Permira Debt Managers (“PDM”), one of Europe’s leading specialist debt investors, announced today that the Permira Credit Solutions Funds (“PCS Funds”) have refinanced the existing debt of Anaveo to continue to support the company’s long-term growth strategy. The PDM funds first started backing the company in December 2015 by providing the initial financing for Bridgepoint Development Capital’s acquisition of Anaveo. This new investment is at the heart of the direct lending funds’ strategy of partnering with successful, fast-growing European businesses across Europe.
Founded in 2001 and headquartered in Lyon, Anaveo is the French market leader in electronic security solutions for the retail sector, a resilient and fast-growing market. The company is a fully integrated security specialist, covering video surveillance, intrusion detection, access control and fire detection from on-site study to annual maintenance. Anaveo has demonstrated a strong track record of both organic growth and acquisitions since 2015 and has grown to become one of the key players in the security environment in France.
Roy Awad, Investment Director at PDM, commented: “We are very happy to continue supporting the growth of Anaveo today. The Management team has done a great job during the last two years in growing the business into new verticals and acquiring new technologies and know-how. This transaction is in line with our fund’s direct lending strategy of backing leading sponsors like Bridgepoint Development Capital and providing flexible financing solutions to fast-growing businesses across Europe.”
Mayer Brown acted as legal advisor to Anaveo, while Jones Day provided legal advice to the lenders in connection with the financing.