Daily News: February 19, 2013

GE Capital Agents $200 Million Increase for Waupaca Foundry


GE Capital, Corporate Finance announced it served as administrative agent on an incremental $200 million credit facility to Waupaca Foundry. The funds were used to support a dividend recapitalization. GE Capital Markets served as lead arranger for the transaction.

GE Capital has been a lender to the company since serving as administrative agent on a $485 million acquisition financing announced in June 2012.

Waupaca, WI-based Waupaca Foundry is an iron foundry company that produces gray and ductile iron castings for the automotive, agriculture, construction and commercial-vehicle markets.

“GE Capital specializes in providing business-building capital to middle-market companies,” said David Shapiro, managing partner at KPS Capital Partners. “As Waupaca Foundry continues to grow, it’s critical we have a lender who can support the company and adapt financing structures to match its growth profile.”

“With deep automotive, manufacturing and metals expertise, we were able to quickly provide Waupaca Foundry with additional financing,” said Tom Quindlen, president and CEO of GE Capital, Corporate Finance. “Working closely with customers to provide growth capital as they evolve is our specialty.”

GE Capital, Corporate Finance provides asset-based, cash-flow and structured loans and leases to mid-size and large U.S. businesses.

Previously on abfjournal.com:

GE Capital Arranges Recap of KPS Capital’s Waupaca Foundry, Thursday, February 07, 2013