Daily News: May 1, 2012

GE Antares Capital Agents $175MM Facility for Tensar

Tensar Corporation announced the closure of a restructured $175 million credit facility with a group of lenders agented by GE Antares Capital. The proceeds from the financing will provide Tensar the financial stability to focus on achieving its long-term revenue and profit growth objectives.

As a result of this restructuring, PineBridge and American Capital will join forces with Arcapita as sponsors of the company.

“We are pleased to finalize this facility and are confident that with this funding and the continued support of our existing investors, Tensar is well-positioned for future financial success,” stated Don Meltzer, Tensar president & CEO. “We remain focused on growing and innovating to continuously improve our product offerings for our customers.”

Navigant Capital Advisors served as the financial advisor for the restructuring.

Tensar is a developer and provider of proprietary products and engineering services used primarily in transportation, commercial and industrial construction, with strong cash flows and significant growth opportunities.