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GE Capital acted as Mandated Lead Arranger, alongside five other lenders, of the £146.5 million senior secured facilities provided to finance Bridgepoint’s acquisition of Oasis in a transaction valuing the business at £185 million. <br /><br /> Oasis is the UK’s largest provider of private dental care services, a major provider to the NHS and the only branded operator of scale. It operates over 200 dental practices across England, Wales and Northern Ireland, employing over 2000 people, of which 800 are dentists. Its practices offer a full range of NHS and private general and orthodontic and specialist services.
GE Capital acted as Agent and Mandated Lead Arranger, alongside two other banks, on the senior debt package (amount undisclosed) provided to Stork Prints Group. The senior debt facilities were used to acquire the minority shareholding in Stork Prints Group, refinance existing debt facilities and fund on-going working capital requirements.<br /><br /> Headquartered in Boxmeer, Netherlands, Stork Prints Group is the global leading provider of rotary screen printing equipment and consumables to the textile printing sector and a leading supplier to the label and packaging sector, and is also a leading manufacturer of metal precision components.
GE Capital acted as Agent and Mandated Lead Arranger, alongside three other lenders, on the £102.5 million senior debt package provided to Quilter. The company upsized its existing debt package to finance the combination of Quilter with Cheviot Asset Management. <br /><br /> The combined business, which will be known as Quilter Cheviot, will have total assets under management of more than £12 billion (Quilter's £8.2 billion and Cheviot's £4.1 billion), most of which are discretionary portfolios run on behalf of private clients, charities and trusts, pension funds, corporate bodies and life companies. Quilter has 385 staff based in thirteen locations in the UK, Jersey and Ireland. Cheviot has 139 partners and other staff in offices in London and Liverpool. <br /><br /> In April 2012 GE Capital was one of four lenders who arranged a £67.5m debt package to finance Bridgepoint’s acquisition of Quilter.
GE Capital acted as Mandated Lead Arranger for the £90 Million Senior Refinancing for Mayborn, the leading manufacturer and distributor of baby products under the Tommee Tippee brand to enable the company to continue its expansion through international growth and the launch of new products.
GE Capital, as Mandated Lead Arranger, provided acquisition facilities to support the company’s acquisition of Passion Distribution and Firecracker Films. Tinopolis is a UK based leading independent TV producer and distributor with a growing presence in the US. Passion Distribution is a UK TV content distributor whilst Firecracker Films is a UK independent TV and digital producer. The group produces a number of well known shows across a range of genres including (Question Time, Hell’s Kitchen US, My Big Fat Gypsy Wedding and most recently the 2012 Paralympic Games coverage ).
GE Capital was a bookrunner of the $828,000,000 Senior Facilities used to refinance existing indebtedness. The Senior Facilities include a $120MM Revolver and a $708MM Term Loan (split between the US and UK borrowers) and were syndicated to US and European investors. <br /><br /> Firth Rixson is a global leader in providing seamless rolled rings, closed and open die forgings, extruded forgings and specialty metals to the aerospace industry and other high technology markets such as power generation and mining. Its products can be found in all corners of the aerospace sector from commercial aircraft, private jets, military aircraft and helicopters.
GE Capital acted as a Mandated Lead Arranger of the £405 million all-senior credit facilities used to finance of the acquisition of Acteon Group by KKR. <br /><br /> Founded in 1989, Norwich-based Acteon is a leading oilfield service provider focused on subsea services and products across the full oilfield life cycle from exploration to decommissioning. Acteon operates under a number of market-leading brands including Intermoor, Menck, 2H and Seatronics, which are widely recognised and respected in the industry.
GE Capital acted as Agent and Mandated Lead Arranger alongside Ares Capital Europe to provide Unitranche Debt Facilities to provide Callcredit Information Group (“Callcredit”) with additional supportive funding to facilitate the Company’s planned acquisitions and future growth strategy. This is the first transaction from the joint GE Capital and Ares Capital Europe Unitranche funding initiative in Europe, a €1.75bn programme structured to provide flexible financing solutions. <br /><br /> Callcredit is a leading credit reference agency and direct marketing solutions business that supplies information to lenders and other organisations to enable them to establish an individual's credit history and monitor significant events which may be indicators of credit risk. Through its marketing solutions division Callcredit also helps companies to plan direct marketing campaigns.
GE Capital acted as a Mandated Lead Arranger, alongside five other lenders, on the £100 million senior debt facilities provided to Sparrows. The debt package helps fund the acquisition of the company by AEA Investors and provides a facility for future acquisitions. <br /><br /> Headquartered in Aberdeen, UK, Sparrows is a leading provider of mechanical handling and lifting solutions to the global offshore oil and gas industry. Its solutions include oilfield engineering services, specialising in offshore lifting, crane engineering and services, mechanical handling, pipe and cable lay-systems, fluid power engineering, equipment rentals and competence training. Sparrows has a team of over 1,500 employees and its operations span six continents.
GE Capital acted as Mandated Lead Arranger and Bookrunner for the 348MM all-senior debt facilities provided to Bartec. The facilities supported Charterhouse’s acquisition of the company as well as providing working capital and acquisition lines to support future growth. <br /><br /> Bartec is a leading global provider of industrial safety products for hazardous and explosive environments. It services customers from oil & gas, chemicals, mining, pharmaceuticals, and energy industries, benefitting from consistently growing demand and a high share of recurring maintenance and replacement revenues. The company has over 1,500 employees worldwide.
GE Capital acted as Mandated Lead Arranger for the € 155 million all-senior debt facilities to support AXA Private Equity’s buy-out of Riemser Arzneimittel AG. Riemser is a leading provider of niche pharmaceutical products in some selected indications and focusses on tail-end products.
GE Capital acted as Mandated Lead Arranger, alongside four other lenders, on the €100 million super-senior revolver provided to Stork Technical Services (“STS”). The debt package was put in place in August 2012 to refinance STS which Arle acquired in 2007. <br /><br /> Headquartered in Utrecht, Netherlands, STS is a leading provider of asset integrity services in the Oil & Gas, Chemical, Power and Industrial markets. Its solutions include maintenance, inspection, modification, repair and relocation of production facilities, consultancy, project management and execution capacity. With a team of over 14,500 employees and operations in the UK, Continental Europe, Americas, Middle East & Asia Pacific, STS delivers global services at a local level.
GE Capital’s Leveraged Finance team acted as an Arranger in providing £30 million of additional Borrower Base Revolving Credit facilities to support Arrow Global’s continuing growth strategy. The new facilities increase Arrow Global’s existing facilities alongside existing lenders. <br /><br /> Arrow Global is one of the largest and fastest growing debt purchasers in Europe and was named Debt Purchaser of the Year at the 2011 Credit Today Debt Collection Awards.
GE Capital acted as Agent and Mandated Lead Arranger, alongside two other lenders, of the £63 million senior debt package provided to facilitate the acquisition of NoteMachine. The business was acquired by Corsair Capital and management from Rutland Partners who first invested in the business in 2006. New committed debt facilities were also put in place to fund the future roll-out or acquisition of additional Automatic Teller Machines (ATMs). <br /><br /> Founded in 2006 by CEO Peter McNamara, NoteMachine operates approximately 7,000 ATMs in the United Kingdom and, in addition, more than 500 ATMs in Germany. NoteMachine has a 7% share of cash withdrawals in the United Kingdom and its ATMs dispense £5 billion of cash every year.
GE Capital acted as Mandated Lead Arranger, alongside four other lenders, who provided £77.5 million of senior secured loans to help fund the acquisition of the company by Montagu. <br /><br /> CAP is the premier provider of information services and solutions for the valuation of vehicles in the UK. It is used daily by a large number of car dealers, fleet owners, leasing companies and vehicle finance providers. CAP-code is one of the leading codes to access vehicle data and is seen as the industry standard. CAP has seen healthy revenue growth over the last years, demonstrating the importance of reliable vehicle information even in a difficult economic environment.
GE Capital’s Leveraged Finance team acted as Mandated Lead Arrangers, alongside eight other lenders, on the £205 million senior debt package provided to ASCO. The debt package was put in place in July 2012 to refinance ASCO which Doughty Hanson acquired in December 2011 from Phoenix Equity Partners paying all-equity for the business.<br /><br /> Headquartered in Aberdeen, Scotland, ASCO is the largest global provider of outsourced logistics services and solutions to the oil and gas industry. ASCO works for the major oil and gas operators and service companies co-ordinating the delivery (and return) of goods and materials destined for oil rigs and platforms in major oil producing regions around the world. With operations in the UK’s North Sea, Norway, the Caspian Sea, the Middle East, Australia, Canada and Trinidad, its activities include the delivery of everything from drilling equipment to food supplies.
GE Capital acted as Coordinator, Mandated Lead Arranger and Agent for the € 75 million senior club facilities supporting Summit Partners’ acquisition of 360T Treasury Systems AG. 360T is a fast-growing online provider of an integrated treasury tool & forex trading platform for corporates and small banks. GE Capital is among the key customers of 360T, along with more than 90% of the DAX and over 50% of the FTSE 100 corporates.
GE Capital was Agent and a Lead Arranger of the $150 million senior facilities used to finance the acquisition of Fotolia by KKR. <br /><br /> Founded in 2005, Fotolia offers its users over 17 million digital images and videos. Fotolia is the leading microstock platform in Europe and is ranked among the top stock photography websites globally, providing a unique marketplace for photographers to sell their images. Every day, photographers and designers upload thousands of new images and videos onto Fotolia's platform. Photographers receive commissions from each image that is licensed via Fotolia. Fotolia therefore provides a benefit to both photographers and buyers by protecting intellectual property rights and generating commission income for photographers, while offering quality images at affordable prices to its buyers.
In June of 2012 Synbra closed the refinancing of its debt position. GE Capital acted as Mandated Lead Arranger, alongside two other lenders, who provided circa €57.5 million of senior secured debt, including a €15 million working capital line. As part of the transaction working capital lines were increased to accommodate growth.<br /><br /> Synbra is based in the Netherlands and has operations throughout North Western Europe. Synbra is a leading specialist in expanded polystyrene (EPS) and speciality foams for sustainable insulation systems and packaging and technical applications. Synbra has a proven innovation capability and service performance. Through the recent downturn Synbra has been able to profitably grow market share and the Company is well placed to further benefit from improving economic circumstances.
Based in Paris, Tokheim Group is a global manufacturer and service provider of fuel dispensing and automation equipment. Tokheim offers customers a range of fuel dispensers and pumps, retail automation systems, payment terminals, media devices, replacement parts and upgrade kits, as well as support services, including service station construction and maintenance. <br /><br /> Tokheim closed its refinancing in June 2012, by putting together a consortium of eight MLAs including GE Capital. <br /><br /> Tokheim has been a steady performer with a successful track record of bolt-on acquisitions. Motion Equity Partners, formerly known as Cognetas, bought-out Tokheim in 2005 and has now been joined by the Fonds Stratégique d'Investissement (FSI) as a minority shareholder. New equity brought in by Motion and FSI will enable various development programs identified by the management team. <br /><br />The refinancing comprised €163 million term loan, €25 million revolving credit facility and €15m acquisition facility.
GE Capital’s Leverage Finance team acted as one of four new Mandated Lead Arrangers who provided approximately £80 million of additional financing to support LGC’s continued growth. The new facilities supplemented the existing debt package that was put in place for the buyout by Bridgepoint from LGV Capital in 2010 in a transaction that valued the business at £257 million. Since the original buyout, LGC has made a number of acquisitions and the new financing provides additional facilities in order to support further acquisition opportunities. <br /><br />LGC is an international leader in laboratory services, measurement standards, reference materials and proficiency testing. The company operates out of 22 countries with laboratories and centres across Europe and the US, as well as sites in Brazil, China and India.
GE Capital was a Mandated Lead Arranger in the £90 million senior facilities provided to finance a dividend recapitalisation of the UK Private Hospitals operator owned by Welsh, Carson, Anderson & Stowe <br /><br /> Aspen Healthcare is the owner and operator of three highly regarded private acute hospitals, one cancer centre and one clinic in London, the Home Counties and Edinburgh, providing medical services ranging from health screening, outpatient clinics and cosmetic surgery to specialised cancer treatments and post-operative nursing care.
GE Capital’s Leveraged Finance team acted as Agent and Mandated Lead Arranger, alongside two other lenders, on the £63 million senior debt package provided to Notemachine. The debt package refinanced the business’ existing debt facilities and provided new committed facilities to fund the future roll-out or acquisition of additional ATMs. Notemachine’s leverage on closing was in the region of 3.7x EBITDA. <br /><br />Paul Scott, Chief Investment Officer & Head of Sponsor Coverage at GE Capital EMEA, said: “Since the initial investment by Rutland Partners, Notemachine has grown both on an organic basis and through acquisition. As a leading independent provider of ATM’s in the UK the company is well placed to grow and we are delighted to be able to provide a new financing package to help the business achieve its future growth objectives.” <br /><br />Notemachine is owned by UK private equity firm Rutland Partners, who first invested in the business in September 2006 through the take private of Scott Tod PLC. At this time the business had an installed base of approximately 2,000 ATMs. Notemachine now has an estate of over 7,000 cash machines and offers a range of outsourcing solutions to financial institutions and other ATM providers. With a total of 12 million customer transactions every month, it supplies approximately £5 billion of cash every year.
GE Capital’s Leveraged Finance team acted as Agent and Mandated Lead Arranger, alongside three other lenders, on the £67.5 million senior debt package provided to Quilter. The debt package facilitated Bridgepoint’s acquisition of the specialist private client wealth management group from Morgan Stanley Smith Barney. <br /><br />Paul Scott, Chief Investment Officer & Head of Sponsor Coverage at GE Capital EMEA, said: “This was particularly noteworthy given Quilter’s status as an FSA-regulated entity, which added an extra element of complexity to the financing requirements. We worked closely with both the company and Bridgepoint to achieve a suitable package for Quilter and are excited to be supporting such a long-established and well regarded business.” <br /><br />Quilter has approximately £7.6 billion of funds under management (as at 31 December 2011), and its clients include high net worth individuals, charities and trusts, pension funds, corporate bodies and friendly societies. The business employs approximately 350 staff via a regional network of 13 offices throughout the UK, Jersey and Ireland and can trace its ancestry back to 1777.
GE Capital’s Leveraged Finance team provided senior secured facilities to finance Altor’s acquisitions of Orchid Orthopaedic Solutions and its subsequent acquisition of Sandvik Medical Solutions. <br /><br />Orchid designs and manufactures implants and instruments for the orthopaedic and dental industry. The company offers bone screws, bone plates, intramedulary nails, spinal fixation screws and rods, external fixation assemblies, and porous implant materials. Sandvik Medical Solutions is contract manufacturer operating in the same industry.
GE Capital’s Leveraged Finance team acted as Agent and Mandated Lead Arranger alongside three other lenders, providing an £80 million senior financing package to support Towerbrook Capital Partners’ buyout of Volution. <br /><br />Volution is a leading UK manufacturer and distributor of ventilation products, based in Crawley, UK. Vent-Axia, the Company’s principal brand, was founded in 1936 and Volution Group Limited was formed in 2002. The Company’s broad product range includes residential, commercial and industrial electrical fans and systems and other ventilation related products. Volution’s core brands, Vent-Axia, Manrose and Torin-Sifan, are the leading brands in the UK ventilation sector.
GE Capital was Agent and Global Coordinator of the $230 million senior facilities used to finance the acquisition of Turaz by Vista Equity Partners. <br /><br /> Turaz, formally the Trade and Enterprise Risk Management business of Thomson Reuters, is a leading global provider of risk management software, offering solutions for the trade & risk management and financial enterprise risk management industry segments. The business was established in 1993 with the introduction of the Kondor trade management product, and has since grown into a global player with cross-asset capabilities with a core competence in Treasury trading.
GE Capital acted as Mandated Lead Arranger, alongside three other lenders, of the £50 million senior secured facilities provided to finance HgCapital’s investment in Computer Software Holdings, formerly known as Iris Software Group. <br /><br /> Computer Software Holdings provides enterprise resource planning (ERP) software and additional products to niche markets such as legal, not-for-profit, sports, project management and consultancy. The business serves over 11,000 customers across a wide variety of vertical sectors with an extensive product suite
GE Capital’s Leverage Finance team acted as Mandated Lead Arranger alongside five other lenders arranging a €240 million refinancing of Coditel Holding S.A., the Belgium & Luxembourg operations of Numericable. The €140 million senior facilities and €100 million mezzanine facility refinanced the existing bridge loan. <br /><br />Coditel Holding S.A. is the leading cable provider of triple play (TV, broadband internet and telephony) services in the Brussels region and in Luxembourg.
GE Capital’s Leveraged Finance team, as one of five Mandated Lead Arrangers, provided £105 million of Senior Secured Facilities to finance HgCapital’s investment in Iris Accountancy Solutions (IAS). <br /><br />IAS is the market leader in the provision of core application software to accountants in the UK, currently serving over 17,000 UK accounting practices. Its payroll business supports circa 30,000 small and medium enterprises (“SMEs”) and naturally links into the accounting practice division in the areas of tax and national insurance. IRIS offers customers the greatest choice of specialist accountancy software and services managed under three leading brands - IRIS, PTP and Drummohr. With greater than 95% customer retention and 40% of the top 50, IAS strives to not only deliver great solutions but also provide an exceptional customer service experience.
GE Capital’s Leveraged Finance Team acted as Senior Coordinator in the raising of £45 million additional debt to finance a number of strategic growth opportunities for Firth Rixson. This was coupled with a £45 million equity injection from the Oak Hill Capital Partners, demonstrating their commitment to support Firth Rixson’s growth ambitions. <br /><br /> Firth Rixson is a global leader in providing seamless rolled rings, closed and open die forgings, extruded forgings and specialty metals to the aerospace Industry and other high technology markets such as Power Generation and Mining. Its products can be found in all corners of the aerospace sector from commercial aircraft, private jets, military aircraft and helicopters.
GE Capital's Leveraged Finance team acted as Mandated Lead Arranger alongside thee other banks, arranging a £99 million refinancing of Micheldever Tyre Services, a portfolio company of Graphite Capital. The facilities have refinanced existing debt and provided additional expansionary acquisition lines. <br /><br />Micheldever Tyre Services is the UK’s largest tyre distributor and the 4th largest tyre service centre operator by volume. The company distributes ~21% of the replacement tyres in the UK and operates its own service centre network under the Protyre brand name. <br /><br />Founded in 1972, Micheldever Tyre Services carries the largest range of tyres available in the UK and is exclusive distributor for a number of mid-range brands, including Kumho and Falken. Headquartered in Hampshire, the company employs 1,019 people in the UK.
GE Capital’s Leveraged Finance team acted as Mandated Lead Arranger alongside two other banks arranging senior facilities to support Exponent’s acquisition of BBC Magazines from BBC Worldwide (“BBCW”) now part of Immediate Media. <br /><br />Immediate Media is the third largest consumer magazine business by Retail Sales Value in the UK. Under the terms of the deal Exponent acquired, in full, Radio Times and a number of magazines less closely aligned to the BBC, as well as the rights to publish BBC-branded titles under licensing and contract arrangements.
GE Capital’s Leveraged Finance team acted as Mandated Lead Arranger and Bookrunner alongside thee other banks, arranging a £71 million all-senior refinancing of The Regard Partnership. The facilities have refinanced existing debt and provided additional expansionary capex/acquisition lines. <br /><br />Founded in 1994, The Regard Partnership is one of the UK’s leading providers of high to medium acuity residential and supported living care to adults & children. The group has grown steadily both organically and through acquisitions and now operates across 119 sites across the UK, providing 761 beds. <br /><br />The Regard Partnership is owned jointly by MML Capital Partners and management following MML Capital Partners’s initial investment in 2007.
GE Capital’s Leveraged Finance team has funded the acquisition financing in support of Altamont Capital Partner’s simultaneous acquisition and merger of McLarens Young International and Airclaims. GE arranged and underwrote the senior facilities in a club deal. <br /><br />MYI is a leading independent global loss adjustor, focussed on complex commercial claims, with a particular expertise in property. Airclaims is the leading global aviation loss adjustor, with extensive technical expertise in large commercial aviation. ACP acquired Airclaims from Lloyds Development Capital.
GE Capital’s Leveraged Finance team acted as Bookrunner and Mandated Lead Arranger on the upsized senior facilities for Acorn Care & Education (“Acorn”). £55 million of add-on facilities were arranged to support Acorn’s acquisition of Pathway Care, refinance the existing mezzanine debt and provide funding for future growth opportunities. <br /><br />In January 2010, GE Capital acted as Mandated Lead Arranger on the £69 million senior facilities in a club deal to support Teachers’ Private Capital’s acquisition of Acorn from Phoenix Equity Partners. Acorn is a leading provider of fostering services and schools for children in the UK with challenging and complex learning disabilities and the acquisition of Pathway Care further strengthens its position within the independent fostering sector.
GE Capital acted as MLA & Bookrunner for the provision of new add-on acquisition facilities for the Civica Group in support of their ongoing growth aspirations. <br /><br />Civica is a market leader in specialist systems and business process services for the public sector. Civica supports customers across a number of sectors including local government, housing and asset management, education, health, public protection and enforcement.<br /><br />3i bought Civica in May 2008<br /><br /><br />Phill Rowland, CFO said “<em>Civica’s acquisition strategy is key to the group’s future development, and GE Capital thoroughly understood our requirements and were extremely proactive and supportive throughout the whole process.</em>”<br /><br />
GE Capital’s Leveraged Finance team as Mandated Lead Arranger and Bookrunner supported Cinven’s buyout of SLV, the German lighting group. The total senior facilities were €295 million. <br /><br />SLV is based near Aachen, and it provides residential and technical lighting products for indoor and outdoor use. Cinven is buying the firm from Hg Capital.
In May 2010, HgCapital acquired Lumesse (formerly StepStone Solutions) from Axel Springer for €110MM. In August 2010, Lumesse (formerly Stepstone Solutions) acquired MrTed, a key competitor in the European recruitment software market. The acquisitions were funded with equity and a bridge loan. <br /><br />GE Capital’s Leveraged Finance team, as one of four Mandated Lead Arrangers, provided €73MM of Committed Senior Facilities to refinance the bridge loan and support continued strategic acquisitions through a €15MM committed acquisition facility. There is also a €15MM uncommitted acquisition facility. <br /><br />Lumesse is a global company making talent management solutions work locally. Its products include talent management (performance management and learning management) and talent acquisition (e-recruitment). Lumesse is one of the biggest European software-as-a-service companies with offices and partners in more than 40 countries covering EMEA, the Americas and Asia-Pacific. Lumesse works with over 1,700 customers in over 70 countries. Lumesse is a rapidly growing, profitable and successful business.
GE Capital’s Leveraged Finance team as Mandated Lead Arranger completed the £68 million add-on financing for the Survitec Group. Survitec has made two bolt-on acquisitions and in support of these, Survitec will be adding new senior debt to its existing capital structure and GE Capital has committed to the additional facilities. <br /><br />Survitec Group is the global leading designer & manufacturer of safety and survival equipment for the defence, marine & offshore oil & gas markets. The business is split in 4 divisions: Defence and Aerospace; Marine; Service and Distribution; Customer Logistics Support. The two acquisitions will enhance the Group’s Marine product offering and position Survitec as the global #1 life raft manufacturer by installed base. <br /><br />GE Capital European Leveraged Finance Team was part of the original club deal that completed in January 2010 when the business was acquired by Warburg Pincus.
GE Capital European Leveraged Finance Team as Mandated Lead Arranger and Bookrunner have underwritten a €135 million all-senior loan financing supporting Waterland’s acquisition of RHM Group, a German provider of rehabilitation and inpatient care.<br /><br />Waterland bought RHM at the end of last year. The firm operates 13 specialised clinics for rehabilitation and acute psychiatric care and eight nursing homes across Germany.
GE Capital European Leveraged Finance Team acted as Mandated Lead Arranger of the £62MM all-senior facilities in a club deal to support of Barclays Private Equity’s acquisition of The Mill from The Carlyle Group.<br /><br />Michael Wolfson (Finance Director) commented, “During the due diligence and credit stage GE Capital took a very structured and organised approach to their enquiries. The team was exceptionally pragmatic throughout the preparation of the loan documentation and provided huge support to the equity provider enabling their tight timetable to be delivered.”<br /><br />The Mill is an award-winning video content business for global brands and advertising agencies such as Nike, Ford, WPP, Publicis Groupe, AMV BBDO, Ogilvy and BBH. The Mill also works for broadcasters and television production companies such as the BBC, Shine and Impossible Pictures on dramas including Doctor Who, Merlin and Primeval and for games developers and publishers including Sony Computer Entertainment and EA.
GE Capital European Leveraged Finance Team supported Duke Street’s acquisition of wagamama as Mandated Lead Arranger and Bookrunner of the £115m senior debt facilities. The business was acquired from Lion Capital for an undisclosed consideration. GE Capital European Leveraged Finance Team arranged and underwrote a senior debt package to support the acquisition as well as working capital and capex facilities to support the continued roll out of new restaurants. <br /><br />Antony Perring (Finance Director) commented, “We are delighted that GE Capital is supporting wagamama during its next phase of growth as an arranger and underwriter of our senior debt facilities. The GE Capital team displayed an efficient and professional approach both during the deal completion process and the execution of the senior debt syndication.” <br /><br />wagamama is the leading chain of Japanese-style noodle bars in the UK. Since its establishment in 1992, the chain has grown to 70 restaurants in the United Kingdom, three restaurants in the United States and a franchise operation with 36 restaurants in 16 countries across Europe, the Middle East and Australasia.
GE Capital European Leveraged Finance Team was Lead Arranger for the new super senior revolving credit facility which was put in place to refinance an existing revolving credit facility. <br /><br />Grohe is Europe’s largest and the world’s leading single-brand manufacturer and supplier of sanitary fittings, offering a broad range of products for handling water in bathrooms and kitchens. It focuses on the medium to high-end mass-markets for sanitary fittings and sells its products in more than 130 countries. Grohe was acquired in 2004 by funds advised by DLJ Merchant Banking and Texas Pacific Group.
GE Capital European Leveraged Finance Team acted as Mandated Lead Arranger for The Priory Group’s £70MM Super Senior Revolver and Co-Manager on the £425MM Senior Secured Notes provided to support Advent International’s acquisition of the business from The Royal Bank of Scotland Group plc. <br /><br />The Priory Group is the largest independent provider of mental health, specialist care and specialist education services in the UK by number of beds. The Group runs 66 facilities with c. 3,400 beds/places, focusing on acute psychiatry, secure and rehabilitation services, complex care, specialist education and elderly care.
GE Capital European Leveraged Finance Team was Lead Arranger on the €209MM loan supporting Axa Private Equity’s buyout of Novacap. The new facility also funded an add-on acquisition. Axa bought the business from Bain.<br /><br />Lyon-headquartered Novacap is a diversified group producing and selling mineral and organic chemical products, with a turnover of roughly €470 million in 2010.
GE Capital European Leveraged Finance Team has co-led a banking club to provide senior debt facilities in Westbury Street Holdings Limited (“WSH”). Minority equity capital was provided by ICG plc. The funding supports WSH’s recent capital reorganisation which positions the business very well for its next phase of growth.<br /><br />WSH was founded in 2000 and through a combination of organic and acquisition has in ten years grown to be the fourth largest contract caterer in the UK and the largest independent. WSH operates the subsidiary companies BaxterStorey, Caterlink, Holroyd Howe, Portico and benugo, with each business tasked with delivering best in class service in the market in which they operate. The businesses employ over 9,800 staff and serve clients including Barclays, the V&A, Oracle, Edinburgh Castle and Deutsche Bank.
GE Capital European Leveraged Finance Team acted as Mandated Lead Arranger of the £410MM Senior Secured Loan Facilities for Towergate Partnership Limited ("Towergate") backing Advent International's £200MM investment in conjunction with a refinancing of the company. <br /><br />Towergate is Europe’s largest independently owned insurance intermediary. Since being founded in 1997 the business has acquired over 170 underwriting and broking firms and now employs around 4000 staff across 100 UK offices. Towergate is the most significant provider of insurance to the SME market and is engaged in all roles of the insurance supply chain except the provision of capital.
GE Capital’s Leveraged Finance team provided add-on financing to support Kalle Group’s acquisition of Jif-Pak Manufacturing. <br /><br />In 2009, GE Capital European Leveraged Finance Team supported Silverfleet Capital’s €206MM acquisition of Kalle Group as MLA. Kalle Group is Germany’s largest producer of synthetic sausage casings and holds a leading position globally. Silverfleet Capital is pursuing a buy and build strategy. Jif-Pak Manufacturing will strengthen Kalle Group’s position in the strongly growing US and value adding casings market.
GE Capital European Leveraged Finance Team has underwritten USD500m of European factoring and US asset-based lending facilities to support the future working capital requirements of Alcan Engineered Products, an aluminium products manufacturer. <br /><br />The financing supports the new joint venture company to be created by Apollo Management, Fonds Stratégique d'Investissement and Alcan’s current owner Rio Tinto. <br /><br />The financing includes a EUR300m accounts receivable (factoring) facility in France, Germany and Switzerland, and a USD100m asset-based lending arrangement in the US.