Daily News: June 10, 2014

GE Antares Agents $107MM McLarens Facility

GE Antares announced it served as administrative agent on a $107 million multi-currency, cross-border credit facility to McLarens Global Limited. The transaction refinanced the company’s senior debt, repaid its subordinated debt and provided flexibility for future acquisitions. GE Capital Markets served as lead arranger and joint bookrunner on this facility.

“This financing strengthens our financial position in order to grow, both here in the U.S. and abroad,” said Toby Skelton, chief financial officer of McLarens. “We continue to benefit from our relationships with the GE team.”

Headquartered in Atlanta, GA, McLarens performs claims management, loss adjusting, pre-risk and damage surveying, and auditing services for companies throughout the world.

“I’m pleased GE Capital was able to deliver its cross-border capabilities and expertise on a complex transaction for McLarens and its private equity owner, Altamont Capital Partners,” said James Kenefick, senior managing director of GE Antares, “We look forward to working with McLarens as the company continues to grow.”

“We’re pleased to have the opportunity to work with our colleagues in the U.S. on closing this transaction for McLarens,” said Howard Sharp, head of U.K. originations and sponsor coverage of GE Capital. “By partnering together, we are able to meet the global needs of our sponsors and their portfolio companies.”