PRZOOM - /newswire/ -
Norwalk, CT, United States, 2011/09/09 - GE Capital, Corporate Finance today announced it is the administrative agent for a $90 million asset-based credit facility for Caraustar Industries Inc., a leading manufacturer of recycled and converted paperboard products (NYSE: GE). NYSE: GE
The loan will be used to refinance debt and support working capital needs. GE Capital Markets served as lead arranger and bookrunner.
Founded in 1938, Austell, GA-based Caraustar is majority owned by private investment funds managed by Wayzata Investment Partners LLC, a Minneapolis-based private equity firm. Caraustar is comprised of four business groups: Mill Group, Consumer Packaging, Industrial Packaging and Recovered Fiber Group. The company serves the four principal recycled boxboard product end-use markets: tubes and cores; folding cartons; gypsum facing paper and specialty paperboard products.
“GE Capital has a deep industry expertise and knowledge of our business,” said William A. Nix, chief financial officer of Caraustar Industries. “They have continued to provide us with capital to meet our evolving business needs through a challenging business environment.”
“Paper and packaging is one of our industry specialties,” said Tom Quindlen, president and CEO of GE Capital, Corporate Finance. “We work closely with our customers to provide the right financing through all economic cycles.”
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; financial and business services; food, beverage and agribusiness; 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. Visit gelending.com/clnews.
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 (@GECapital). GE (ge.com) is an advanced technology, services and finance company taking on the world’s toughest challenges.
Ned Reynolds, GE Capital Americas
P: +1 203 229 5717 / M: +1 203 837 0699 / E: ned.reynolds[.]ge.com.