PRZOOM - /newswire/ -
Norwalk, CT, United States, 2013/02/19 - GE Capital, Corporate Finance announced it is administrative agent on an incremental $200 million credit facility to Waupaca Foundry, Inc. The funds were used to support a dividend recapitalization (NYSE: GE) - GECapital.com. NYSE: GE
GE Capital Markets served as lead arranger for the transaction. GE Capital has been a lender to the company since serving as administrative agent on a $485 million acquisition financing announced in June 2012.
Headquartered in Waupaca, WI, Waupaca Foundry is one of the largest iron foundry companies in the world. It produces gray and ductile iron castings for the automotive, agriculture, construction and commercial-vehicle markets. The company operates six manufacturing facilities located in Wisconsin, Indiana and Tennessee. KPS Capital Partners, LP, a private equity firm with over $2.5 billion of assets under management, is the manager of the KPS Special Situations Funds. KPS acquired Waupaca Foundry, Inc., at the time named ThyssenKrupp Waupaca, Inc., in June 2012.
“GE Capital specializes in providing business-building capital to middle-market companies,” said David Shapiro, managing partner at KPS Capital Partners. “As Waupaca Foundry continues to grow, it’s critical we have a lender who can support the company and adapt financing structures to match its growth profile.”
“With deep automotive, manufacturing and metals expertise, we were able to quickly provide Waupaca Foundry with additional financing,” said Tom Quindlen, president and CEO of GE Capital, Corporate Finance. “Working closely with customers to provide growth capital as they evolve is our specialty.”
About GE Capital, Corporate Finance
GE Capital, Corporate Finance provides asset-based, cash flow and structured loans and leases to mid-size and large U.S. businesses. Financing supports working capital, growth, acquisitions, turnarounds and balance sheet optimization in key sectors: Aerospace and defense; automotive and transportation; chemicals and plastics; construction and building products, corporate aircraft; energy; food and beverage; manufacturing; marine; metals and mining; paper, packaging and forest products; retail; and technology and electronics. With Access GE, clients also benefit from access to GE’s best practices to help build their business. Visit gelending.com/clnews.
GE Capital (gecapital.com) offers consumers and businesses around the globe an array of financial products and services. GE (ge.com) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance.
Contact: Ned Reynolds, GE Capital, Americas
P: +1 203 229 5717 / M: +1 203 837 0699 - E: ned.reynolds[.]ge.com.