CHICAGO--(BUSINESS WIRE)--GE Antares Capital today announced it served as administrative agent for an $80 million senior secured credit facility to support Kohlberg & Company's ("Kohlberg") acquisition of Trico Products. GE Capital Markets served as sole lead arranger.
he senior secured credit facility consisted of an $80 million ABL revolving credit facility. Proceeds of the financing were used to fund Kohlberg's acquisition of Trico, and to provide for future working capital needs.
Headquartered in Rochester Hills, MI, Trico Products is a global leader in the design, manufacture and distribution of integrated wiper systems for OEM and Aftermarket applications. The Company sells to more than 20 OEM customers across some 50 vehicle platforms around the world and is the leading Aftermarket and OEM supplier in North America. Trico's strategic footprint is global with design centers and factories in the U.S., Mexico, Europe, Latin America and Asia.
"Trico has an ongoing commitment to innovation that is embodied in its strong brand name and unique product capabilities," said Chet Zara, Senior Managing Director of GE Antares. "Additionally, its global manufacturing presence and experienced management team have further led to its success. We are delighted to again work with Kohlberg and its operating partners on an automotive platform, as they have an excellent history of investments in this sector."
Evan Wildstein, Partner of Kohlberg & Company, said, "We appreciate GE Antares' responsiveness and successful execution on this financing, as well as their ongoing commitment to Kohlberg. The GE Antares team is supportive of our vision for future growth and development at Trico."
About Kohlberg & Company, L.L.C.
Kohlberg & Company is a leading U.S. private equity firm with offices in Mt. Kisco, NY and Palo Alto, CA. Since its inception in 1987, the Firm has completed 45 platform investments and more than 50 add-on acquisitions, with an aggregate transaction value in excess of $7 billion. Kohlberg has invested over $2 billion across 5 private equity funds to date and will have $1.5 billion of committed capital available in its sixth fund, Kohlberg Investors VI.
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