CHICAGO--(BUSINESS WIRE)--GE Antares, a unit of GE Capital, announced today it is serving as administrative agent on a senior secured credit facility to support the acquisition of Grakon Holdings, LLC by Industrial Growth Partners. GE Capital Markets served as lead arranger and bookrunner on this facility.
Headquartered in Seattle, Washington, Grakon is a global designer and manufacturer of custom interior and exterior lighting, and complex engineered and assembled molded trim components for the heavy truck and specialty transportation markets.
“IGP enjoys a highly valued financing and operational relationship with GE Antares. Their collaborative approach, expertise and speed-to-close made them an excellent financing partner,” said Jeff Webb, managing director at IGP.
"We are thrilled to partner with IGP on another successful acquisition," said Mary Gaede, managing director, GE Antares. "IGP is a great fit for Grakon and its management team. Together they will enable Grakon to continue to expand the business, and we look forward to helping finance this growth."
About Grakon Holdings, LLC
Grakon is the North American leader in supplying customized lighting solutions to the OEM truck segment, and the company has a meaningful and growing presence in Europe and Asia. In addition to its Seattle headquarters, Grakon has additional operations in Farmington Hills, Michigan, Helmond, Netherlands and Dongguan, China. For more information, visit www.grakon.com.
About Industrial Growth Partners (IGP)
Founded in 1997, IGP is a specialist private equity firm focused exclusively in the industrial sector. With $1.4 billion of equity capital raised since inception, IGP invests in manufacturing and industrial services companies in the lower-middle market. The firm’s unique sector expertise and long history of investment experience enable it to provide significant strategic and operational support to its portfolio companies. For more information, visit www.igpequity.com.
About GE Antares Capital
GE Antares 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. For more information, visit geantares.com.
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (https://twitter.com/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.