LONDON, Oct 3 (LPC) - Specialist debt investor Permira Debt Managers has scooped a role as senior secured lender on an approximate US$150m loan backing private equity firm Bridgepoint’s acquisition of North American pure-play outsourced software testing and quality assurance provider Qualitest, banking sources said.
The Permira Credit Solutions Fund alongside other lenders, including Goldman Sachs, provided the loan that backs the buyout, the sources said.
It is the latest financing for PDM, which in August backed German private equity firm EMERAM’s acquisition of German full service digital agency Init with a unitranche loan.
Sponsors are increasing seeking alternative forms of liquidity, turning to direct lenders to provide competitive sources of capital.
“We are delighted to have been able to support both Bridgepoint and Qualitest in providing a flexible credit solution to support their continued growth,” said PDM Investment Director Claire Harwood.
Founded in 1997, Qualitest employs more than 2,500 people worldwide and offers AI-powered quality engineering and testing solutions for mid to large sized companies in the technology, financial services, retail, telecom, healthcare, insurance aerospace, media and utilities industries. (Editing by Claire Ruckin and Christopher Mangham)