CVC Credit leads the refinancing and merger of Kanalservice Gruppe and Group Sasti

CVC Credit is pleased to announce that it has led the refinancing and merger of Kanalservice Gruppe (“KSG”) and Grupo Sasti, to create a leading pan-European critical infrastructure services platform. CVC Credit acted as sole lender on the financing for funds advised by Ufenau Capital Partners and has structured committed follow-on capital to support KSG’s systematic buy-and-build strategy.

Established in 1958 and headquartered in Switzerland, KSG is a provider of critical infrastructure services, primarily focused on the water vertical. The company delivers end-to-end inspection, cleaning and maintenance services to more than 35,000 customers across corporates, municipalities and private households. KSG operates across Switzerland, Germany, the Netherlands, Belgium and the UK. Through its merger with Grupo Sasti, the company will expand its one-stop-shop offering into the Iberian market, further diversifying its geographic footprint and strengthening its service capabilities. 

Christine Weis, Managing Director in CVC’s Private Credit team, said: “This transaction reflects our continued focus on backing resilient businesses with strong growth strategies. KSG benefits from highly predictable cash flows, underpinned by recurring demand for essential, non-discretionary infrastructure services and a large base of repeat customers. We are also pleased to partner with Ufenau Capital Partners again, a well-established sponsor we have successfully supported across previous transactions.”

Andrew Davies, Head of CVC Credit, added: “KSG operates in an attractive market characterised by resilient demand, recurring revenues and underlying growth drivers – this is exactly what we are looking for in our core mid-market senior direct lending strategy. Given our integrated platform, once again the private credit team leveraged the breadth of the CVC network to support our due diligence, including insights from our global infrastructure team.”

This investment has been made through CVC Credit’s European Direct Lending strategy, which focuses on lending to established European medium and large companies backed by top Private Equity sponsors, with a focus on the senior secured piece of the capital structure.