Altamont-backed McLarens nabs $107 mln

McLarens, a portfolio company of Altamont Capital Partners, has received a $107 million credit facility. GE Antares, a unit of GE Capital, served as the administrative agent while GE Capital Markets was lead arranger and joint book runner on the loan. Headquartered in Atlanta, McLarens is a provider of claims management, loss adjusting, pre-risk and damage surveying and auditing services.

PRESS RELEASE

CHICAGO–(BUSINESS WIRE)–GE Antares, a unit of GE Capital, announced today it served as administrative agent on a $107 million multi-currency, cross-border credit facility to McLarens Global Limited (McLarens). The transaction refinanced the company’s senior debt, repaid its subordinated debt and provided flexibility for future acquisitions. GE Capital Markets served as lead arranger and joint book runner on this facility.
“This financing strengthens our financial position in order to grow, both here in the U.S. and abroad,” said Toby Skelton, chief financial officer of McLarens, “We continue to benefit from our relationships with the GE team.”
Headquartered in Atlanta, Georgia, McLarens performs claims management, loss adjusting, pre-risk and damage surveying, and auditing services for companies throughout the world.
“I’m pleased GE Capital was able to deliver its cross-border capabilities and expertise on a complex transaction for McLarens and its private equity owner, Altamont Capital Partners,” said James Kenefick, senior managing director of GE Antares, “We look forward to working with McLarens as the company continues to grow.”
“We’re pleased to have the opportunity to work with our colleagues in the U.S. on closing this transaction for McLarens,” said Howard Sharp, head of U.K. originations and sponsor coverage of GE Capital, “By partnering together, we are able to meet the global needs of our sponsors and their portfolio companies.”
About McLarens
McLarens performs claims management, loss adjusting, pre-risk and damage surveying, and auditing services for companies throughout the world. Specific areas of expertise include Aviation, Agriculture, Property, Casualty, Technical Services, Transportation, Crime & Specie, Claims Management, and Audit. Headquartered in Atlanta, Georgia, USA, McLarens has offices around the world. McLarens’s global footprint enables it to provide streamlined consistent service to global customers, while at the same time delivering local expertise and responsive service. McLarens is the only global, employee-owned loss adjusting firm in the world. McLarens’ adjusters have an average of over 20 years of claims experience, and this experience is a key part of how McLarens has built its reputation for high quality loss adjusting services. www.mclarens.com
About GE Antares Capital
GE Antares is a unit of GE Capital. We are builders, not bankers. With offices in Atlanta, Chicago, Los Angeles, New York, and San Francisco, GE Antares is a leading middle market lender, offering a “one-stop” source for GE’s lending and other services offered to middle market private equity sponsors. GE Antares was recognized by Private Debt Investor and Private Equity International as 2013 Lender of the Year, North America and Mid-Cap Lender of the Year, North America, respectively. For more information, visit geantares.com.
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (https://twitter.com/GECapital).
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company’s website at www.ge.com

 

 

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