Permira Debt Managers (“PDM”), one of Europe’s leading specialist debt investors, today announces that funds it advises are acting as sole senior secured lender to Away Resorts in the refinancing of its existing debt as part of the sale of LDC’s majority stake to Bregal Freshstream. The refinancing follows on from PDM’s previous investment in Away Resorts.
The acquisition by Bregal Freshstream will see them take a majority stake with LDC retaining a minority shareholding.
The Permira Credit Solutions Funds’ financing will support the continued growth of the business in an attractive sector. Away Resorts has continued to grow since PDM’s initial support and has proven its ability to scale and diversify its revenues.
The deal continues PDM’s strategy of providing supportive capital to ambitious niche market leaders.
The PDM funds have now supported over 150 ambitious and fast-growing European companies with over €8bn of capital since PDM’s inception in 2007.