LONDON & LOS ANGELES–(–)–Crescent Capital Group LP, a leading alternative credit investment firm, announced today that its European Specialty Lending strategy has provided unitranche financing to support the acquisition of Hanson Wade by U.K.-based private equity firm Graphite Capital. Terms of the transaction were not disclosed.
Hanson Wade is a leading provider of content-led conferences and data products within specialised and high-growth niches in the life sciences industry. The company holds more than 100 conferences per year catering to more than 7,500 delegates and over 580 sponsors.
“Hanson Wade has a strong reputation in the market for providing high-quality, premium conferences. We believe that by providing financing for this transaction, the company will continue its strong historic growth in the stable, non-cyclical life sciences market,” said Christine Vanden Beukel, Managing Director and head of Crescent’s European Specialty Lending strategy. “This is the second transaction we have worked on with Graphite in the broader life sciences space having financed its acquisition of Random42 in July 2017. We look forward to continuing to provide the types of flexible capital that sponsors and companies need to grow their businesses.”
About Crescent Capital Group
Crescent Capital Group is headquartered in Los Angeles with offices in Boston, London, and New York. With more than 80 investment professionals and approximately 170 employees, the firm invests at all levels of the capital structure, with a significant focus on below investment grade credit through strategies that invest in senior bank loans, high yield debt, mezzanine debt, and other private debt securities. As of June 30, 2019, Crescent Capital Group managed approximately $25 billion, with a relatively equal split between marketable securities and privately originated debt investments. For more information about Crescent Capital Group, visit www.crescentcap.com.
About Hanson Wade
Established in 2008 and headquartered in London, Hanson Wade is a market- leading conference organiser and provider of information services, focused primarily on the pharmaceutical and biotech industries with the majority of conferences being held in the United States. The Company also owns a fast- growing scientific data business, Beacon, which provides subscribers with access to a powerful database covering clinical trials and other research data in niche sectors of the life sciences industry. The management team is led by Tom Richardson, who has overseen a period of rapid expansion since being appointed chief executive in 2015.
About Graphite Capital
Graphite is a specialist provider of private equity finance to mid-market companies in the UK. It backs companies in a variety of sectors with enterprise values of £25 million to £200 million. In 2018, Graphite raised over £500 million for its ninth fund, Graphite Capital Partners IX.