Doughty Hanson has secured debt financing to back its buyout of a logistics group eight months after stumping up about £250m for an all-equity deal to acquire the company amid a more difficult lending environment.

The UK private equity firm has secured £205m of financing from a club of banks to refinance its acquisition of Asco, which it acquired at the end of last year. The club comprised of Bank of Ireland, DNB, GE Capital, HSBC, ING, Investec, Lloyds Banking Group, NIBC and Royal Bank of Scotland.