PRZOOM - /newswire/ -
Chicago, IL, United States, 2011/10/26 - GE Capital announced it served as the administrative agent on a $900 million asset-based senior secured credit facility for BJ’s Wholesale Club, Inc. (NYSE: GE) - GEAntares.com. NYSE: GE
The funds were used to support the acquisition of BJ’s by Leonard Green & Partners, L.P. and CVC Capital Partners. GE Capital Markets acted as joint lead arranger and joint bookrunner.
BJ’s Wholesale Club, headquartered in Westborough, Mass., operates warehouse clubs in the eastern U.S. with more than 190 clubs throughout 15 states.
“GE Capital’s long relationship with Leonard Green and CVC, retail experience and ability to make commitments in a tough economic environment made them a valued partner in financing this acquisition,” said J. Kristofer Galashan, principal at Leonard Green & Partners.
“We are very pleased to again support Leonard Green and CVC with this latest acquisition,” said James Kenefick, senior managing director of GE Antares Capital.
Jim Hogan, senior managing director of GE Capital, Corporate Retail Finance added,“Years of experience working with retailers through many economic cycles means we’re prepared to make significant financial commitments.”
About GE Antares Capital
GE Antares (geantares.com) 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.
About GE Capital, Corporate Retail Finance
GE Capital, Corporate Retail Finance is a leading provider of senior secured loans to retailers, primarily in the U.S., to support working capital, growth, acquisitions and more. Visit gelending.com/clnews.
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 (ge.com) is Imagination at Work - a diversified technology, media and financial services company focused on solving some of the world's toughest problems.