GE Antares Capital Provides $85 Million Credit Facility to Kele, Inc.
August 16 2012 - 8:00AM
Business Wire
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.
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