GE Antares Capital Provides $140 Million Credit Facility to Hilex Poly Co.
CHICAGO, Dec 03, 2012 (BUSINESS WIRE) --
Copyright Business Wire 2012
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. GE
Capital Markets served as co-lead arranger and sole bookrunner on the
"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 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. For more information, visit www.windpointpartners.com.
About GE Antares Capital
GE Antares 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. For more information, visit the GE
Antares website at geantares.com.
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) 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. For more information, visit ge.com.
SOURCE: GE Capital