CVC Credit Partners ("CVC Credit") announced today that CVC Credit’s European Private Debt Business has provided a €50 million unitranche facility to Trimb Healthcare, to support its acquisition of the Pevaryl and Fungoral brands in certain European countries from Johnson & Johnson.

Trimb Healthcare, sponsored by lead investor Avista Capital since 2015, is a niche pharmaceutical company, focusing on the development, sales and marketing of branded over-the-counter pharmaceuticals and consumer healthcare products. Avista Capital is a healthcare specialist, with significant sector experience and 17 investments completed to date.

Neale Broadhead, Managing Director & Portfolio Manager in CVC Credit Partners' direct lending business, said: "We are very excited to announce our 24th investment in Europe, and our second in only a week. We are pleased to be supporting Avista Capital, with their excellent track record of investing in the sector. We look forward to a long partnership as they continue to expand Trimb’s portfolio."

Chris Fowler, Managing Director in CVC Credit Partners' direct lending business, added: "Launched in the 1970s and early 1980s, the Pevaryl and Fungoral brands have leading market positions and high consumer awareness across Europe. The brands are highly complementary to Trimb's existing dermatology and skin care portfolio and we are excited to support Trimb in its vision of consolidating the fragmented OTC pharma market."

Kunal Pandit, Partner at Avista Capital, commented: "It has been a pleasure to work with CVC Credit. Their speed of execution facilitated the acquisition of the Pevaryl and Fungoral brands. In addition, CVC Credit's flexibility to provide additional financing support to the Company allows us to look for further opportunities to grow and expand Trimb's product range and geographic footprint."