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Crescent Capital Group LP, a leading alternative asset management firm, announced today that its European Specialty Lending strategy has provided refinancing to the existing banking facilities of Avania, a leading global full-service contract research organization ("CRO") focused on medical technology development. Avania is a portfolio company of Kester Capital. Terms of the financing were not disclosed.
Headquartered in Bilthoven, the Netherlands and serving sponsors worldwide, Avania is focused on the management of clinical studies for medical devices, medical device/drug combinations and biological and cell-based products internationally. Avania was acquired by Kester Capital in 2016, and with that investment, Avania started a successful journey to establish global presence through organic growth and multiple acquisitions in Europe, U.S. and Australia.