European Capital Arranges Debt Financing to Support the Buyout of Xendo, a Leading Consultancy to the Life Sciences Industry, Backed by Sovereign Capital
LONDON, June 8, 2016
European Capital Fund Management Limited announced today that its European mid-market direct lending fund, European Capital Private Debt, LP, has provided unitranche financing to support the buyout of Xendo (the “Company”) backed by Sovereign Capital, the UK private equity Buy & Build specialist.
Xendo, headquartered in the Netherlands, is a leading independent consultancy and project management organisation in the pharmaceutical products, medical devices and healthcare fields. The Company’s ambition is to enhance the quality and safety of medicine and help shorten the time to market for drugs and medical devices that improve the quality of life. Xendo operates from three countries in Europe (UK, Netherlands and Germany) and in Japan.
“We are pleased to partner with Sovereign Capital and to support the buyout of Xendo,” said Matthew Gordon Clark, Managing Director of European Capital in London. “Xendo represents our first unitranche financing in the Netherlands having looked at a number of opportunities. We look forward to building on this transaction and providing further tailor-made solutions to leading mid-market private equity sponsors looking to invest in the Netherlands.”
Colin Wright, Director of European Capital in London, added, “Xendo has an exciting opportunity to develop its business and extend its geographic reach during our investment timeframe and we look forward to supporting the management team and Sovereign Capital to help achieve this.”
“Sovereign Capital is pleased to work with European Capital and we appreciated their flexibility, speed and professionalism as well as their appetite to provide further funding during the investment,” commented Jonathan Kay, Investment Director of Sovereign Capital.
ABOUT EUROPEAN CAPITAL FUND MANAGEMENT
European Capital Fund Management Limited manages €600 million in two funds. With offices in London and Paris, it seeks to provide direct funding in the form of unirate, mezzanine and senior financing to sponsor-led lower and mid-market European companies. European Capital Fund Management Limited is an English limited company regulated by the Financial Conduct Authority, and is an indirect, wholly owned affiliate of American Capital, Ltd.
ABOUT EUROPEAN CAPITAL PRIVATE DEBT, LP
The European Capital Private Debt, L.P. (the “Fund”), seeks to provide direct funding in the form of unirate, mezzanine and senior financing to sponsor-led mid-market Western and Northern European companies. The Fund is established in the UK and is managed by European Capital Fund Management Limited, an English limited company regulated by the Financial Conduct Authority, and an indirect, wholly owned affiliate of American Capital, Ltd.