NewswireToday - /newswire/ -
Chicago, IL, United States, 2010/08/11 - GE Antares, a unit of GE Capital, today announced it served as administrative agent for a $158.5 million senior secured credit facility to support OMERS Private Equity’s acquisition of United States Infrastructure Corporation (“USIC”). NYSE: GE
GE Capital Markets served as joint lead arranger and bookrunner on the transaction.
Headquartered in Carmel, IN, USIC is the nation’s largest provider of outsourced underground infrastructure locating and marking services to the domestic utility marketplace. USIC performs locating services across a 20-state geographic footprint on behalf of over 400 telecom, electric, gas, cable and water utilities, including all major national and regional utilities throughout the Midwest, Southeast, Southwest and Northwest. Locating is a legally mandated process in the United States and must be completed within 48 to 72 hours upon notice of all underground construction or maintenance activity to prevent costly and potentially harmful damages to utility infrastructure.
About OMERS Private Equity
OMERS Private Equity manages the private equity activities of OMERS Administration Corporation and today has $4 billion of investments under management. The group's investment strategy includes the active ownership of businesses in North America and Europe. OMERS is one of Canada's largest pension funds and was recently voted one of Canada's top 50 employers by Hewitt Associates. OMERS administers the pension plan and provides retirement benefits to more than 390,000 members operating across the municipal government sector in the province of Ontario. The OMERS Worldwide brand represents the various OMERS investment entities, including OMERS Strategic Investments, OMERS Private Equity, OMERS Capital Markets, Borealis Infrastructure, and Oxford Properties Group.
About GE Antares Capital
GE Antares (geantares.com) is a unit of GE Capital. With offices in Atlanta, Chicago, Los Angeles, New York, and San Francisco, GE Antares is the leading lender to private equity-backed middle market companies.
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 (@GECapital). 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. Visit ge.com/.