GE Antares Capital Wraps 2013 as Top MidMarket Lender to Private
*Agent on 170 senior secured loans to corporate borrowers across 90 private
*Expanded value-added programs through customer technology partnerships
with GE R&D
CHICAGO -- February 19, 2014
GE Antares, a unit of GE Capital, announced today it closed more than 170
senior loan transactions with corporate borrowers across 90 private equity
firms, totaling over $13 billion in financing in 2013 and retaining its
position as the most active lender to PE-backed middle market companies.
“2013 was really about stretching ourselves for our customers,” said John
Martin, president and CEO of GE Antares Capital. “Through consistent, reliable
financing commitments backed by value-creating opportunities with GE’s
industrial businesses and its Global Research Center, we delivered beyond just
During 2013, GE Antares also closed $5.1 billion in commitments through the
Senior Secured Loan Program (SSLP), jointly managed by an affiliate of Ares
Capital Corporation and an affiliate of GE Capital. Since January 2010, the
SSLP has committed approximately $14.2 billion to middle market borrowers.
“Though 2013 had its share of uncertainties around the government shutdown and
fiscal situation, investor demand for loans to middle market companies
continued to grow,” continued Martin. “Customers look to us to support their
businesses regardless of the uncertainties, and we look forward to more of
this in 2014.”
In 2013, GE Antares delivered value beyond lending to customers. In
partnership with the GE Global Research Center (“GRC”), one of the world’s
first industrial labs, GE Antares created connections between customers and
the GRC resulting in 8 potential joint R&D projects, new suppliers and
licensing partners. Also, through the unique Access GE program, customers
tapped into GE’s insights, tools and best practices to address critical
“In 2013, we increased our already substantial Access GE offerings from the
prior year and held over 400 one-on-one Access GE customer engagements,
touching over 320 unique borrowers,” Martin stated.
Examples of 2013 loan transactions:
PODS Holdings Inc.
GE Antares served as administrative agent on a $430.0MM senior credit facility
to support Arcapita Inc.’s refinance of PODS Holdings Incorporated. Founded in
1998, PODS Funding Corp. II is a provider of containerized moving and storage
services. Based in Melville, NY, PODS serves more than 22,000 cities in 47
states/provinces, across the US, Canada and Australia.
Waddington North America
GE Antares co-led a $650MM senior facility for Waddington North America
(“WNA”), a leading designer, manufacturer and supplier of plastic disposable
tableware, serve ware and cutlery products, which facilitated their
acquisition of Par-Pak. Part of GE’s loan portfolio since 2012 when Olympus
Partners acquired WNA in 2012.
“We wanted GE Antares to retain the roles of administrative agent and joint
lead arranger due to their experienced people, knowledge of credit and ability
to underwrite and close quickly,” said Robert Morris, managing partner of
WASH Multifamily Laundry Systems, LLC
GE Antares served as administrative agent on a new $480MM facility to WASH
Multifamily Laundry Systems, LLC to support the acquisition of Coinamatic, the
largest provider of outsourced laundry services in Canada. WASH is a leading
provider of outsourced laundry equipment services for multi-family housing
properties, apartment buildings, condominiums, and university residence halls.
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. 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 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
GE Antares Capital
Jennifer Sampson, 312-441-7055
GE Capital, Americas
Ned Reynolds, 203-229-5717
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