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Chicago, IL, United States, 2012/05/16 - GE Antares, a unit of GE Capital, today announced it served as administration agent on a $555 million senior secured credit facility to TricorBraun, Inc. - GEantares.com GEcapital.com. NYSE: GE
The financing consisted of a $75 million senior revolving credit facility and a $480 million term loan facility, and served to refinance outstanding debt and make a distribution to shareholders of affiliates via dividends and stock repurchases. TricorBraun will also use the funding to support its ongoing organic and acquisition-driven strategic growth. GE Capital Markets served as joint lead arranger and co-bookrunner on the transaction.
Headquartered in St. Louis, Mo., TricorBraun, Inc. is a leading full-service provider of outsourced rigid packaging solutions in North America. CHS Capital™ acquired a controlling interest in TricorBraun in 2006.
“Our previous work with GE Antares enabled them to anticipate our needs and structure a deal which supports our short and long-term goals,” said David Hawkins, Partner at CHS Capital. “We appreciate the team’s responsiveness and look forward to working together to support the continued growth of the business.”
“We look forward to continuing to partner with GE Antares and CHS Capital and value their support of our business and growth plans,” said Keith Stope, President and CEO at TricorBraun Inc. “We have a long-standing relationship with GE Antares, dating back to 1997, and are pleased to continue it.”
“Having been a lender to TricorBraun for nearly 15 years, we are very excited to continue our relationship and support as they work with CHS Capital to continue to build out this dynamic platform,” said Dan Barry, senior managing director at GE Antares Capital.
“TricorBraun’s unique product design capabilities coupled with their sourcing and distribution expertise have contributed to the Company's success and leading market position,” said Brian Polomsky, senior vice president at GE Antares Capital.
Founded in 1902, TricorBraun provides a broad assortment of more than 32,000 rigid packaging containers and related components including plastic and glass bottles, sprayers, dispensers, closures, pails, tubes, drums and other associated items. In addition, the Company provides comprehensive package design, engineering and development services, as well as global sourcing and logistics management. TricorBraun’s customers are highly diversified and participate in a wide range of attractive end-markets, including personal care, healthcare, food and beverage, wine, household and industrial chemicals and animal health. The Company serves its customers’ needs with the sourcing flexibility of over 800 suppliers that value its efficient access to small and mid-size customers. As such, TricorBraun’s capabilities as a “one-stop” rigid packaging solutions provider have made the Company a trusted partner of both its customers and suppliers.
About CHS Capital
CHS Capital (chsonline.com) is a Chicago-based private equity firm with 24 years of experience investing in the middle market. Through partnerships with strong management teams, CHS Capital accelerates earnings growth and drives value creation through human capital enhancements, performance improvement actions and strategic growth initiatives. CHS Capital has made investments in over 360 businesses and invested $2.9 billion of capital.
About GE Antares Capital
GE Antares (geantares.com) 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.
About GE Capital
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit gecapital.com or follow company news via Twitter (@GECapitalNews). GE (NYSE: GE) is Imagination at Work - a diversified technology, media and financial services company focused on solving some of the world's toughest problems.