GE Antares, a unit of GE Capital, said Monday it is providing a $124.5 million loan to support The Riverside Company’s buy of Area Wide Protective. Kent, Ohio-based AWP provides temporary traffic management solutions to a variety of customers, including utilities, utility contractors and telecommunications companies.Continue
The Riverside Company said Wednesday it invested in Area Wide Protective. Financial terms weren’t announced. Kent, Ohio-Area Wide provides temporary management solutions to customers including utilities, utility contractors, and telecommunications companies. GE Antares Capital, Madison Capital, NewStar Financial, and MidCap Financial provided senior debt financing and Audax Mezzanine provided mezzanine debt.Continue
Golub Capital has hired Chip Cushman as a managing director in its middle market lending group. Previously, Cushman worked at GE Antares where he served as a managing director.Continue
Over 2,000 executives descended on the Waldorf Astoria and Hilton Bonnet Creek in Orlando, Florida [...]Continue
More than two years after buying Tank Holdings Corp., Leonard Green & Partners is getting [...]Continue
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.Continue
GE Antares, a unit of GE Capital, has provided a $160 million senior credit facility to back Kohlberg & Company‘s buy of PPC Industries. GE Capital Markets was the lead arranger and bookrunner. Based in Pleasant Prairie, Wisconsin, PPC Industries is a maker of specialty plastic solutions for medical/pharmaceutical, food processing, and niche industrial applications.Continue
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.Continue
Merex Group, a portfolio company of Dubin Clark, has received a credit facility from GE Antares to support its buy of Kellstrom Defense Aerospace. No financial terms were disclosed. GE Capital Markets was the lead arranger and joint bookrunner on the loan. Based in Miramar, Florida, Kellstrom Defense is a provider of inventory management solutions and aftermarket services, specializing in the defense aircraft aftermarket support.Continue
Vestar Capital Partners has received a $260 million loan from GE Antares, a unit of GE Capital Markets, to support its acquisition of Institutional Shareholder Services. GE Capital Markets acted as joint lead arranger and bookrunner on this transaction. ISS is a provider of proxy advisory and corporate governance solutions to financial market participants.Continue
GE Antares, a unit of GE Capital, is serving as administrative agent for a $140 million senior credit facility to support the acquisition of Hilex Poly by Wind Point Partners. GE Capital Markets served as co-lead arranger and sole bookrunner on the transaction.Continue
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. PRESS RELEASE: GE Antares, a unit of GE Capital, announced today it […]Continue
GE Antares, a unit of GE Capital, said Monday it is providing a $400 million credit facility that is part of Wind Point Partners recap of Hearthside Food Solutions. Proceeds of the $400 million loan will be used to refinance debt and pay a dividend, according to Thomson Reuters Loan Pricing Corp. Wing Point acquired […]Continue
GE Antares, a unit of GE Capital, said it served as administration agent on a $555 million loan for TricorBraun. The loan will serve to to refinance TricorBraun’s outstanding debt and make a distribution to shareholders of affiliates via dividends and stock repurchases, the statement said. GE Capital Markets served as joint lead arranger and […]Continue
Tomorrow is January 8, and for many GE Capital employees, that means D-Day. peHUB reported [...]Continue
Yesterday peHUB reported that GE Antares would delay its rumored layoffs until the New Year. Today, we found out why. Thanks to a tip from my Buyouts colleague Ari Nathanson, it appears the mid-market lender and its parent company, GE Capital, plans to lay off members of its staff in one fell swoop in early January (we hear Jan. 8, to be exact).
The initial layoff plan for GE Antares was to occur in two waves, with one taking place last Tuesday and one in January, multiple sources said. However, parent company GE is in the midst of changing its corporate severance policy to provide smaller packages for 2009 layoffs. The conglomerate’s legal team told GE Capital to make all the cuts at once, to avoid discrepancies between the severance packages in the two waves of layoffs.
Because GE Antares hasn’t finalized its layoff list, the firm will have to lay off both groups in January, likely with the new, lower severance package, one source said.Continue
Layoff rumors have plagued GE Antares ever since last month, when its parent company, GE Capital, announced plans for $2 billion in cost savings.
But employees of the mid-market lender can rest assured their jobs are safe for the remainder of the year, GE Antares spokesman Ned Reynolds told peHUB.
Reynolds said no layoffs have taken place this month and no layoffs will occur in December. This conflicts with a recent report from The Deal, which stated the 120-person business would cut 20% of its work force the week of December 8.
I’d also heard those rumors but Reynolds assured me that GE Antares has not and will not lay off any employees this month. “I’m not sure what was true a week ago but it’s not true today,” he said.Continue
In fact, the firm expects to close 10 to 15 deals in the fourth quarter. Christopher Williams, a founding partner at Madison Capital Funding, called to clarify that after I wrote some apparently ambiguous comments on middle market lending pullbacks.
So let it be known: Madison Capital has cash to spend. The firm has not narrowed down its deal criteria over the last few weeks, as I had written. The only change, Williams said, is that Madison Capital is pushing for the absolute latest financial performance numbers on companies. “The last thing we want to do is book a company that we haven’tContinue