CVC Credit supported Advent International’s acquisition of IRCA, helping finance an attractive value-creation plan during a period of market volatility, enabling IRCA to strengthen its leadership position.
Backing a leader in speciality ingredients
With headquarters in Italy, IRCA is global leader in high-quality food ingredients, serving manufacturers and artisanal producers of pastries, cakes, confectionery and gelato in over 100 countries. IRCA has over 1,000 large, international clients and 300 distributors.
CVC Credit first invested in the business in 2022 and, leveraging the sector knowledge of CVC’s Private Equity team, was able to support Advent and IRCA’s attractive value-creation plan, which has enabled organic and inorganic growth in a complex financing environment. As market conditions improved in 2024, CVC’s Capital Markets and Performing Credit teams were well positioned to capitalise on our institutional relationships, to help IRCA refinance its capital structure in the bond market.