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GE Antares Provides $138MM in Irving Place Capital Acquisition

April 08, 2015, 07:31 AM
Filed Under: Consumer Products

GE Antares is serving as administrative agent on a $138 million senior secured credit facility to support the acquisition of Bendon, Inc. by Irving Place Capital (IPC). GE Capital Markets served as joint lead arranger and joint bookrunner on this facility.

Established in 2002 and headquartered in Ashland, OH, Bendon is a leading provider of non-licensed and licensed children’s coloring and activity products. Bendon sells products such as coloring and activity books, kits, sets and play packs, puzzles and other early childhood development games.

“GE Antares’ willingness to underwrite the full commitment and their large hold position made them an excellent financing partner on this transaction,” said John Howard, CEO at IPC. “We continue to benefit from our relationships with the GE Antares team.”

“A proven market leader, Bendon is a welcome addition to the GE Antares portfolio,“ said Gina Provenzale, senior vice president of GE Antares. “Bendon’s longstanding relationships with their customers and product innovation position them for continued growth, organically and through acquisitions. We look forward to supporting management and IPC going forward.”

Based in New York City, IPC is a middle-market private equity firm that invests in buyouts, recapitalizations, and growth capital opportunities.

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