Crescent Capital Group LP has partnered with U.S.-based private equity firm Bruin Capital 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.
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.”
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