UP Holding

In August 1996, Crescent led the management buy-out of Unidare Plastics Limited, a manufacturer of plastic piping and ducting selling to the telecommunication and water industries.

Subsequently, the company failed to perform to expectations which ultimately resulted in an organised winding down of the business. Although written off at that time, Crescent’s role in the winding down enabled the trading entities to be divested whilst retaining ownership for Fund I of the potentially valuable industrial properties. Subsequent to the wind down, Crescent took over the management of the site, the properties were upgraded and let, generating an income stream which paid down a portion of the debt taken on to fund their acquisition.

In 2006, the site was sold for £4.35m, delivering a £1.7m profit for Fund I.