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.”
With nearly 30 years of experience, Kele (kele.com) 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.
About CHS Capital
CHS Capital (chsonline.com) 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.
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. 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.