Gen Electric (NYSE:GE)
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GE Antares, a unit of GE Capital, announced today it served as
administrative agent on a $85 million senior credit facility for Kele,
Inc., a portfolio investment of CHS Capital. The financing supported a
dividend recapitalization. GE Capital Markets served as sole lead
arranger and bookrunner on the transaction.
“GE Capital committed to and placed the facility with its strategic
investor relationships, limiting the need for syndication and allowing
us to move quickly to closing,” said David Hawkins, partner at CHS
CapitalTM. “In addition, our relationship with GE Antares and
their deep understanding of our business helped us close this
transaction efficiently and successfully.”
Headquartered in Memphis, Tenn., Kele, Inc. is a leading supplier of
peripheral control products and services to the building automation
industry.
Tim Vargo, president and CEO of Kele, said, “The growth of Kele requires
a lender who understands our business and our goals. GE Capital has this
understanding and we look forward to working with them as we continue to
grow and expand our market reach.”
“We are pleased to provide this financing to support the growth of Kele
with CHS Capital,” said Brian Polomsky, senior vice president at GE
Antares Capital. “Working with our strategic investor relationships we
were able to provide the entire facility. We look forward to leveraging
these relationships to continue delivering financing solutions for CHS
Capital, Kele and other middle-market leaders.”
About Kele
With nearly 30 years of experience, Kele is a catalog-based supplier of
peripheral control products and services to the building automation
systems industry. Kele offers the industry’s only one-stop catalog shop
for interface products, including transmitters, sensors, switches,
gauges, transformers, actuators, relays and transducers. Kele also
offers peripheral control products for the lighting industry and
security and access control products. For additional information, please
visit www.kele.com.
About CHS Capital
CHS Capital is a Chicago-based private equity firm with 24 years of
experience investing in the middle market. Through partnerships with
strong management teams, CHS Capital accelerates earnings growth and
drives value creation through human capital enhancements, performance
improvement actions and strategic growth initiatives. CHS Capital has
made investments in over 370 businesses and invested $2.9 billion of
capital. For additional information, please visit www.chsonline.com.
About GE Antares Capital
GE Antares is a unit of GE Capital, Americas. We are builders, not
bankers. With offices in Atlanta, Chicago, Los Angeles, New York, and
San Francisco, GE Antares is a leading middle market lender, offering 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 geantares.com.
About GE Capital
GE Capital offers consumers and businesses around the globe an array of
financial products and services. For more information, visit gecapital.com
or follow company news via Twitter (@GECapitalNews). 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. Visit ge.com.
