Credit bigwigs back Thoma Bravo’s Nearmap deal
Four loan funds will pay up to $236 million ($369 million) to help finance Thoma Bravo’s bid for Australian mapping software company Nearmap.
The financiers – Bain Capital Credit, MS Capital Partners, Jefferies Credit Partners and Carlyle Global Credit Investment Management – formally made their commitments last week, and their funds will be used to acquire Nearmap and pay associated transaction costs and expenses.
The debt package comes with an equity commitment from Thoma Bravo, a major U.S. private equity firm, worth $1.055 billion, according to the Nearmap program book filed at the end of the week. last.
Thoma Bravo writes the check for Thoma Bravo Discover Fund IV, a $4.5 billion fund focused on investing in middle-market software and technology companies.
Thoma Bravo offered $2.10 per share for Nearmapor $1.055 billion, as part of an agreement to be concluded via a plan of arrangement.
Nearmap shareholders were asked to vote on the deal in time for a November 25 plan meeting. Shares of the company were trading at $1.99 on Monday.