Daily News: March 26, 2012

GE Capital Agents $52 Million Credit Facility for Wanzl Group


GE Capital, Corporate Finance announced it is an administrative agent in a $52 million U.S. and Canadian cash-flow credit facility for Germany-based Wanzl Group, a manufacturer of shopping carts. The loan will be used to support the acquisition of Cari-All Group, a manufacturer of shopping carts in North America. GE Capital Markets served as co-lead arranger and joint bookrunner.

Headquartered in Leipheim, Germany, Wanzl Group manufactures nearly two million shopping carts a year, and produces shelving, display and turnstile systems for food, fashion and home wares retailers. Wanzl owns seven production facilities in Germany, France, the Czech Republic and China. Cari-All Group includes the Cari-All, Technibilt and Rondi brands and has manufacturing operations in Newton, NC and Montreal, Canada.

“GE Capital used their deep expertise in manufacturing to navigate the nuances and complexities of this financing,” said Michael Marks, CEO of Cari-All Group and board member of Wanzl Group. “Working with us and our advisors, they provided the means to make this strategic acquisition and foster our growth plans.”

“Our industry specialization is built on years of experience financing middle-market companies,” said Tom Quindlen, president and CEO of GE Capital, Corporate Finance. “We focus on providing them with flexible financing and other business-building solutions.”

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