GE inks separate deals to sell tank car fleet assets, railcar leasing

By Luisa Beltran — 2 months ago

GE has agreed to sell its tank car fleet assets and railcar repair facilities to Marmon Holdings Inc. In a separate deal, GE is selling its remaining railcar leasing business, General Electric Railcar Services LLC, to Wells Fargo & Co. Financial terms weren’t announced. GE Railcar Services leases railcars as well as locomotives to shippers and railroads across North America. Deutsche Bank Securities Inc. provided financial advice to GE.


GE to sell private equity lending unit to CPPIB in $12 bln deal

By Luisa Beltran — 6 months ago

GE said Tuesday that it has agreed to sell its U.S. Sponsor Finance business plus a $3 billion loan portfolio to Canada Pension Plan Investment Board (CPPIB). The transaction is valued at $12 billion. The deal includes Antares Capital, GE Capital’s lending business to private equity-backed middle market companies. Antares will operate as a stand-alone business led by managing partners David Brackett and John Martin. J.P. Morgan Securities LLC and Citigroup Global Markets Inc. provided financial advice.


VC-backed GMZ Energy names business development VP

By Iris Dorbian — 1 year ago

GMZ Energy has hired Scott Rackey as vice president of business development. Previously, Rackey was CEO of four energy startups. Based in Waltham, Mass. GMZ is a developer of high temperature thermoelectric generation solutions. Its backers include Kleiner Perkins Caufield & Byers, BP Alternative Energy, I2BF, Mitsui Global Investment and Energy Technology Ventures (a joint venture between General Electric, NRG Energy and ConocoPhillips).