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Crescent Capital Supports European LifeCare Group’s Buyout of CityDoc

January 06, 2020, 09:00 AM
Filed Under: Healthcare

Crescent Capital Group LP, a leading alternative credit investment firm, announced that its European Specialty Lending strategy has provided unitranche financing to support the acquisition of CityDoc, a UK-based network of health clinics specializing in the provision of travel medicine/vaccinations and private blood screening, by European LifeCare Group, Europe’s largest provider of vaccinations and a portfolio company of Inflexion Private Equity. Crescent has also provided an acquisition facility to support future acquisitions as European LifeCare pursues its buy-and-build growth strategy. Terms of the financing were not disclosed.

European LifeCare was founded in 1998 and has more than 50 specialist clinics across Denmark and the U.K. The company is also a contracted service provider of immunization programs in schools and national influenza vaccination programs for the Danish public healthcare system and English NHS. In November 2018, Inflexion Private Equity acquired a minority stake in the company to help it expand its number of clinics through a rapid buy-and-build strategy. This marks Crescent’s second transaction with Inflexion Private Equity, following the March 2018 unitranche financing for the acquisition of Enitial by Inflexion portfolio company, Cawood Scientific.

“European LifeCare’s acquisition of CityDoc will help the company grow its footprint of clinics across Europe and further solidify its position as a leading provider of vaccinations, and we are pleased that Crescent is able to provide the financing to facilitate this growth strategy,” said Christine Vanden Beukel, Managing Director and head of Crescent’s European Specialty Lending strategy. “Working with repeat sponsors like Inflexion 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.”

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