GE Antares Capital Finances The Riverside Company’s Acquisition of Area Wide Protective
June 22 2015 - 8:00AM
Business Wire
GE Antares, a unit of GE Capital, announced today it is serving
as administrative agent on a $124.5 million senior secured credit
facility to support the acquisition of Area Wide Protective (AWP)
by The Riverside Company. GE Capital Markets served as joint lead
arranger and joint bookrunner on this facility.
Headquartered in Kent, OH and founded in 1993, AWP offers
temporary traffic management solutions to a variety of customers,
including utilities, utility contractors and telecommunications
companies.
“We have a long-standing relationship with the team at GE
Antares and are happy to have worked with them on this transaction.
Their industry expertise and certainty of execution makes them an
ideal financing partner,” said Chris Jones, partner of The
Riverside Company.
“Riverside’s operational heritage and expertise combined with
AWP’s deep customer loyalty will pave the way for an even better
organization,” said Brian Polomsky, a managing director with GE
Antares. "We are excited to support this acquisition and look
forward to supporting management and Riverside as they grow.”
About Area Wide Protective
Area Wide Protective (AWP) is America's Traffic Control Leader,
providing safe, professional, and comprehensive traffic management
to a diversified client base throughout the Eastern United States.
Daily, AWP deploys over 1,000 traffic control professionals to
private contractors and major public utilities throughout 17
states, from Michigan to New Jersey, and South to Florida. A
company-owned fleet of over 800 fully-equipped, late model pick-up
trucks and specialty vehicles ensures that AWP delivers safe,
compliant, and on-time traffic control equipment and services to
every job site. For more information visit
www.awptrafficsafety.com.
About The Riverside Company
The Riverside Company is a global private equity firm focused on
acquiring and investing in growing businesses valued at up to $300
million. Since its founding in 1988, Riverside has invested in more
than 390 transactions. The firm’s international portfolio includes
more than 80 companies. (http://www.riversidecompany.com or
http://www.riversideeurope.com)
About GE Antares Capital
On June 9, 2015, GE announced it signed a definitive agreement
to sell its U.S. Sponsor Finance business, which includes GE
Antares, to Canada Pension Plan Investment Board (CPPIB). The
transaction is expected to close in the third quarter of 2015.
After the closing, the business will operate as Antares
Capital.
GE Antares is a unit of GE Capital. With offices in Atlanta,
Chicago, Los Angeles, New York, Norwalk, CT and San Francisco, GE
Antares is the leading middle market lender, offering a “one-stop”
source for GE’s lending and other services offered to middle market
private equity sponsors. Providing more than $123 billion in
financing over the past five years alone, GE Capital was named 2014
Lender of the Year by Mergers & Acquisitions. GE Antares was
also recognized by Private Debt Investor and Private Equity
International as 2013 Lender of the Year, North America and Mid-Cap
Lender of the Year, North America, respectively. For more
information, visit geantares.com.
GE Capital offers customers around the globe an array of
financial products, services and insights to help them grow their
businesses.
GE (NYSE: GE) imagines things others don’t, builds things others
can’t and delivers outcomes that make the world work better. GE
brings together the physical and digital worlds in ways no other
company can. In its labs and factories and on the ground with
customers, GE is inventing the next industrial era to move, power,
build and cure the world. www.ge.com
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version on businesswire.com: http://www.businesswire.com/news/home/20150622005155/en/
GE Antares CapitalAlexandra Abrams,
312-441-7356alexandra.abrams@ge.comorGE CapitalNed Reynolds,
203-229-5717Ned.Reynolds@ge.com
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