CVC Credit provides financing to TPG for the buyout of DOC Generici. It’s the second deal in Italy for the 6.3 bn euro direct lending fund

CVC Credit, through its third European direct lending fund, has financed TPG in its acquisition of control of DOC Generici, a leading producer of generic drugs in Italy, following the signing of binding agreements last Summer with seller funds ICG and Mérieux Equity Partners (see here a previous article by BeBeez). This was announced by the private credit arm of alternative asset giant CVC in late November (see the press release here), but the news had so far never been made public in Italy. The size of the financing has not been disclosed, but recall that the buyout was conducted, it is said, based on a enterprise value of around €1.6 billion for the group, which closed its 2021 financial statements with €244.6 million in revenues,