STAMFORD, Conn. & ANKARA, Turkey & TYNAGH, County Galway, Ireland--(BUSINESS WIRE)--May 18, 2006--GE Energy Financial Services announced today that it has agreed to acquire a 40 percent interest in Ireland's newest and most efficient natural gas-fired power plant, subject to customary closing conditions.
NORWALK, Conn.--(BUSINESS WIRE)--May 18, 2006--GE Antares Capital today announced that it is the lead arranger of a $143 million senior debt facility for the recapitalization of Augusta Sportswear Group in connection with the acquisition of Holloway Sportswear. Augusta Sportswear Group is an existing portfolio company of Linsalata Capital Partners.
Augusta and Holloway are leading manufacturers and distributors of athletic apparel, outerwear and sportswear in the sporting goods, team dealer, decorator and college bookstore markets.
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AVON, Conn.--(BUSINESS WIRE)--May 18, 2006--GE Insurance Solutions is sharing practical expertise that will help risk managers make important decisions about their fire protection and building construction. The Global Asset Protection team released two papers that offer risk managers and building owners key lessons to ensure their fire prevention, detection, and suppression systems are best in class.
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SCOTTSDALE, Ariz.--(BUSINESS WIRE)--May 17, 2006--Showing versatility in its ability to provide multiple arrangements, GE Capital Solutions, Franchise Finance acted as the sole lead arranger of $17.1 million with Diamondback Management, Inc., one of the largest franchisees of Tumbleweed Southwest Grill. The deal includes both a sale-leaseback for seven properties and a business value loan.
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CHICAGO--(BUSINESS WIRE)--May 16, 2006--GE Healthcare Financial Services has provided a $175 million senior secured facility for Sunwest Management, Inc., a Salem, Ore., based senior housing owner/operator that manages more than 180 properties nationwide.
Through the transaction, GE arranged a seven-year term loan for Sunwest to refinance 26 assisted living properties. The deal structure enabled Sunwest to reduce its cost of capital and greatly improve the cash flow of the portfolio operated by the borrower.
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SCOTTSDALE, Ariz.--(BUSINESS WIRE)--May 16, 2006--Wisconsin Hospitality Group seizes an opportunity to take advantage of favorable cap rates with leading lender GE Capital Solutions, Franchise Finance funding a $30.5 million sale-leaseback of 13 of their franchised Applebee's restaurants.
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NORWALK, Conn.--(BUSINESS WIRE)--May 15, 2006--GE Commercial Finance today announced that it has expanded its Restructuring Finance team with the hire of Brent Hazzard as Managing Director.
In his new role, Hazzard will originate DIP, POR and out-of-court financing opportunities with turnaround and restructuring advisors located throughout the Northeast. Hazzard joins from GE - Bank Loans, where he served as a Senior Vice President on the distressed debt team.
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SCOTTSDALE, Ariz.--(BUSINESS WIRE)--May 11, 2006--A $50 million sale-leaseback for 34 Burger King locations is the largest of the year for GE Capital Solutions, Franchise Finance. The funding allows Simmonds Restaurant Management, a Nebraska-based company, to simplify their loan structure and re-capitalize the business to prepare for future growth.
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SCOTTSDALE, Ariz.--(BUSINESS WIRE)--May 9, 2006--Capitalizing on a long-standing relationship, GE Capital Solutions, Franchise Finance funded a two-tiered deal worth $10.6 million for Restaurant Concepts, Inc. The deal leverages the equity of 11 existing Arby's units and allows Restaurant Concepts to expand its business to include Famous Dave's locations in Arizona and Nevada.