GE Antares Provides $140 Million Facility to Hilex Poly
GE Antares announced it is serving as administrative agent for a $140 million senior credit facility to support the acquisition of Hilex Poly Co. by Wind Point Partners. GE Capital Markets served as co-lead arranger and sole bookrunner on the transaction.
“GE Antares is committed to our business,” said Michael Nelson, managing director at Wind Point Partners. “They understand the way we work, have a proven track record of execution and deliver consistently in today’s unpredictable market. We appreciate their partnership in financing this transaction and their ability to commit in a tough economic environment.”
Hilex is a U.S-based company with headquarters in Hartsville, SC. It has nine strategically located manufacturing facilities and the largest closed loop plastic bag recycling plant located in the United States.
“We are pleased to provide financial support to Hilex Poly Co.,” said Dan Barry, senior managing director of GE Antares Capital. “Our relationship with both Hilex Poly Co. and Wind Point Partners demonstrates our support to help build and grow their businesses and our ability to provide leading middle market companies the financial support they need to create enterprise value.”
Hilex is a provider in manufacturing recycled plastic bags into retail “t-shirt” bags and is a producer of a variety of film products. Hilex creates its products through its closed loop recycling process and is involved in a number of green initiatives to increase the use of recycled content in all of its products.
Wind Point Partners is a private equity investment firm that partners with executives to acquire middle-market businesses where it can establish a path to value creation.