Crescent European Specialty Lending Announces Financing for Arcline Investment Management’s Acquisition of ChargePoint Technology
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ChargePoint Technology provides mission-critical solutions to the world’s leading pharmaceutical companies
LONDON & LOS ANGELES--(BUSINESS WIRE)-- Crescent Capital Group LP, a leading alternative credit investment firm, announced today that its European Specialty Lending strategy has provided financing in support of Arcline Investment Management’s acquisition of the UK-headquartered, ChargePoint Technology Limited.
This transaction by Arcline is part of its strategy of building a specialty process technologies platform focused on pharmaceutical and biopharmaceutical end markets. Crescent European Specialty Lending previously supported the buyout of ChargePoint by Lloyds Development Capital in January 2017, recognizing the growing market opportunity for this sector.
“ChargePoint produces globally-recognized containment and aseptic powder transfer technologies that establish safe and reliable manufacturing process environments. This acquisition by Arcline will enhance the company’s ability to expand in its exciting next phase of growth,” said Christine Vanden Beukel, Managing Director and head of Crescent’s European Specialty Lending strategy. “We are pleased to provide financing to Arcline’s first investment in its successor fund.”
The first ChargePoint valve was developed in 1997 with Glaxo Pharmaceuticals, now GlaxoSmithKline, and the core features of this valve remains in use across ChargePoint products today. ChargePoint's products include multi-use and single-use split butterfly valves, charge bottles and bags, process solution accessories, and spare parts, which are marketed under brands including PharmaSafe®, AseptiSafe®, ChargeBag®, and SingleUse.
About Crescent Capital Group LP
Crescent is a global credit investment manager with approximately $30 billion of assets under management. For nearly 30 years, the firm has focused on below investment grade credit through strategies that invest in marketable and privately-originated debt securities including senior bank loans, high yield bonds, as well as private senior, unitranche, and junior debt securities. Crescent is headquartered in Los Angeles with offices in New York, Boston, and London and more than 180 employees globally. For more information about Crescent, visit www.crescentcap.com.
About Arcline Investment Management
Arcline is a growth-oriented private equity firm that seeks to invest in thriving middle market businesses with structurally recurring revenue streams in high value industries. Arcline's differentiated investment strategy combines deep business model expertise, proactive thematic research, an unrelenting focus on the upside and a collaborative, management-first approach to value creation. The firm's primary sectors of interest include defense, aerospace, critical infrastructure services, industrial & biopharmaceutical technology, life sciences and specialty materials. Launched in 2019, Arcline currently has $4.3 billion in cumulative capital commitments. The firm's more than 35 professionals are predominantly based in New York and San Francisco. For more information about Arcline's investment philosophy and values, visit www.arcline.com.
About ChargePoint Technology
ChargePoint Technology is a leader in safe powder handling with patented process technology in containment and sterile powder transfer solutions. ChargePoint's products are used primarily in pharmaceutical manufacturing and bioprocessing applications, and include split butterfly valves, charge bottles and bags, process solution accessories, and spare parts. The Company is headquartered in Liverpool, United Kingdom. www.thechargepoint.com\
Crescent Capital Group
Bill Mendel, +1-212-397-1030
Source: Crescent Capital Group LP
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