Sankaty arranges €80m financing

The Bain affiliate provided both junior and senior debt to GMT-owned IT company DOCUgroup.

Sankaty Advisors, the credit affiliate of buyout firm Bain Capital, has provided an €80 million debt financing packaged to GMT Communications Partners-owned DOCUgroup. The company provides data and information services to the construction industry.

The financing package comprises both mezzanine and senior debt, the firm said in a statement. Sankaty provided the entire €62 million mezzanine tranche and also participated in the senior tranche alongside other, undisclosed, lenders.

The majority of the capital was drawn from Sankaty Middle Market Opportunities Fund II, a $1.38 billion fund which closed in December last year.

Sankaty is an existing investor in the business, having first backed the company in 2007. Private equity firm GMT Communications Partners invested in the company back in 2004, and has since overseen 13 bolt-on acquisitions to the company since then.

“Sankaty has been a great partner to DOCUgroup management and GMT,” said GMT managing partner Jeff Montgomery in the statement. “The sizeable mezzanine tranche provides the company with increased cash flexibility to help it grow and the senior financing reflects Sankaty’s ability to tailor innovative financing solutions for companies across the capital structure.”