NORWALK, Conn.--13 April 2009-- GE Antares, a unit of GE Capital, today announced that it has agented a $115 million senior credit facility to facilitate Wind Point Partner's acquisition of Hearthside Food Solutions. The financing consists of a $20 million five-year revolving credit facility, and a $95 million five-year term loan A.
GE Antares served as Administrative Agent and GE Capital Markets was Joint Lead Arranger and Joint Bookrunner for the transaction.
Hearthside is a Grand Rapids, Michigan-based leader in providing contract packaging and contract manufacturing of specialty food products such as granola bars, croutons, cereals, popcorn, and snack mixes that supplies North America's leading consumer product companies.
"GE Antares is an excellent partner for us," said Mark Burgett, Managing Director of Wind Point Partners. "They provide quick feedback and deliver consistently, which is critical in today's volatile market."
"We are pleased to support Wind Point Partners in their acquisition of Hearthside", said Mike Hynes, a Senior Vice President at GE Antares. "This is a great example of delivering capital in a reliable and flexible manner."
About GE Antares
GE Antares is a unit of GE Capital's Sponsor Finance business. With $13 billion in assets, and offices in Atlanta, Chicago, London, Los Angeles, New York, and San Francisco, GE Antares is a leading middle market PE lender, offering a "one-stop" source for GE's lending and other services offered to middle market private equity sponsors. For more information, visit www.geantares.com. GE Capital offers consumers and businesses around the globe an array of financial products and services. 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. For more information, visit the company's Web site at www.ge.com.
About Wind Point Partners
Wind Point Partners® is a private equity investment firm with $2.5 billion of capital under management. Wind Point focuses on partnering with top caliber CEOs to acquire middle market businesses with a clear path to value creation. Additional information about Wind Point is available at www.windpointpartners.com.
About Hearthside Food Solutions
Hearthside, based in Grand Rapids, Michigan, is a leading contract manufacturer and packager that serves North America's largest consumer products companies. Hearthside employs approximately 1,200 people in three manufacturing facilities with nearly 500,000 square feet of manufacturing space.
Ned Reynolds
GE Capital
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