CVC Credit Partners ("CVC") announced today that CVC's U.S. Middle Market Private Debt business acted as Administrative Agent on a first lien senior secured debt facility provided to Wastewater Specialities, LLC ("WWS"). The proceeds were used to refinance existing debt and support future growth through equipment purchases.
Headquartered in Lake Charles, Louisiana and employing over 300 people, WWS is a provider of industrial and specialty cleaning services to >500 industrial, marine, oilfield and commercial customers. The company was acquired in December 2014 by Polus Capital and management.
David Rous, Managing Director in CVC Credit Partners' Private Debt business said: "We are delighted to partner with WWS and look forward to helping the company meet its growth targets. WWS has a great team and is ideally positioned to take advantage of substantial industry tailwinds."
Alan Ying, Managing Director at Polus Capital and CEO of WWS, commented: "The CVC team was responsive, thoughtful, and constructive. They delivered a flexible, fully underwritten solution that will help WWS achieve its goals. We look forward to our continued relationship with CVC."