GE Antares Leads Credit Facility for RathGibson Acquisition
07/06/2007 - GE Antares closes a transaction as administrative agent for an $80-million senior secured facility for the acquisition of RathGibson by DLJ Merchant Banking Partners.
GE Antares has closed a transaction as administrative agent for an $80-million senior secured facility to support the acquisition of RathGibson Inc. by DLJ Merchant Banking Partners.
Headquartered in Janesville, Wis., RathGibson is a leading specialty processor of highly engineered premium steel and alloy precision welded tubular products. It also supplies engineered stainless steel, nickel, and titanium tubing to a diverse range of global markets.
“RathGibson’s technical leadership, extensive product portfolio, and global channel strength have contributed to the company’s success as a global market leader in virtually all of its end-markets,” said Dan Glickman, Managing Director of GE Antares. “We are pleased to support DLJ Merchant Banking Partners, as well as the outstanding management team at RathGibson.”
RathGibson has manufacturing facilities in Janesville, Wis., Clarksville, Ark., and North Branch, N.J., as well as sales offices in Houston, Texas, and Shanghai, China. RathGibson’s diverse and long-standing customer base spans 30 countries.
DLJ Merchant Banking Partners (DLJMB) is a leading private equity investor that has a 21-year record of investing in leveraged buyouts and related transactions across a broad range of industries. With offices in New York, London and Los Angeles, DLJMB is part of Credit Suisse's Alternative Investments business, one of the largest alternative asset managers in the world, with more than $122 billion of assets under management.
GE Antares Capital is a unit of GE Commercial Finance — Global Sponsor Finance. With over $8 billion in assets, and offices in Chicago, London, Los Angeles, New York, and San Francisco, GE Antares offers a “one-stop” source for GE’s lending and other services offered to middle-market private-equity sponsors.
Headquartered in Norwalk, Conn., GE Commercial Finance, adiversified technology, media and financial services company, has assets of over $233 billion. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide.
