Crescent European Specialty Lending Announces Financing for the Acquisition of D. Van Der Steen by IceLake
May 13 2024 - 3:00AM
Business Wire
Crescent Capital Group LP, a leading alternative credit
investment firm, announced today that its European Specialty
Lending strategy has provided financing to support the acquisition
of D. Van Der Steen (VDS), a leading full-service provider of road
maintenance services for municipalities and provinces in the
Netherlands, by IceLake, a private equity firm.
Founded in 1911 and headquartered in Utrecht, the Netherlands,
VDS provides road maintenance services such as milling, paving,
compacting, transporting and laying of asphalt, as well as other
ad-hoc services including road signage, sewage replacement and more
across approximately 50 municipalities and provinces throughout the
Netherlands. The company operates as a main contractor and offers
multi-year asphalt maintenance, natural stone paving and inner-city
infrastructure services with the support of an experienced team and
specialized machines.
“With this financing from Crescent, the partnership between VDS
and IceLake will be able to expand the company’s presence
throughout the Netherlands and strengthen its infrastructure and
road maintenance services as it seeks to enhance its positioning as
one of the top asphalt maintenance and road specialists in the
country,” said Christine Vanden Beukel, Managing Director and head
of Crescent’s European Specialty Lending strategy. “Crescent is
proud to provide the kind of flexible capital solutions needed by
European private equity sponsors like IceLake and proven, growing
companies like VDS.”
About Crescent Capital Group LP
Crescent is a global credit investment manager with $43 billion
of assets under management as of March 31, 2024. For over 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,
Chicago and London with more than 225 employees globally. Crescent
is a part of SLC Management, the institutional alternatives and
traditional asset management business of Sun Life. For more
information about Crescent, visit www.crescentcap.com.
About D. Van Der Steen
Since Dirk van der Steen founded the company in 1911, VDS has
developed from a paving contractor to a service provider in the
field of inner-city infrastructure. The company is comprised of
over 100 employees who support in providing road maintenance
services. VDS benefits from a strong market position, being
recognised as the number 2 player in the Dutch asphalt maintenance
market and the number 1 road specialist. For more info see
https://dvds.nl/#dienstverlening.
About IceLake
IceLake is a private equity firm that invests in leading
companies that can benefit from IceLake's support in executing
their growth strategies. The firm has offices in the Netherlands
and Germany. For more info see https://www.icelakecapital.com/.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240513544177/en/
Mendel Communications Sarah Troutt, +1-917-664-0319
sarah@mendelcommunications.com