PCS2 sole lender in Bridgepoint Capital’s acquisition of Anaveo07 January 2016
Permira Debt Managers (“PDM”), the debt management and advisory arm of Permira and one of Europe’s leading specialist debt investors, today announces that direct lending fund Permira Credit Solutions II is acting as sole lender in the financing of the acquisition of French video surveillance company Anaveo by Bridgepoint Development Capital (the small-mid cap investment division of Bridgepoint).
The acquisition of Anaveo is supported by long-term debt provided and arranged by Permira Credit Solutions II, together with an acquisition facility available to support future external growth.
David Hirschmann, Head of Private Credit at Permira Debt Managers, commented: “Anaveo is a successful French video surveillance business run by a highly-dedicated management team. We are delighted that Permira Credit Solutions II is backing new owners Bridgepoint Development Capital and providing long-term financing to Anaveo in order to enable a successful next phase of growth.”
James Greenwood, CEO of Permira Debt Managers, added: “The Anaveo transaction is consistent with our investment strategy based on lending to high-quality European mid-market companies that are looking to grow and diversify their capital sources. PDM closed its most recent direct lending fund, Permira Credit Solutions II, in July 2015. To date, the fund, which has c. €1.0 billion of available capital, has invested €548 million across 17 separate European transactions and we continue to see great opportunities for our fund to invest at attractive risk-adjusted returns whilst benefitting from strong downside protection.”
Rothschild and Mayer Brown acted as advisors to Bridgepoint Development Capital and Jones Day provided legal advice to PDM in connection with the financing.