A unit of Crescent Capital Group, an alternative credit investment company based in West Los Angeles, has provided financing for the purchase of a European pharmacy chain purchased by Bencis Capital Partners.
Crescent Capital announced Feb. 21 its European Specialty Lending unit had helped finance the Bencis acquisition of AIO II, a Netherlands-based holding company for more than 50 Medsen drug stores as well as Ceben, a large compounding pharmacy. Terms of the sale were not disclosed.
“By providing this critical financing for the acquisition of AIO II, which operates in a fragmented landscape, the company can continue to execute on its buy and build growth trajectory,” said Christine Vanden Beukel, managing director of Crescent’s European Specialty Lending, in a statement.
The Business Journal in May 2018 ranked Crescent Capital Group as the region’s 26th largest money management firm according to assets managed in Los Angeles County.
As of December 31, 2018, the Sawtelle neighborhood-based company reported more than $24 billion in assets split between marketable securities and privately originated debt investments.
Health business reporter Dana Bartholomew can be reached at firstname.lastname@example.org. Follow him on Twitter @_DanaBart.
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