PCS3 acts as sole lender to support MML’s investment in CSI Group Limited11 August 2017
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 III (“PCS3”) is acting as sole senior secured lender to finance MML Capital Partners (“MML”) investment in CSI Group Limited (“CSI”). The investment is supported by long-term senior debt provided and arranged by PCS3 in addition to significant investment by MML and the management team led by Alan Watkins and Kevin Lewis. A revolving credit line will be provided by Royal Bank of Scotland.
Dan Hatcher, Investment Director at PDM, commented:
“We are pleased to back MML’s investment in CSI and support the next stage of the Company’s growth. CSI provides a critical service to its customers and is attractively positioned in a market with positive structural drivers resulting from increasing IT complexity and security requirements. It has been a pleasure working with MML once again to deliver a flexible financing package in an efficient manner to one of their investments.”