GE Antares Capital today announced it acted as administrative agent for a $51 million senior secured credit facility in the recapitalization of Marshfield DoorSystems, Inc., a portfolio company of Wind Point Partners.
CHICAGO--(BUSINESS WIRE)--GE Antares Capital today announced it acted as administrative agent for a $51 million senior secured credit facility in the recapitalization of Marshfield DoorSystems, Inc., a portfolio company of Wind Point Partners.
The facility consisted of a $10 million revolving credit facility, a $36 million term loan facility and a $5 million Capital Expenditure Line. Proceeds were used to refinance existing senior indebtedness and to provide for the Company's ongoing working capital needs.
Founded in 1890 and headquartered in Marshfield, WI, Marshfield DoorSystems is the leading manufacturer of commercial architectural wood door and door core in North America. Marshfield manufactures doors on a "make-to-order" basis with over 3 million possible product combinations available to customers. Its one-of-a-kind fulfillment system, DoorBuilder™, results in decreased lead times to customers, higher order accuracy rates, increased manufacturing efficiency, decreased administrative costs and higher overall customer satisfaction.
"Marshfield's broad product offering and high quality reputation makes the Company's brand the most frequently specified commercial door manufacturer among architects," said Mark Birkett, Assistant Vice President. "We are pleased to have had the opportunity in the recapitalization of Marshfield on behalf of Wind Point Partners."
Nathan Brown, a managing director at Wind Point Partners, said, "We appreciate GE Antares' support and responsiveness in the Marshfield recapitalization. It demonstrates their ongoing commitment to working with Wind Point and Marshfield's management team."
About Wind Point Partners
Wind Point Partners® is a private equity investment firm with $2 billion in capital under management. Wind Point focuses on partnering with top caliber executives to acquire solid middle market businesses with a clear path to value creation. Additional information about Wind Point is available at www.windpointpartners.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. To learn more about GE Antares, please 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 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.
Stephen White