CHICAGO--(BUSINESS WIRE)--GE Antares Capital today announced it served as administrative agent for a $61 million senior secured credit facility to support Nautic Partners' acquisition of Prince Sports in partnership with Prince's management. GE Capital Markets served as sole lead arranger and sole bookrunner. This transaction is fully syndicated.
The financing consisted of a $20 million revolving credit facility and a $41 million term loan facility. Proceeds were used to fund Nautic's acquisition of Prince and to provide for future working capital needs.