GE Capital, Franchise Finance Provides Imvescor with $37.1 Million Credit Facility for Refinancing

Press release:

07 September 2012

GE Capital, Franchise Finance Provides Imvescor with $37.1 Million Credit Facility for Refinancing

 

MONTREAL (QC), Sept. 7, 2012 - GE Capital, Canada’s Franchise Finance business announced today that it has provided Imvescor Restaurant Group Inc. (IRG) with a $37.1 million term loan. IRG will use the funds to refinance all of its outstanding secured debt facilities, including senior loans from GE Capital. The new debt structure also provides IRG with additional flexibility to pay down its outstanding subordinated debt.

Headquartered in Moncton, New Brunswick, IRG owns franchised and corporate restaurants throughout Canada under four brands: Pizza Delight®, operating primarily in Atlantic Canada in the family/mid-scale segment; Mikes® and Scores®, operating primarily in Quebec in the family and casual dining segments and the take-out and delivery segments; and Bâton Rouge®, operating in Quebec, Ontario and Nova Scotia in the casual dining segment.

"Throughout our association with GE Capital, we’ve been impressed by their understanding of and commitment to the restaurant industry,” said Denis Richard, president and chief executive officer of IRG. “GE Capital helps us create shareholder value by providing a solid financial foundation that allows us to concentrate our energies on executing our strategic initiatives."

"We’ve financed more than $1.1 billion in restaurant transactions in Canada over the last 10 years, through all the market cycles," said Edward Khediguian, senior vice president of GE Capital’s Franchise Finance business in Canada. "We combine our industry knowledge, expertise, and financial capabilities to provide customers with customized and flexible credit facilities that help them concentrate on growing their businesses.”

About GE Capital, Franchise Finance GE Capital, Franchise Finance is a leading lender to the franchise finance market, serving the restaurant and hospitality industries. We specialize in financing regional and national restaurant businesses of all sizes across the country. Over the past 10 years, we’ve financed more than 700 restaurant customers with upwards of 1,500 property locations, lending more than $1.1 billion to the Canadian restaurant space. In the Canadian hotel market, we provide financing for nationally known brands in the limited and select-service segments of the industry.

With more than 20 offices throughout Canada, GE Capital (gecapital.ca) offers a wide variety of financial products and services to address commercial financing and fleet management needs in all phases of a business' lifecycle. From equipment finance to working capital and growth financing to large asset-based and restructuring loans, we apply our wealth of industry expertise and develop custom solutions for your company. Some of the industry sectors we specialize in include transportation, construction, healthcare, agriculture, forestry, manufacturing, oil and gas, wholesale and retail, and restaurant and hotel franchise.

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 (NYSE: GE) 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. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.

GE Capital Provides $75 Million Asset-Based Credit Facility for Acme Lift Company, LLC

Press release:

07 September 2012

GE Capital Provides $75 Million Asset-Based Credit Facility for Acme Lift Company, LLC

 

NORWALK, Conn.--07 September 2012-- GE Capital, Corporate Finance today announced it is administrative agent on a $75 million asset-based credit facility for Acme Lift Company, LLC, a leading wholesale rental company for aerial work platform equipment. The loan will be used to refinance existing debt and support future growth. GE Capital Markets served as sole bookrunner.

Based in Arizona and founded in 1997 by Woody Weld, Acme Lift Company provides equipment to more than 900 rental companies in the United States and Canada, who in turn rent equipment to commercial, industrial and specialty construction firms. Acme is one of the world’s largest strictly wholesale rental companies, with an extensive fleet of boom lifts, telehandlers and truck-mounted cranes.

“GE Capital brought extensive industry knowledge and creative structuring concepts to the deal,” said Steve Nadelman, president and chief operating officer of Acme Lift Company. “Their deep understanding of our business model enabled them to deliver a financing solution that will help build our business.”

“We’re committed to providing capital and market insight to our customers,” said Bob McCarrick, chief commercial officer, lending for GE Capital, Corporate Finance. “Leveraging GE’s insight and industry experience in the rental equipment marketplace allowed us to develop tailored financing options that support the growth of mid-size businesses.”

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. Funding may be provided through GE Capital, Corporate Finance’s affiliate, GE Capital Bank, member FDIC. With Access GE, clients also benefit from access to GE’s best practices to help build their business. Visit gelending.com/clnewsor follow@GELendLease on Twitter.

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 (NYSE: GE) 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. For more information, visit ge.com.

GE Capital is Co-collateral Agent on $1.65 Billion Asset-Based Credit Facility for SUPERVALUINC.

Press release:

05 September 2012

GE Capital is Co-collateral Agent on $1.65 Billion Asset-Based Credit Facility for SUPERVALUINC.

 

NORWALK, Conn.--05 September 2012--GE Capital, Corporate Retail Financetoday announced it is co-collateral agent on a $1.65 billion asset-based credit facility for SUPERVALU INC., a leading national grocery and pharmacy retailer. The loan will be used for working capital needs and to refinance existing debt. GE Capital Markets served as joint lead arranger and joint bookrunner.

Based in Eden Prairie, Minnesota, SUPERVALU (NYSE: SVU) is one of the largest companies in the domestic grocery channel with annual sales of $35 billion. SUPERVALU serves customers across the United States through its network of more than 4,400 locations, which include traditional retail and hard discount stores, in-store pharmacies and independent stores. SUPERVALU has approximately 130,000 employees.

“This financing will provide SUPERVALU with more financial flexibility as we execute our business turnaround.” said Sherry Smith, executive vice president and chief financial officer of SUPERVALU INC.

“We believe that effective capital solutions are built on sound financing structures as well as strategic insight into the retail business cycle,” said Jim Hogan, senior managing director of GE Capital, Corporate Retail Finance. “Our long-standing specialization financing mid-size and large retailers allows us to develop tailored solutions that support growth.”

About GE Capital, Corporate Retail Finance

GE Capital, Corporate Retail Finance is a leading provider of senior secured loans to retailers, primarily in the U.S., to support working capital, growth, acquisitions and more. With Access GE, clients also benefit from access to GE’s best practices. For more information, visitwww.gelending.com/clnewsor follow @GELendLease on Twitter.

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 (NYSE: GE) 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. For more information, visit ge.com.

GE Capital is Administrative Agent on a $150 Million Credit Facility to Support Combination of Golf Town and Golfsmith

Press release from GE:

30 August 2012

GE Capital is Administrative Agent on a $150 Million Credit Facility to Support Combination of Golf Town and Golfsmith

 

NORWALK, Conn.--30 August 2012-- GE Capital today announced it is serving as administrative agent on a $150 million senior secured credit facility to support the combination of Golf Town and Golfsmith. The combined business operates under the name Golfsmith International and creates the world's largest golf specialty retailer. The credit facility will be used to support working capital and to refinance existing debt. GE Capital Markets served as lead arranger and bookrunner on the transaction.

Golf Town, an OMERS Private Equity portfolio company, was founded in 1999 in Ontario, Canada and operates stores across Canada and the greater Boston area. Golfsmith, founded in 1967 and headquartered in Austin, Texas, began as a golf catalog business and now includes retail locations across the U.S. along with a significant online platform. The newly formed Golfsmith International will operate a combined 151 retail locations across the U.S. and Canada, as well as an e-commerce site.

"GE Capital structured the financing that will enable us to make this combination and our ongoing operations a success," said Sue Gove, president and chief operating officer of Golfsmith International. “Golfsmith International and OMERS Private Equity have both worked with GE Capital for years, and we are confident that we will benefit from their industry knowledge and understanding of our business goals.”

“The industry continues to be selective with mergers and acquisitions, but smart retailers are finding there are good opportunities available to accelerate growth,” said Jim Hogan, senior managing director of GE Capital, Corporate Retail Finance. “Bringing together our retail finance expertise with the sponsor finance experts at GE Antares meant we were able to quickly understand the needs on all sides of this transaction and structure financing accordingly.”

About GE Capital, Corporate Retail Finance

GE Capital, Corporate Retail Finance is a leading provider of senior secured loans to retailers, primarily in the U.S. and Canada, to support working capital, growth, acquisitions and more. With Access GE, clients also benefit from access to GE’s best practices. Visit gelending.com/clnews.

About GE Antares Capital

GE Antares 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. For more information, visit the GE Antares website at geantares.com.

About GE Capital

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 (NYSE: GE) 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. For more information, visit ge.com.

GE Capital, Franchise Finance Provides $45 Million Credit Facility to Raising Cane’s

Press release from GE:

21 August 2012

GE Capital, Franchise Finance Provides $45 Million Credit Facility to Raising Cane’s

 

Funds revolving line of credit and refinancing

SCOTTSDALE, Ariz.--21 August 2012-- GE Capital, Franchise Finance recently provided a $45 million senior secured credit facility to Raising Cane’s Chicken Fingers®, a Baton Rouge, La.-based restaurant chain. The facility refinances the company’s existing term loan and provides a revolving line of credit. A portion of the funding was provided through GE Capital bank affiliate, GE Capital Bank.

“We’ve been working with GE since 2003,” says Brad Sanders, chief business officer, fry cook, and cashier, Raising Cane’s. “Because of our relationship, they were able to create a more flexible deal structure which really set them apart.”

Todd Graves, the founder of Raising Cane’s, having received a C on the business plan in college, worked several jobs to save enough money to open the first restaurant in 1996 near the LSU campus

“Raising Cane’s has a great track record of success,” says Ryan Ruud, vice president, GE Capital, Franchise Finance. “We’re pleased to have supported the company during a nine year relationship, and are excited to put a new facility in place to support their next phase of growth.”

Raising Cane's was founded in 1996 and serves fresh, never frozen, chicken finger meals, including Texas toast, crinkle-cut fries, cole slaw, and Cane's sauce, through 131 restaurants in 16 states.

About GE Capital, Franchise Finance

GE Capital, Franchise Finance is a leading lender for the franchise finance market via direct sales and portfolio acquisition. With more than 30 years of experience and $10 billion in served assets, we serve over 3,000 customers and over 18,000 property locations. We specialize in financing mid-market operators with multiple stores in the restaurant and hospitality industries. Our team of industry experts will work with you to help develop your own growth plan with access to our proprietary industry research and customized tools. More information is available atwww.gefranchisefinance.com.

GE Capital is Administrative Agent for $350 Million Asset-Based Credit Facility to Shale-Inland

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27 March 2012

GE Capital is Administrative Agent for $350 Million Asset-Based Credit Facility to Shale-Inland

NORWALK, Conn.--27 March 2012-- GE Capital, Corporate Finance today announced it is administrative agent for a $350 million asset-based credit facility to Shale-Inland Holdings, LLC to support the acquisition of HD Supply Industrial PVF, a distributor of specialty pipe, valves and fittings. GE Capital Markets served as sole bookrunner and joint-lead arranger.

Based in Schiller Park, Ill., Shale-Inland is a leading industrial supplier of products used in refining, petrochemical production and the transportation of water, food, energy, and information to its end use. Through 47 locations in North America, Shale-Inland delivers a broad spectrum of metal, pipe, valves, films, or finished parts just-in-time.

“GE Capital has a firm understanding of the steel industry and a demonstrated ability to get deals done,” said Craig T. Bouchard, CEO of Shale-Inland. “Certainty of execution allows us to capitalize on growth opportunities and build our global business.”

“With a tradition of financing the American steel industry, GE continues its strong support of metals manufacturing and distribution,” said Tom Quindlen, President and CEO of GE Capital, Corporate Finance. “We specialize in providing capital to growing mid-size companies to fuel their business plans.”

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; 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 (NYSE: GE) 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. For more information, visit ge.com

GE Capital is Administrative Agent on $52 Million Cash Flow Credit Facility for Wanzl Group

26 March 2012

GE Capital is Administrative Agent on $52 Million Cash Flow Credit Facility for Wanzl Group

NORWALK, Conn.--26 March 2012-- GE Capital, Corporate Finance today announced it is an administrative agent in a $52 million U.S. and Canadian cash flow credit facility for Germany-based Wanzl Group, one of the world’s largest manufacturers of shopping carts.The loan will be used to support the acquisition of Cari-All Group, a leading manufacturer of shopping carts in North America. GE Capital Markets served as co-lead arranger and joint bookrunner.

Headquartered in Leipheim, Germany, Wanzl Group manufactures nearly two million shopping carts a year, and produces shelving, display and turnstile systems for food, fashion, and home wares retailers. Wanzl owns seven production facilities in Germany, France, the Czech Republic and China. Cari-All Group includes the Cari-All, Technibilt and Rondi brands and has manufacturing operations in Newton, North Carolina and Montreal, Canada.

“GE Capital used their deep expertise in manufacturing to navigate the nuances and complexities of this financing,” said Michael Marks, CEO of Cari-All Group and Board Member of Wanzl Group. “Working with us and our advisors, they provided the means to make this strategic acquisition and foster our growth plans.”

“Our industry specialization is built on years of experience financing middle-market companies,” said Tom Quindlen, president and CEO of GE Capital, Corporate Finance. “We focus on providing them with flexible financing and other business-building solutions.”

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 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 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 (NYSE: GE) 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. For more information, visit ge.com