Colesco, a sustainability-focused direct lender, has announced an investment in the the newly established Circreate Group.
The transaction, for which Dutch Rabobank acted as cornerstone investor, marks Colesco’s first investment in the energy transition, backing Circreate Group’s growth ambitions.
Colesco did not disclose the exact amount of the transaction but the lender generally provides senior secured debt to mid-market companies between €10-100m EBITDA with loans between €50-250m.
Circreate Group, formed by the partnership of Constructif and Willems Vastgoedonderhoud B.V. ("Willems”), offers real estate renovation, maintenance, and sustainability improvement (RMI) services to Dutch housing corporations and semi-public organisations, including educational and healthcare institutions. The group's focus on enhancing building energy efficiency aligns with Colesco's thematic investment strategy centred on the ‘Energy Transition’.
The sustainability-linked unitranche financing facility from Colesco will refinance Constructif's existing debt and support its growth and expansion, facilitated by IceLake.
Jacco Rolvink, head of Benelux at Colesco, commented: “We are proud to partner with the Circreate Group and accelerate their growth. The combined company will become a leading player in the Dutch RMI market, directly contributing to improved energy efficiency in real estate, helping to mitigate climate change, and enhancing the quality of living.”
Karin Pasha-Huizinga, responsible investment officer at Colesco, added: “The Circreate Group embodies the type of company we aim to partner with. Their focus on sustainability and liveability generates real-world impact. We look forward to supporting their ambitious sustainability goals.”
