Techone refinances bank debt with facility from Barings

Another European middle-market transaction has emerged in favor of direct lending funds, with Techone — a service provider in the field of cloud services and telecommunication for small and medium-sized enterprises — refinancing its bank debt with direct lender Barings, according to market sources.

The deal comprises the debt refinancing as well as the financing of two add-ons and an acquisition line, sources said.

Nielen Schuman advised on the deal, while Hogan Lovells advised Barings and DLA Piper advised Techone.

Techone acquired Lagarde Groep, a player in the field of ICT, communications and security, in November.

Nedvest Capital-owned Techone comprises 21 companies offering various IT services.