Crescent Capital Group LP, a leading alternative asset management firm, announced today that its European Specialty Lending strategy has provided unitranche financing to support the acquisition of NAVTOR by Accel-KKR, a leading global software-focused investment firm headquartered in Silicon Valley. Crescent has also provided an acquisition facility to further accelerate NAVTOR’s top-line growth through strategic M&A. Terms of the financing were not disclosed.
NAVTOR is the global leader in the provision of navigational software for the maritime industry. Its cloud-based e-navigation solutions include Electronic Navigational Charts (ENCs), digital maritime publications, route optimization and fleet management across an integrated platform. The company effectively provides all critical voyage information at the fingertips of navigators in order to solve the complex challenges of passage planning. The global maritime e-navigational industry is on a multi-year technological expansion in large part due to new regulations, an increased focus on safety and ESG goals, and advances in technology.
“This financing for NAVTOR will be instrumental in the company’s plans to accelerate its organic growth strategies and expand further through M&A. NAVTOR is the clear leader in navigational software for the maritime industry driven by its superior technological product suite, and we are proud to support its growth in its next chapter with Accel-KKR. The company is well-positioned to take advantage of the continued digitization of the maritime industry, ensuring safe passage of vessels and crew members through different territories,” said Christine Vanden Beukel, Managing Director and head of Crescent’s European Specialty Lending strategy. “This transaction continues to demonstrate Crescent’s ability to provide customized financing solutions to top-tier sponsors investing in market-leading companies with clear competitive advantages and mission-critical products.”
About Crescent Capital
Crescent Capital is a global credit investment manager with approximately $28 billion of assets under management. For over 25 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 Capital is headquartered in Los Angeles with offices in New York, Boston, and London and more than 175 employees globally. For more information about Crescent Capital, visit www.crescentcap.com and follow along on Twitter @CrescentCap.