CVC Credit finances Sun European's WesCom acquisition

CVC's European Private Debt business will provide a senior term unitranche loan, as well as facilities to support WesCom's expansion plans.

Sun European has drawn equity for the acquisition from its seventh-generation vehicle, which closed on $2.3bn in July 2019 and is now 30% deployed. This is the fund's third European portfolio company.

The firm expects to support WesCom in a buy-and-build strategy as well as expand sales in its core and complementary product lines.

Founded in 1885 and headquartered in Havant, WesCom designs, manufactures and distributes pyrotechnic rescue signalling devices. The division has been carved out from technical maritime services provider Drew Marine, though Unquote understands WesCom is operationally separate from its parent company. The division reports EBITDA of around £70m.

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• Topics
• Buyouts
• UK / Ireland
• Consumer
• Sun European Partners
• CVC Credit Partners
• Carve-out
• United Kingdom