Bain Capital gets $136 mn buyout loan for Indian auto parts maker Dhoot

By Chien Mi Wong and Kari Lindberg

 

Bain Capital LP has obtained a $136 million loan to finance its acquisition of a minority stake in Dhoot Transmission Group, an Indian manufacturer of automotive parts, according to people familiar with the matter.

 

The five-year facility is split into a $111 million term loan and a $25 million revolving credit facility, said the people, who asked not to be identified discussing private matters.

 

Five banks including DBS Group Holdings and HSBC Holdings Plc have been appointed as mandated lead arrangers and bookrunners of the deal, the people said. The borrowing is being syndicated to a limited number of lenders, the people added.

 

Bain Capital and HSBC declined to comment. Dhoot Transmission Group and DBS didn’t respond to requests for comment. 

 

Bain Capital acquired a minority stake in Dhoot Transmission Group last year, according to a company press release. The terms of the transactions, including the total financing size, weren’t disclosed.

 

Dhoot Transmission Group was founded in 1999 by Rahul Dhoot and makes a range of products including electronic sensors and controllers, power cords and automotive cables, among others, according to the firm’s website.