LONDON & LOS ANGELES–(BUSINESS WIRE)–Crescent Capital Group LP, a leading alternative credit investment firm, announced today that its European Specialty Lending strategy has provided financing to support the acquisition of PlayGreen B.V., a Netherlands-based holding company whose subsidiaries form one of the world’s leading natural turf management companies, by U.S.-based private equity firm Bruin Capital.
PlayGreen is comprised of Stadium Grow Lighting (SGL) and ALVA Technology and their subsidiaries. Together, the group’s proprietary technologies and comprehensive R&D systems are responsible for the growth and maintenance of natural grass fields, pitches, golf courses, tennis courts, and playing surfaces for more than 600 international sports teams, leagues, and governing bodies around the world. Founded in 1997, the group’s customised solutions support facilities and venues that produce thousands of competitions annually. Among its long-term clients are Tottenham Hotspur, Bayern Munich, FC Barcelona, Arsenal, the Dallas Cowboys, Milwaukee Brewers, Boston Red Sox, Wimbledon, Twickenham (rugby), and hundreds more of the industry’s most prestigious sports entities. The company’s offerings comprise fully integrated turf management solutions such as LED grow light systems, UVC light machines, turf fans, as well as services including data monitoring solutions and maintenance.
“Partnering with Bruin Capital and PlayGreen on this financing represents an exciting opportunity for Crescent to work with a highly-innovative, forward-thinking sponsor and support the sports industry’s go-to provider of unique turf solutions,” said Christine Vanden Beukel, Managing Director and head of Crescent’s European Specialty Lending strategy. “This transaction will help PlayGreen globally expand – particularly in the U.S. – and add complementary products, technology and services through investment and M&A as part of their partnership with Bruin Capital.”
About Crescent Capital Group LP
Crescent is a global credit investment manager with $43 billion of assets under management as of March 31, 2024. For over 30 years, the firm has focused on below investment grade credit through strategies that invest in marketable and privately originated debt securities including senior bank loans, high yield bonds, as well as private senior, unitranche and junior debt securities. Crescent is headquartered in Los Angeles with offices in New York, Boston, Chicago and London with more than 225 employees globally. Crescent is a part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life. For more information about Crescent, visit www.crescentcap.com.
About PlayGreen B.V.
Headquartered in Waddinxveen, the Netherlands, PlayGreen with its two main subsidiaries: Stadium Grow Lighting (https://sglsystem.com/) and ALVA Technology is a leading horticultural technology company, specialised in the design, development and manufacturing of innovative lighting solution for grass growing in controlled environments (i.e. sport venues). Derived from a passion for sports and grass, Stadium Grow Lighting provides the biggest sports venues and clubs worldwide with data-driven technology and expert support to maintain a consistent, high-quality, and safe grass playing surface in the most sustainable way possible. SGL’s service and products rely on a data-driven approach, from in-depth data analysis to smart-operating equipment. Smart technology supports the grounds manager by advising on where, when, and for how long you should use your products to get the best results. This enables grounds teams worldwide to utilize their precious time and resources efficiently and effectively and reach the highest results possible. The extensive research and support from SGL’s agronomy department assures customers that they use their products as effectively and efficiently as possible. This way, they can guarantee the highest possible grass quality and maximum energy savings.
About Bruin Capital
Founded in 2015 by George Pyne, Bruin Capital (www.bruincptl.com) is an Investment / Operating Company Specializing in Global Sports. Since its launch, Bruin has raised more than $1 billion in committed capital and has closed nearly 40 acquisitions. The current portfolio includes Engine Shop, Fair Play Sports Media, Full Swing, Proof of the Pudding, Soulsight, and TGI Sport. Their collective operations include more than 5,000 employees across five continents. Their work impacts billions of sports fans on behalf of virtually every major sports league, media company, federation, and rights holder.
Contacts
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