Asset management firm Crescent Capital Group is to provide an unitranche facility to support the refinancing of DMC Group, via its European Specialty Lending strategy funds.
Crescent has also agreed to provide an acquisition facility to further support DMC Group’s strategic plans for acquisition-led growth.
DMC Group is now a global platform for needlecraft and technical yarn brands, including French embroidery brand DMC, Wool and the Gang, Sirdar, and Tilsatec. The company manufactures and supplies embroidery, knitting and crotchet products, selling them online and via specialty craft chains, retail chains, independent retailers, wholesalers and distributors.
Christine Vanden Beukel, managing director and head of Crescent’s European Specialty Lending strategy, said: “We are proud to support Lion Capital and DMC Group on this refinancing, which we believe will continue to support the company’s strong growth trajectory as the preeminent leader in needlecraft brands.
“This transaction continues to demonstrate Crescent’s ability to provide flexible financing for innovative, market-leading companies.”
DMC Group is a portfolio company of private equity firm Lion Capital.
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