Carlyle Mulls Handing Security Firm Praesidiad Over to Creditors
- Investor group includes Alcentra, Bain, Capital Four, Cheyne
- Company will need OFSI license as Gazprombank is among lenders
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Private equity firm Carlyle Group is said to be leaning toward handing over portfolio company Praesidiad Group Ltd. to a group of creditors as part of a debt restructuring.
The UK-headquartered security systems company and its creditors have been locked in negotiations over how to deal with debt coming due next year, with the most likely scenario being a lender takeover of the firm, according to people familiar with the matter, who asked not to be identified discussing private information. The ad hoc group of creditors comprises Alcentra, Bain Capital Credit, Capital Four and Cheyne, they said.