Crescent Capital Group, an alternative credit investment firm, provided unitranche financing and an equity co-investment to support the management buyout of Texecom, which was supported by LDC, the UK-based private equity arm of Lloyds Banking Group. Terms of the financing were not disclosed.
Headquartered in Lancashire, England, Texecom is a manufacturer of intruder alarm systems in the UK with an installed global base of more than 1 million alarm systems. The company predominantly provides solutions for commercial and industrial end customers and offers a suite of security solutions, including intrusion detection hardware (control systems, detectors, intrusion sounders, smart communicators) and digital services, as well as mass notification solutions used for fire evacuations and industrial safety applications.
“We believe that this financing represents an outstanding opportunity to support Texecom’s management team’s vision, and we are excited to work along with LDC to help the team drive growth and continue their remarkable trajectory,” Christine Vanden Beukel, managing director and head of Crescent’s European specialty lending strategy, said. “We are delighted to work with LDC again, having supported transactions involving ChargePoint Technology in 2017 and SRL Traffic Systems in 2019. This financing is another example of our ability to provide flexible capital solutions to leading private equity sponsors and market-leading companies.”
