Daily News: July 24, 2012

GE Antares Provides $405MM Credit Facility to Tank Holdings


GE Antares, a unit of GE Capital, announced it served as administrative agent on a $405 million senior credit facility to support the acquisition of Tank Holdings by Leonard Green & Partners. GE Capital Markets served as lead left arranger and joint bookrunner on the transaction.

Jointly headquartered in Lincoln, NE and St. Bonifacius, MN, Tank Holdings is a manufacturer of proprietary rotational molded polyethylene and steel storage tanks and containers used in above ground, below ground and portable applications.

“GE Antares has a deep understanding of Tank’s business,” said Usama Cortas, principal at Leonard Green & Partners “They have grown with the company, delivering tailored financial solutions that meet the needs of the business today and in the future. Their insight and industry knowledge was vital to the success of this acquisition.”

“We have developed a strong relationship with Leonard Green over many years and our history with Tank Holdings goes back to the late eighties,” said James Kenefick, senior managing director of GE Antares. “We are pleased to have these long-standing relationships and look forward to continuing to grow with both Tank Holdings and Leonard Green & Partners in the future.”

Tank has diversified product offering and specializes in agricultural, industrial, intermediate bulk containers, material handling and water/waste product lines.