NewswireToday - /newswire/ -
Chicago, IL, United States, 2012/12/03 - GE Antares, a unit of GE Capital, announced today it is serving as administrative agent for a $140 million senior credit facility to support the acquisition of Hilex Poly Co. LLC by Wind Point Partners (NYSE: GE) - WindPointPartners.com / GEAntares.com. NYSE: GE
GE Capital Markets served as co-lead arranger and sole bookrunner on the transaction.
“GE Antares is committed to our business,” said Michael Nelson, managing director at Wind Point Partners. “They understand the way we work, have a proven track record of execution and deliver consistently in today’s unpredictable market. We appreciate their partnership in financing this transaction and their ability to commit in a tough economic environment.”
Hilex is a United States based company with headquarters in Hartsville, South Carolina. It has nine strategically located manufacturing facilities and the largest closed loop plastic bag recycling plant located in the United States.
“We are pleased to provide financial support to Hilex Poly Co.,” said Dan Barry, senior managing director of GE Antares Capital. “Our relationship with both Hilex Poly Co. and Wind Point Partners demonstrates our support to help build and grow their businesses and our ability to provide leading middle market companies the financial support they need to create enterprise value.”
Hilex is a leader in manufacturing recycled plastic bags into retail “t-shirt” bags and is a producer of a variety of film products. Hilex creates its products through its closed loop recycling process and is involved in a number of green initiatives to increase the use of recycled content in all of its products.
About Wind Point Partners
Wind Point Partners (windpointpartners.com) is a private equity investment firm that partners with top caliber executives to acquire middle market businesses where it can establish a path to value creation. Since its founding in 1984, Wind Point has raised seven funds with more than $2.8 billion in commitments and acquired more than 90 platform companies and 160 add-on acquisitions.
About GE Antares Capital
GE Antares (geantares.com) 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.
About GE Capital
GE Capital (gecapital.com) offers consumers and businesses around the globe an array of financial products and services. GE (ge.com) 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.