LONDON & LOS ANGELES–(BUSINESS WIRE)–Crescent Capital Group LP, a leading alternative credit investment firm, announced today that its European Specialty Lending strategy has provided unitranche financing and an equity co-investment to support the acquisition of SRL Traffic Systems by LDC, the U.K.-based private equity arm of Lloyds Banking Group. Terms of the financing were not disclosed.

SRL is the leading supplier of portable and temporary traffic light systems to the traffic management industry in the U.K.

Headquartered in Cheshire, SRL boasts a nationwide network of 26 depots. Its equipment is used on many of the U.K.’s large infrastructure projects, providing customers with 24/7 support and maintenance services. SRL today operates a fleet of more than 7,500 units and in its latest financial year recorded a turnover of £18.4 million.

“We believe that this financing represents an incredible opportunity to support SRL Traffic Systems, which has a dominant market position in the supply of portable traffic lights that has delivered consistent, long-term organic growth in a stable, non-cyclical market where there are high barriers to entry driven by stringent traffic and road safety regulations,” said Christine Vanden Beukel, Managing Director and head of Crescent’s European Specialty Lending strategy. “We are delighted to work with LDC again, having financed its acquisition of ChargePoint Technology in 2017. This financing is a good example of our ability to provide flexible capital solutions to leading private equity sponsors and market leading companies.”

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 $26 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 LDC

LDC is the private equity arm of Lloyds Banking Group and is authorised and regulated by the Financial Conduct Authority.