GE Antares Capital Provides $89.5 Million Credit Facility to EDAC Technologies Corporation
CHICAGO--(BUSINESS WIRE)-- GE Antares, a unit of GE Capital, announced today it is serving as administrative agent for a $89.5 million senior credit facility to support Greenbriar Equity Group's acquisition of EDAC Technologies Corporation. GE Capital Markets acted as joint lead arranger and sole bookrunner.
"We view GE Antares as an excellent choice to lead our debt financing for EDAC Technologies," said Rob Wolf, director at Greenbriar Equity. "GE Antares has a great understanding of the debt financing markets, ensuring superior execution, and through their Access GE program they can help us tap into GE's deep knowledge and experience in the aerospace market."
EDAC is a United States-based company with headquarters in Cheshire, Connecticut. It has six diversified divisions in southern New England.
"We're excited to be leading another financing for Greenbriar Equity and starting a relationship with EDAC Technologies," said Douglas Cannaliato, managing director at GE Antares. "Greenbriar Equity has extensive aviation industry expertise resulting from their exclusive focus on the global transportation industry which we are confident will provide real value to EDAC Technologies' already strong and experienced management team."
EDAC Technologies is a diversified manufacturer of precision machined components, and supplier of tooling, spindle manufacturing and machine repair services, primarily for gas turbine engine applications in the commercial aerospace, military and industrial markets.
About Greenbriar Equity
Greenbriar Equity Group LLC, a private equity firm with $1.5 billion of committed capital, focuses exclusively on the global transportation industry, including companies in aerospace and defense, automotive, freight and passenger transport, logistics and distribution, and related sectors. Greenbriar invests with proven management teams who are interested in being significant equity owners in their companies as well as with corporate partners who are interested in raising capital. Greenbriar's partners bring many decades of experience at the highest levels within the transportation industry. Additional information may be found at www.greenbriarequity.com.
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 www.gecapital.com or follow company news via Twitter (@GECapital).
GE (NYS: 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 Capital, Americas
Jen Sampson, 312-441-7055
KEYWORDS: United States North America Illinois
The article GE Antares Capital Provides $89.5 Million Credit Facility to EDAC Technologies Corporation originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.