NORWALK, Conn.--(BUSINESS WIRE)--Jan. 11, 2005--GE Commercial Finance Global Sponsor Finance announced that it has arranged a $41 million senior secured credit facility for JJI Lighting Group, Inc. The transaction closed on December 29, 2004.
GE Commercial Finance will serve as Administrative Agent for a syndicate of lenders arranged by GECC Capital Markets Group, Inc.
Based in Greenwich, Conn., JJI Lighting Group is a leading manufacturer and marketer of premium quality industrial, commercial and institutional lighting fixtures for indoor and outdoor applications. The company's majority owner is Mezzanine Management LLC, based in Stamford, Conn., a leading mezzanine and private equity investment firm.
"Our goal was to secure a more flexible capital facility that will help position us to take advantage of the positive growth trends now developing across the commercial markets that are primary users of our lighting products," said James Haworth, JJI president. "GE's Global Sponsor Finance team responded with a funding structure that both addresses our current financing needs as well as provides for additional liquidity to support our planned growth."
"Global Sponsor Finance was attentive throughout the transaction to our needs as a sponsor firm and ably delivered a funding facility that addressed both our needs as the primary owner of JJI as well as those of the company and its future liquidity requirements. We were quite pleased with the efforts of the GE team and look forward to working with them again," said Robert Davies, Managing Director, Mezzanine Management LLC.
"Our group's intent is to deliver to private equity firms and their portfolio companies a full range of financing options, with flexibility and timeliness, and rigorous focus on the special needs of the firm as well as the transaction situation," said Marc Pressler, Senior Vice President, GE Commercial Finance Global Sponsor Finance. "We are pleased to have had the opportunity to provide financing to JJI Lighting on behalf of Mezzanine Management LLC, and look forward to continuing our efforts on behalf of both entities."
About GE Commercial Finance Global Sponsor Finance
GE Commercial Finance Global Sponsor Finance is a leading global financing source to private equity firms for leveraged transactions including buyouts, acquisitions, growth funding, and recapitalizations. Products and services include cash flow and asset-based financing, first and second lien senior loans, global cross-border funding, lease financing, structured equity, project financing, healthcare and media finance. GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over $230 billion and is headquartered in Stamford, Connecticut. General Electric (NYSE: GE) is a diversified technology, media and financial services company dedicated to creating products that make life better. For more information, visit the company's website at www.ge.com.
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