PRZOOM - /newswire/ -
Chicago, IL, United States, 2015/02/13 - GE Antares, a unit of GE Capital, announced it is serving as administrative agent on a $145.6 million senior secured credit facility to support the acquisition of Lazer Spot, Inc. by Greenbriar Equity Group - LazerSpot.com / GreenbriarEquity.com. NYSE: GE
GE Capital Markets served as co-lead arranger and co-bookrunner on this facility.
Founded in 1996 and headquartered in Atlanta, Lazer Spot is a leader in a comprehensive range of outsourced yard management services including trailer spotting and shuttling. Lazer Spot operates 260 sites for more than 80 blue chip customers across the consumer packaged goods, food and beverage, pulp and paper, retail and other industrial sectors.
“Certainty of execution and speed are attributes we trust GE Antares to deliver and this transaction was no different,” said Jill Raker, managing partner at Greenbriar. “Their familiarity with Lazer Spot and track record of supporting management’s growth plans made them an ideal financing partner. We look forward to continuing our relationship with GE Antares.”
“Since becoming part of our portfolio in 2010, we’ve watched Lazer Spot expand and exceed expectations,” said Doug Cannaliato, managing director of GE Antares. “We’re pleased to lead their senior debt financing and provide a minority equity investment to Greenbriar in support of their acquisition. We look forward to continuing to support Lazer Spot’s passionate management team as they grow.”
About Lazer Spot
Lazer Spot, Inc. (lazerspot.com) is the largest independent provider of comprehensive yard management services and solutions in the U.S., managing the movement of trailers at high volume distribution centers and manufacturing facilities. It also provides trailer shuttle services through company-provided tractors and drivers. The company serves a diverse customer base nationally including many of the world’s largest consumer products companies.
About Greenbriar Equity Group
Greenbriar Equity Group, LLC (greenbriarequity.com), a private equity firm with over $2.5 billion of committed capital, focuses exclusively on the global transportation industry, including companies in logistics and distribution, aerospace and air transport, automotive, industrial equipment and components, MRO, surface transport and other related sectors. Greenbriar invests with proven management teams who are interested in being significant equity owners in their companies as well as with corporate partners who are interested in raising capital. Greenbriar’s partners bring many decades of experience at the highest levels within the transportation industry.
About GE Antares Capital
GE Antares (geantares.com) is a unit of GE Capital. With offices in Atlanta, Chicago, Los Angeles, Toronto, 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. GE Antares was recognized by Private Debt Investor and Private Equity International as 2013 Lender of the Year, North America and Mid-Cap Lender of the Year, North America, respectively.
GE Capital (gecapital.com) offers consumers and businesses around the globe an array of financial products and services.
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