NORWALK, Conn.--(Business Wire)--
GE Capital, Corporate Finance today announced it is administrative agent on an
incremental $200 million credit facility to Waupaca Foundry, Inc. 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.
Headquartered in Waupaca, WI, Waupaca Foundry is one of the largest iron foundry
companies in the world. It produces gray and ductile iron castings for the
automotive, agriculture, construction and commercial-vehicle markets. The
company operates six manufacturing facilities located in Wisconsin, Indiana and
Tennessee. KPS Capital Partners, LP, a private equity firm with over $2.5
billion of assets under management, is the manager of the KPS Special Situations
Funds. KPS acquired Waupaca Foundry, Inc., at the time named ThyssenKrupp
Waupaca, Inc., in June 2012.
"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."
About GE Capital, Corporate Finance
GE Capital, Corporate Finance provides asset-based, cash flow and structured
loans and leases to mid-size and large U.S. businesses. Financing supports
working capital, growth, acquisitions, turnarounds and balance sheet
optimization in key sectors: Aerospace and defense; automotive and
transportation; chemicals and plastics; construction and building products,
corporate aircraft; energy; food and beverage; manufacturing; marine; metals and
mining; paper, packaging and forest products; retail; and technology and
electronics. With Access GE, clients also benefit from access to GE`s best
practices to help build their business. Visit gelending.com/clnews or follow
@GELendLease on Twitter.
GE Capital offers consumers and businesses around the globe an array of
financial products and services. For more information, visit gecapital.com or
follow company news via Twitter (@GECapital). GE (NYSE: GE) works on things that
matter. The best people and the best technologies taking on the toughest
challenges. Finding solutions in energy, health and home, transportation and
finance. For more information, visit ge.com.
GE Capital, Corporate Finance
Jeff Wilson, 203-749-6340
GE Capital, Americas
Ned Reynolds, 203-229-5717
Copyright Business Wire 2013