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GE Antares Capital Provides $400 Million Credit Facility to Hearthside Food Solutions, LLC - GE Antares, a unit of GE Capital, announced today that it agented a $400 million senior credit facility as part of Wind Point Partners’ recapitalization of Hearthside Food Solutions - WindpointPartners.com / GEantares.com
GE Antares Capital Provides $400 Million Credit Facility to Hearthside Food Solutions, LLC

 

PRZOOM - /newswire/ - Chicago, IL, United States, 2012/06/18 - GE Antares, a unit of GE Capital, announced today that it agented a $400 million senior credit facility as part of Wind Point Partners’ recapitalization of Hearthside Food Solutions - WindpointPartners.com / GEantares.com. NYSE: GE

   
 
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The financing consisted of a $340 million term loan, a $30 million delayed draw term loan, and a $30 million revolving credit facility. GE Antares served as administrative agent and GE Capital Markets acted as joint lead arranger and joint bookrunner for the transaction.

Hearthside Food Solutions, headquartered in Downers Grove, IL, is the nation’s largest privately held independent bakery and is a full service contract manufacturer of high quality grain-based food and snack products for some of the world’s leading premier brands. The company was formed in 2009 and today operates 13 food manufacturing facilities in Michigan, Ohio, Indiana, Kentucky, Minnesota, and Oregon, with a workforce in excess of 5,000.

"GE Antares’ long relationship with Wind Point, track record of execution, and ability to make commitments in a tough economic environment made them a valued partner in financing this transaction," said David Stott, vice president of Wind Point Partners. “They provide quick feedback and deliver consistently, which is critical in today's volatile market."

“We are excited to join with GE Antares and appreciate their support of our company as we continue to grow and build our business,” said Rich Scalise, chairman and CEO of Hearthside. “GE Antares has proven to be a trusted source for our financing needs and continues to exceed our expectations.”

"We are extremely pleased to support Wind Point Partners and Hearthside," said Mike Hynes, senior vice president at GE Antares. "Our relationship with Hearthside demonstrates our ability to provide leading middle market companies with financing that helps management create enterprise value."

About Wind Point Partners

Wind Point Partners (windpointpartners.com) is a private equity investment firm that partners with top caliber executives to acquire middle market businesses where it can establish a path to value creation. Since its founding in 1984, Wind Point has raised seven funds with over $2.8 billion in commitments and acquired more than 90 platform companies and 160 add-on acquisitions. Wind Point Partners is currently committing from Wind Point VII, a $915 million fund closed in April 2009.

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

GE Capital (gecapital.com) offers consumers and businesses around the globe an array of financial products and services. For more information, visit the website 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.

 
 
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GE Antares Capital Provides $400 Million Credit Facility to Hearthside Food Solutions, LLC

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