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LONDON – February 10, 2014 – Bain Capital Credit, formerly known as Sankaty Advisors, 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). Bain Capital Credit 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, Bain Capital Credit 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.”
“Bain Capital Credit 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 Bain Capital Credit's ability to tailor innovative financing solutions for companies across the capital structure.”
Much of the capital to support DOCUgroup comes from Bain Capital Credit Middle Market Opportunities Fund II (MMOPs II), a $1.38 billion fund, which closed in December 2013. Bain Capital Credit's 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 Bain Capital Credit’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.”
Bain Capital Credit, formerly known as Sankaty Advisors, is one of the world’s leading private managers of fixed income and credit instruments. Founded in 1998 and now managing more than $26 billion of assets, Bain Capital Credit has an integrated team of more than 230 people that enables the firm to invest up and down the capital structure and to conduct rigorous, independent analysis of thousands of corporate issuers. Bain Capital Credit invests in a wide variety of securities and investments globally, including leveraged loans, high-yield bonds, distressed and stressed debt, mezzanine debt, structured products, real estate and equities. An employee-owned private partnership, the firm has offices in Boston, New York, Chicago, London, Luxembourg, Dublin, Hong Kong and Melbourne. Bain Capital Credit is registered with the Securities and Exchange Commission and Bain Capital Credit, Ltd., is authorized and regulated by the Financial Conduct Authority. For more information, please visit www.baincapitalcredit.com.
Bain Capital Credit’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.
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
DOCUgroup (http://www.docugroup.info/english/) 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.
This press release has been updated to reflect the new business unit name, "Bain Capital Credit," which was changed from "Sankaty Advisors."