Crescent European Specialty Lending Announces Unitranche Financing for Bluewater’s Acquisition of IMServ

Acquisition Facility Will Also Support Further Strategic M&A by IMServ

Crescent Capital Group LP, a leading alternative credit investment firm, announced today that its European Specialty Lending strategy has provided unitranche financing to support the acquisition of IMServ, a pioneer of metering and data services for the electricity, gas and water sectors in the U.K., by Bluewater, the specialist international private equity firm focused on the middle market energy sector. Crescent has also provided a committed acquisition facility for IMServ to further accelerate growth through strategic M&A. Terms of the transaction were not disclosed.

With over 500 employees, IMServ is one of the U.K.’s largest independent energy data management providers and the market leader in half-hourly data collection for the industrial and commercial markets. IMServ is well-known for its ability to not only process high volumes of energy data quickly and consistently but also deliver accurate billing and settlement services.

“We are pleased that Crescent is able to provide the financing to facilite the strategic growth of IMServ, which is well-positioned to take advantage of the UK-wide transition to smart meters and half-hourly data processing within the SME and residential markets,” said Christine Vanden Beukel, Managing Director and head of Crescent’s European Specialty Lending strategy. “Working with sponsors with sector-focused funds like Bluewater is a testament to the strength of our flexible capital solutions, and we look forward to continuing to meet the financing needs of sponsors and their portfolio companies.”

About Crescent Capital Group

Crescent Capital Group is headquartered in Los Angeles with offices in Boston, London, and New York. With more than 85 investment professionals and approximately 180 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, unitranche loans, high yield debt, mezzanine debt, and other private debt securities. As of June 30, 2021, Crescent Capital Group managed approximately $34 billion, with a relatively equal split between marketable securities and privately originated debt investments. For more information about Crescent Capital Group, please visit www.crescentcap.com.

About IMServ

IMServ is one of the U.K.’s largest independent energy data management providers. Their end-to-end energy data solutions help organisations across all sectors make intelligent use of their energy. The company offers a range of specialist metering technology for electricity, gas and water along with highly accurate energy data collection services. All of this incorporated within an easy-to-view online data management analysis and reporting software platform. For more information, please visit www.imserv.com.

About Bluewater

Bluewater is a specialist international private equity firm focused on the middle-market energy sector. Their experienced investment and operating professionals drive value creation as they manage $2.5 billion of investment across a portfolio of 22 companies. Today, Bluewater has a prime focus on projects or technologies that contribute to the energy transition agenda, and works to a diversified investment strategy based on the principles of sustainability and close working partnerships with best-in-class management teams. Bluewater has a strong focus on ESG, and is a signatory to the UN Principles for Responsible Investment. For more information about Bluewater, please visit www.bluewaterpe.com.

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