CHICAGO--(BUSINESS WIRE)--GE Antares today announced it and its sister company, GE Capital Solutions Transportation Finance, are serving as administrative agents for a senior secured credit facility to support the acquisition of Gemini Traffic Sales Inc. ("Gemini" or the "Company") by Fenway Partners.
Headquartered in Edison, New Jersey, Gemini Traffic Sales Inc. is a trucking company that operates from four terminal facilities strategically located across the United States. Gemini's fleet of over 250 tractors and 400 trailers consists of both refrigerated and dry van equipment. The Company provides every type of freight service, including refrigerated and LTL consolidation and distribution, full truckload services, logistics, brokerage, and warehousing. Gemini handles a variety of commodities focusing on time and temperature sensitive products.
"The acquisition of Gemini provides synergies to Fenway's core investment focus in transportation/logistics companies. Gemini has industry leading brand recognition and is led by a strong management team. Fenway is an important customer to GE Antares and we are delighted to support their acquisition of Gemini," said Dan Glickman, Managing Director of GE Antares.
Aron Schwartz, Partner of Fenway Partners, said, "We appreciate GE Antares' responsiveness and execution on the Gemini financing, and their ongoing commitment to working with Fenway Partners. The GE Antares team is supportive of our vision for future growth and development at Gemini. GE Antares has helped to finance several of our portfolio companies and we look forward to working with GE Antares on future transactions."
About Fenway Partners
Fenway Partners, Inc. is a middle market private equity firm with offices in New York and Los Angeles and $1.6 billion under management. Fenway invests in profitable businesses with significant upside potential. Fenway companies typically have leading franchises and operate in two core industry segments, branded consumer products and transportation/logistics. With significant knowledge and success investing in these industries, Fenway has built a strong reputation for its hands-on approach to supporting its portfolio companies which include sporting goods manufacturer Easton Bell Sports, school yearbook and class ring manufacturer American Achievement, transportation and logistics provider Greatwide Logistics, expedited ground transportation provider Panther Expedited Services and intermodal trucking service provider RoadLink USA.
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 customer 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.
Contacts
GE Commercial Finance, Norwalk
Ned Reynolds, 203-229-5717
[email protected]
Stephen White