By Andrei Skvarsky.
Specialist debt investor Permira Debt Managers has enlarged the 150-company list of recipients of its financial support by lending to private equity group Bridgepoint to help it to buy out software testing company Qualitest.
PDM’s Permira Credit Solutions Fund acted as senior secured lender in providing Bridgepoint with a loan that enabled it to buy a majority stake in Qualitest from investment firm Marlin Equity Partners, according to a PDM statement and a July 10 statement from Marlin.
Reuters, citing banking sources, put the syndicated loan at $150m. The amount lent by the Permira fund has not been disclosed.
The PDM statement described Qualitest as “the world’s largest pure-play outsourced software testing and quality assurance provider” and said it employs more than 2,500 people worldwide and has “a service delivery platform that spans North America, Europe and South Asia”.
Reuters said Goldman Sachs was among the other lenders.
In August, a PDM loan enabled German private equity firm Emeram to buy out German digital services provider ]init[. In July, PDM provided Sotralu, a French manufacturer of accessories for sliding doors and windows, with a loan for debt refinancing and acquisitions.
Since its inception in 2007, PDM has put more than €8bn into more than 150 companies in various industries in 12 European countries, according to PDM’s website.
PDM, which is headquartered in London, is focused on technology-driven companies in its investment strategy, according to its statement about the Bridgepoint loan.
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