Daily News: April 8, 2015

GE Antares Agents Facility Backing Irving Place Buy

GE Antares is serving as administrative agent on a $138 million senior secured credit facility to support the acquisition of Bendon by Irving Place Capital (IPC). GE Capital Markets served as joint lead arranger and joint bookrunner on this facility.

“GE Antares’ willingness to underwrite the full commitment and their large hold position made them an excellent financing partner on this transaction,” said John Howard, CEO at IPC. “We continue to benefit from our relationships with the GE Antares team.”

“A proven market leader, Bendon is a welcome addition to the GE Antares portfolio,“ said Gina Provenzale, SVP of GE Antares.

“Bendon’s longstanding relationships with their customers and product innovation position them for continued growth, organically and through acquisitions. We look forward to supporting management and IPC going forward.”

Ashland, Ohio-based Bendon is a designer and producer of children’s coloring and activity products in the U.S.

New York City-based IPC is a middle-market private equity firm.