachusetts, United States
First Eagle is an alternative credit investment manager for both direct lending and tradable credit investments through public and private vehicles, commingled funds including collateralized loan obligations, and separately managed accounts. First Eagle is based in Boston, Massachusetts.

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Buyer(S) 1

Buyer

Crescent Capital Group

Los Angeles, California, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1991
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

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.

DEAL STATS #
Overall 66 of 67
Sector (Financial Services) 2 of 2
Type (Merger) 1 of 1
State (Massachusetts) 5 of 5
Country (United States) 54 of 54
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-04 Enhanced Resource Centers

Jacksonville, Florida, United States

Enhanced Resource Centers is a provider of customer experience management solutions with a focus on call center-based business process outsourcing solutions and accounts receivable management services to blue-chip clients in a variety of industries, including financial services, telecommunications, utilities, and student loan markets. Enhanced Resource Centers was founded in 1999 and is headquartered in Jacksonville, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-13 D. van der Steen

Utrecht, Netherlands

D. van der Steen is a provider of municipal asphalt maintenance in the region of Central Netherlands, North-Holland, and Limburg. D. van der Steen works as the main contractor on the basis of long-term maintenance contracts and is responsible for the annual maintenance of more than 10,000 kilometers of asphalt. D. van der Steen was founded in 1911 and is based in Utrecht, Netherlands.

Buy -
Mergr

Product

Company

Legal