CVC Credit is pleased to announce that it has provided unitranche debt facilities to support PAI Partners’ acquisition of Scrigno, a leading producer of frames for sliding and pocket doors. CVC will support the continuing growth of the business through its European Direct Lending strategy, which focuses on lending to established medium and large European companies with proven business models.

Scrigno is a leading European player in the production and commercialisation of frames for sliding and pocket doors. With a primary focus on residential applications, the company operates through three business units: counter-frames, security doors and performance products. The business is renowned for its strong brand and excellent quality of its products. Scrigno employs over 300 people and operates five manufacturing facilities in Italy.

John Empson, Partner and Co-Head of Private Credit at CVC Credit, commented: “Scrigno is the dominant player in its key European markets with a strong reputation built on product quality, durability and innovation. It is a resilient business gaining increasing penetration thanks to the space saving nature of pocket doors, increasing focus on houses’ energy consumption reduction through its performance products and growing international consumer demand. CVC is excited to build on its strong relationship with PAI Partners to support them and Scrigno’s excellent management team in delivering the company’s growth strategy.”

Raffaele R. Vitale, a Founding Partner of PAI Mid-Market Fund, commented: “We are excited to invest in Scrigno, the European leader in the manufacturing of counter-frames for pocket doors. We look forward to partnering with the CEO, Maddalena Marchesini, and the rest of the management team to support the ambitious growth plans they have for the business. This will be achieved through both organic growth and acquisitions, and we intend to actively support the company’s internationalisation through our pan-European presence and sector expertise.”