LONDON -- Sankaty Advisors, LLC, as investment manager to its related funds, today announced approximately €80 million in mezzanine finance and senior debt to DOCUgroup, a data and information provider to participants in the construction industry and a portfolio company of GMT Communications Partners (GMT). Sankaty funded the entire €62 million mezzanine tranche and is a participant in the senior financing alongside other lenders. The transaction will refinance DOCUgroup’s entire capital structure.
“Since becoming an investor in DOCUgroup in 2007, Sankaty has been very supportive, helping us finance several acquisitions that have expanded our European reach and enhanced our product offering,” said Peter Schmitz, CEO of DOCUgroup. “They have consistently demonstrated they understand our industry and business, and I look forward to our continued relationship.”
“Sankaty has been a great partner to DOCUgroup management and GMT,” added Jeff Montgomery, Managing Partner of GMT. “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.”
Much of the capital to support DOCUgroup comes from Sankaty Middle Market Opportunities Fund II (MMOPs II), a $1.38 billion fund, which closed in December 2013. Sankaty Advisors’ Middle Market Group actively seeks to invest in the form of debt and equity co-investments in companies with EBITDA of $10 million or greater in Europe, North America and Australia/New Zealand. Since its inception in 1998, the Middle Market Group has provided more than $5 billion in capital for nearly 150 transactions.
“We are delighted to continue supporting DOCUgroup’s growth,” said Alon Avner, a Managing Director and Head of Sankaty’s European business. “This is another exciting investment for our Middle Market Group as we continue to identify and invest in growing businesses in Europe.”
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About Sankaty Advisors, LLC
Sankaty Advisors, LLC is the independently-managed credit affiliate of Bain Capital, LLC and one of the world’s leading private managers of fixed income and credit instruments. Founded in 1998 and now managing more than $21 billion of assets, Sankaty has an integrated team of 200 people that enables the firm to invest up and down the capital structure, and to conduct rigorous, independent analysis of thousands of corporate issuers. Sankaty invests in a wide variety of securities and investments globally, including leveraged loans, high-yield bonds, distressed and stressed debt, mezzanine debt, structured products and equities. An employee-owned private partnership, the firm has offices in Boston, New York, Chicago, London, Luxembourg and Melbourne. Sankaty Advisors, LLC is registered with the Securities and Exchange Commission and Sankaty Advisors, Ltd., is authorised and regulated by the Financial Conduct Authority. For more information, please visit www.sankaty.com
Sankaty’s European team, consisting of more than 30 professionals based in London, has a successful 12-year track record of investing in European leveraged loans, high yield bonds and mezzanine capital, and currently manages investments in approximately 100 companies.
About GMT Communications Partners, LLP
GMT Communications Partners (http://www.gmtpartners.com
) is a European independent private equity group focused exclusively on the media, information, entertainment and telecommunications industries, having actively invested in the European marketplace for the past 20 years. As industry practitioners, GMT focuses heavily on developing new strategic directions for established businesses that are able to benefit from new communication technologies. Since its foundation in 1993, GMT has invested in 32 companies and completed 70 bolt-on transactions across 19 countries, exclusively in European media/ communications
) provides data and information as a basis for better business decisions, and represents effective, multimedia information services in the construction industry. As Europe’s leading specialist publishing group, we focus on architecture, the construction business, and the real estate industry. More than 100,000 companies in eight European countries use our unique resources and applications to function more productively, optimize their business decisions and maximize their sales success.
Since 2004, the success of DOCUgroup has been based on targeted acquisitions and organic growth. By delivering information in a timely, demand-oriented manner, we have been able to expand and improve our services for the construction industry in recent years.