CHICAGO--(BUSINESS WIRE)--GE Antares Capital today announced it served as administrative agent for a $43.5 million senior secured credit facility to support the acquisition of Icon Identity Solutions, Inc. by CIVC Partners, GrowthPath Capital, and the management of Icon. GE Capital Markets serves as sole lead arranger and sole bookrunner.
The financing consisted of a $17.5 million senior revolving credit facility and a $26 million senior term loan facility. Proceeds were used to fund the acquisition of Icon, and to provide for general working capital needs.
Founded in 1931, and headquartered in Elk Grove Village, IL, Icon Identity Solutions implements facility signage programs and is a single source solution delivering maximum brand visibility, quality manufacturing, total program management, and nationwide installation and maintenance.
Eric Hansen, Managing Director of GE Antares, said: "We are pleased with the completion of this transaction. The financing structure will allow Icon to enhance its growth strategies as a 'one-stop shop' for corporate identity services. We have been a financial partner on other transactions with CIVC and look forward to working again with the firm."
Christopher Perry, Partner at CIVC Partners said: "We appreciate GE Antares' responsiveness and successful execution on this financing, as well as their ongoing commitment to CIVC. The GE Antares team is very supportive of Icon and the vision of the outstanding management team."
"We are very excited to back Icon, which fits well within our strategy of investing in best of breed companies and supporting them as they continue their track record of outperformance," said David Dolan, Managing Partner at GrowthPath Capital.
About CIVC Partners
CIVC Partners, a Chicago, IL based firm, manages over $1 billion of private equity capital. With over 37 years of experience in private equity investing, the Company provides growth and buyout capital to middle-market companies engaged in business services, financial services, and media and communications. For more information, visit the firm's web site at www.civc.com.
About GrowthPath Capital
GrowthPath Capital is a private equity investment firm established to apply the concepts and practices of strategic management as developed by The Boston Consulting Group to middle-market leveraged acquisitions. The firm is best characterized as a value-added, buy-and-build equity sponsor with particular expertise in industrial growth situations and which is lead by an experienced team that has worked together since 1990. For more information, please visit www.growthpathcapital.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. 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 $250 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