GE Capital is Administrative Agent of $485 Million Credit Facility to Waupaca Foundry Holdings for Acquisition of ThyssenKrupp Waupaca
NORWALK, Conn.--(BUSINESS WIRE)-- GE Capital, Corporate Finance today announced it served as administrative agent of a $485 million senior secured credit facility to Waupaca Foundry Holdings, Inc. The financing was used to support the acquisition of ThyssenKrupp Waupaca, Inc. by KPS Capital Partners, LP. GE Capital Markets structured the transaction and served as co-lead arranger and joint bookrunner.
Headquartered in Waupaca, WI, ThyssenKrupp Waupaca is one of the largest iron foundry companies in the world and produces gray and ductile iron castings for the transportation, agriculture, construction and commercial-vehicle markets. The company operates six manufacturing facilities, located in WI, IN, and TN. KPS Capital Partners, LP is the manager of the KPS Special Situations Funds, a family of private equity funds with more than $2.8 billion of assets under management.
We have worked closely with GE Capital for the past 15 years, said David Shapiro, managing partner at KPS Capital Partners. GEs deep experience in the automotive, general industrial and metals industries was vital in completing the financing that backed this acquisition.
GE and KPS have a long history of supporting growth in American manufacturing, said Tom Quindlen, president and CEO of GE Capital, Corporate Finance. Our combined industry experience means smarter capital that helps build better middle-market businesses.
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; financial and business services; food and beverage; manufacturing; marine; metals and mining; paper, packaging and forest products; retail; and technology and electronics. Funding maybe provided through GE Capital, Corporate Finances affiliate, GE Capital Financial Inc., member FDIC. With Access GE, clients also benefit from access to GEs best practices to help build their business. Visit gelending.com/clnews.
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
Source: GE CapitalCopyright Business Wire 2012