GE Antares announced it is serving as administrative agent on a $145.6 million senior secured credit facility to support the acquisition of Lazer Spot by Greenbriar Equity Group. GE Capital Markets served as co-lead arranger and co-bookrunner on this facility.
Founded in 1996 and headquartered in Atlanta, Lazer Spot is a provider of outsourced yard management services including trailer spotting and shuttling. Lazer Spot operates 260 sites for more than 80 blue chip customers across the consumer packaged goods, food and beverage, pulp and paper, retail and other industrial sectors.
“Certainty of execution and speed are attributes we trust GE Antares to deliver and this transaction was no different,” said Jill Raker, managing partner at Greenbriar. “Their familiarity with Lazer Spot and track record of supporting management’s growth plans made them an ideal financing partner. We look forward to continuing our relationship with GE Antares.”
“Since becoming part of our portfolio in 2010, we’ve watched Lazer Spot expand and exceed expectations,” said Doug Cannaliato, managing director of GE Antares. “We’re pleased to lead their senior debt financing and provide a minority equity investment to Greenbriar in support of their acquisition. We look forward to continuing to support Lazer Spot’s passionate management team as they grow.”