Daily News: May 10, 2013

GE Capital Agents $250MM Facility for Neenah Enterprises

GE Capital, Corporate Finance said it is serving as administrative agent on a $250 million senior secured credit facility for Neenah Enterprises, an iron castings manufacturer. The loan is being used to refinance existing debt and to support ongoing working capital needs. GE Capital Markets served as lead arranger.

Founded in 1872 and based in Neenah WI, Neenah Enterprises produces metal castings and steel forgings and provides a variety of auxiliary services such as machining, painting and heat treatment, serving municipalities and industrial companies.

“GE Capital continues to deliver the financing we need to grow our business,” said Tom Adrians, CFO for Neenah Enterprises. “We value having a lender that has deep metals industry knowledge and experience.”

“We have worked closely with Neenah Enterprises over the past few years, so we understand their business and their goals,” said Paul Feehan, senior managing director, metals and mining at GE Capital, Corporate Finance. “We specialize in providing capital to help build middle-market metals companies and support their business objectives.”