Daily News: August 16, 2012

GE Antares Capital Provides $85MM Credit Facility to Kele


GE Antares, a unit of GE Capital, said it served as administrative agent on an $85 million senior credit facility for Kele, a portfolio investment of CHS Capital. The financing supported a dividend recapitalization. GE Capital Markets served as sole lead arranger and bookrunner on the transaction.

“GE Capital committed to and placed the facility with its strategic investor relationships, limiting the need for syndication and allowing us to move quickly to closing,” said David Hawkins, partner at CHS Capital. “In addition, our relationship with GE Antares and their deep understanding of our business helped us close this transaction efficiently and successfully.”

Headquartered in Memphis, TN, Kele is a supplier of peripheral control products and services to the building automation industry.

Tim Vargo, president and CEO of Kele, said, “The growth of Kele requires a lender who understands our business and our goals. GE Capital has this understanding and we look forward to working with them as we continue to grow and expand our market reach.”

“We are pleased to provide this financing to support the growth of Kele with CHS Capital,” said Brian Polomsky, senior vice president at GE Antares Capital. “Working with our strategic investor relationships we were able to provide the entire facility. We look forward to leveraging these relationships to continue delivering financing solutions for CHS Capital, Kele and other middle-market leaders.”