Permira Debt Management (PDM) has acted as sole lender to consultancy firm RSK Group to support its continued international expansion, the London-headquartered firm said.
The £33 million ($51.5 million; €49 million) long-term loan provided and arranged by Permira Credit Solutions II (PSC2) will be used to convert existing amortising debt into a flexible bullet repayment loan. It will also provide additional funding to enable the business to continue its growth into new markets across the UK, mainland Europe and the Middle East.
Almost €200 million of capital has been deployed from PSC2 with RSK its seventh investment, Thomas Kyrakoudis, chief investment officer of PDM, said in a statement.
The firm’s second direct lending fund is nearing its fundraising target of €800 million and is due to close in July.
“We are very impressed by what RSK have been able to achieve over the past 25 years from their own resources. The company has reached a position of strength in the European environmental and engineering consultancy market and we are delighted to be partnering with them to support their next phase of growth,” Dan Hatcher, investment director at PDM, said.
RSK Group advises clients in the energy, infrastructure, oil & gas and construction sectors on how to manage their land and property assets both cost effectively and in compliance with regulations on health, safety and environmental issues. Founded in 1989, the firm now has 1,000 employees and offices in around 20 countries.