NewswireToday - /newswire/ -
Norwalk, CT, United States, 2011/10/19 - GE Capital, Corporate Finance today announced it is the administrative agent for a $150 million asset-based credit facility to United Copper Industries, Inc. (UCI), a leading manufacturer of building wire and cable (NYSE: GE) - GECapital.com. NYSE: GE
The loan was used to support the company’s acquisition by KPS Capital Partners, LP and for UCI’s ongoing working capital needs. GE Capital Markets served as sole lead arranger and bookrunner.
Headquartered in Denton, TX, UCI is a leading manufacturer and distributor of building wire and cable used in the construction of industrial, residential and commercial buildings in the U.S. and Canada. The company sells its products through national, regional and local electrical distributors. New York-based KPS Capital Partners, LP is the manager of the KPS Special Situations Funds, a family of private equity funds.
“GE Capital once again delivered the financing we needed at this exciting juncture in our company’s history,” said Charles Banham, chief financial officer of UCI. ”We appreciate their flexibility in structuring the financing and their commitment to completing the transaction in an uncertain economy.”
“We have worked closely with UCI and KPS Capital Partners for many years,” said Tom Quindlen, president and CEO of GE Capital, Corporate Finance. “We specialize in making significant financial commitments to help build middle-market companies and support their business objectives.”
About GE Capital, Corporate Finance
GE Capital, Corporate Finance (gelending.com/clnews) provides asset-based, cash flow and structured loans and leases to mid-size and large U.S. businesses. Financing supports working capital, growth, acquisitions, turnarounds and balance sheet optimization in key sectors: aerospace and defense; automotive and transportation; chemicals and plastics; construction and building products, corporate aircraft; financial and business services; food, beverage and agribusiness; manufacturing; marine; metals and mining; paper, packaging and forest products; retail; and technology and electronics. Funding may be provided through GE Capital, Corporate Finance’s affiliate, GE Capital Financial Inc., member FDIC. With Access GE, clients also benefit from access to GE’s best practices.
GE Capital (gecapital.com) offers consumers and businesses around the globe an array of financial products and services. Follow company news via Twitter (@GECapital). GE (ge.com) is an advanced technology, services and finance company taking on the world’s toughest challenges.
Jeff Wilson - GE Capital, Corporate Finance
P: +1 203 749 6340 / E: Jeffrey.Wilson[.]ge.com.