CHICAGO--(BUSINESS WIRE)--GE Antares today announced it served as administrative agent for a $118 million senior secured credit facility to support the acquisition of Schneller, Inc. by Graham Partners. GE Capital Markets serves as sole lead arranger and bookrunner.
The senior secured credit facility consisted of a $15 million revolving credit facility and a $103 million term loan. Proceeds were used to fund the acquisition of Schneller and to provide for working capital needs.
Headquartered in Kent, Ohio, Schneller is a leading global designer and manufacturer of engineered decorative laminates, thermoplastic sheets and non-textile flooring serving the worldwide aviation, rail and architectural markets. With operations in Ohio, Florida, Singapore and France, Schneller offers the broadest line of proprietary interior laminates that meet both FAA and EASA regulations including strict flammability, durability and safety standards.
"Schneller enjoys a leading market position with their high growth proprietary product offering. Their unique product development capabilities coupled with their design expertise and service have contributed to the Company's success," said Brian Polomsky, Vice President at GE Antares. Added Ethan Miller, Managing Director, "We are very excited to work with Graham Partners and Schneller's management team going forward as they continue to build out this dynamic platform."
Farhan Merchant, Principal at Graham Partners said, "GE Antares has demonstrated that industry knowledge equates into flexible and creative financing. Their responsiveness was precisely what we needed for the acquisition of Schneller. We hope to continue to grow with both Schneller and GE Antares in the years ahead."
About Graham Partners
Graham Partners is a leading, lower middle market industrial private equity firm based in suburban Philadelphia with over $850 million under management. Graham Partners is sponsored by the privately held Graham Group of York, Pennsylvania, an industrial and investment concern with global interests in plastics, packaging, machinery, building products and outsource manufacturing. Graham Partners seeks to acquire industrial companies with revenues between $20 million and $350 million that participate in manufacturing niches where it can leverage its unique combination of operating resources and financial expertise. For more information, visit the Graham Partners website at www.grahampartners.net.
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. For more information, visit the GE Antares website at 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.
Contacts GE Commercial Finance, Norwalk
Ned Reynolds, 203-229-5717
[email protected]
Jeff Wilson
GE Capital Corporate Finance
[email protected]
1-203-749-6340