GE Antares today announced it acted as administrative agent for a $120 million first lien secured credit facility and a $50 million second lien secured credit facility to finance the recapitalization of York Tape and Label, Inc., a portfolio company of Wind Point Partners. GE Capital Markets served as lead arranger and bookrunner.The senior secured credit facility consisted of a $20 million first lien senior secured revolving credit facility, a $100 million first lien senior secured term loan facility, and a $50 million second lien senior secured facility. Proceeds of the credit facility were used to refinance existing senior and subordinated indebtedness of the Company and to provide for working capital needs.
Headquartered in Omaha, Nebraska, YORK is a leading designer and manufacturer of prime, pressure sensitive labels to a wide range of markets and Fortune 500 companies. It operates five state-of-the-art manufacturing facilities across the country. To complement the Company’s label production, it has a complete Integrated Systems Division that offers labeling, data collection, and printing systems for manufacturing, warehouse, and retail environments.
“Through its extensive production capabilities and reputation for unparalleled customer service, the Company has developed a diverse and blue chip client base,” said Dan Barry, Senior Managing Director of GE Antares. “We are delighted to work with Wind Point Partners and YORK’s strong management team.”
“Our in-depth knowledge of the company allowed GE to offer a flexible financing package,” said Doug Koch, Vice President of GE Antares. “We are pleased to have had the opportunity to provide the refinancing to YORK on behalf of WPP, and we enjoy our value-added partnership with their firm.”
Michael Nelson, a principal at Wind Point Partners said: “We appreciate GE Antares’ support and responsiveness on the York financing. It demonstrates their ongoing commitment to working with WPP and YORK’s management team. We look forward to continuing our efforts on behalf of both entities.”
About Wind Point Partners
Wind Point Partners® is a private equity investment firm with $2 billion in capital under management. Wind Point focuses on partnering with top caliber executives to acquire solid middle market businesses with a clear path to value creation. Additional information about Wind Point is available at www.windpointpartners.com
About GE Antares Capital
GE Antares Capital is a unit of GE Commercial Finance - Global Sponsor Finance. With over $8 billion in assets, and offices in Chicago, London, Los Angeles, New York, and San Francisco, GE Antares offers a “one-stop” source for GE’s lending and other services offered to middle market private equity sponsors. Visit www.geantares.com
About GE Commercial Finance
GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over $233 billion and is headquartered in Norwalk Connecticut. 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. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company’s website at www.ge.com
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