GE Antares, a GE Capital unit, has provided a $60 million credit facility to back Graham Partners‘ acquisition of Tidel Engineering. GE Capital Markets served as the loan’s joint lead arranger and bookrunner. Based in Carrollton, Texas, Tidel is a provider of provider of cash management systems and security products for retailers.
CHICAGO, March 5, 2015 — GE Antares, a unit of GE Capital, announced today it is serving as administrative agent on a $60 million senior secured credit facility to support the acquisition of Tidel Engineering, L.P. by an affiliate of Graham Partners. GE Capital Markets served as joint lead arranger and joint bookrunner on this facility.
Founded in 1978, Tidel is a leading provider of cash management systems and security products for convenience stores, specialty retailers, grocery stores and quick-service restaurants. Tidel provides solutions that deliver enhanced efficiency, cost savings and security throughout the retail cash management ecosystem.
“GE Antares comes to the table with flexible, workable financing structures plus a high certainty of execution,” said Rob Newbold, managing principal at Graham Partners. “We enjoy a great relationship with GE Antares and look forward to working together again in the future.”
“Graham’s operational heritage and industrial expertise combined with Tidel’s accomplished management team will pave the way for new growth in the U.S. and abroad,” said Brian Polomsky, managing director of GE Antares. “We are excited to support this acquisition and look forward to supporting management and Graham as they pioneer innovative solutions.”
Headquartered outside of Dallas, TX, Tidel is a leading provider of cash management solutions that empower retail institutions across the globe to better manage their daily cash operations, reduce risk, and increase profits. Since 1978, customers have relied on Tidel to provide the most innovative and reliable solutions that help secure, optimize, and streamline their cash environment. For more information, visit www.tidel.com.
About Graham Partners
Headquartered outside of Philadelphia, PA, Graham Partners is a private investment firm focused on investing in businesses with proprietary technologies, advanced manufacturing expertise, innovative product development capabilities, and strong growth potential. Since the firm’s founding in 1988, Graham Partners has closed over sixty acquisitions, joint ventures, financings, and divestures. For more information, visit www.grahampartners.net.
About GE Antares Capital
GE Antares is a unit of GE Capital. With offices in Atlanta, Chicago, Los Angeles, New York, and San Francisco, GE Antares is the 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 customers around the globe an array of financial products, services and insights to help them grow their businesses. For more information, visit www.gecapital.com or follow company news via Twitter (@GECapital).
GE (NYSE: GE) imagines things others don’t, builds things others can’t and delivers outcomes that make the world work better. GE brings together the physical and digital worlds in ways no other company can. In its labs and factories and on the ground with customers, GE is inventing the next industrial era to move, power, build and cure the world. www.ge.com