GE Antares, a Chicago-based unit of GE Capital, provided a $405 million senior credit facility to support Leonard Green & Partners’ acquisition of Tank Holdings, a manufacturer of rotational polyethylene and steel storage tanks and containers. Leonard Green is an L.A.-based private equity firm.
GE Antares, a unit of GE Capital, announced today it served as administrative agent on a $405 million senior credit facility to support the acquisition of Tank Holdings Corp. by Leonard Green & Partners. GE Capital Markets served as lead left arranger and joint bookrunner on the transaction.
Jointly headquartered in Lincoln, Neb. and St. Bonifacius, Minn., Tank Holdings Corp. is North America’s leading manufacturer of proprietary rotational molded polyethylene and steel storage tanks and containers used in above ground, below ground and portable applications.
“GE Antares has a deep understanding of Tank’s business,” said Usama Cortas, principal at Leonard Green & Partners “They have grown with the company, delivering tailored financial solutions that meet the needs of the business today and in the future. Their insight and industry knowledge was vital to the success of this acquisition.”
“We have developed a strong relationship with Leonard Green over many years and our history with Tank Holdings goes back to the late eighties,” said James Kenefick, senior managing director of GE Antares. “We are pleased to have these long-standing relationships and look forward to continuing to grow with both Tank Holdings and Leonard Green & Partners in the future.”
Tank has diversified product offering and specializes in agricultural, industrial, intermediate bulk containers, material handling and water/waste product lines.
About Leonard Green & Partners
Leonard Green & Partners, L.P. (“LGP”) is one of the nation’s preeminent private equity firms with over $15 billion of private equity capital raised since inception. LGP, founded in 1989, has invested in 62 companies with an aggregate value of over $50 billion. Located in Los Angeles, California, LGP invests in established companies that are leaders in their markets.
About GE Antares Capital
GE Antares is a unit of GE Capital, Americas. 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. For more information, visit the GE Antares website at geantares.com.
About GE Capital
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit gecapital.com or follow company news via Twitter (@GECapitalNews). GE (NYSE: GE) is Imagination at Work – a diversified technology, media and financial services company focused on solving some of the world’s toughest problems