GE Antares Backs Greenbriar Buy of EDAC
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GE Antares Backs Greenbriar Buy of EDAC

GE Antares served as administrative agent for an $89.5 million senior credit facility to support Greenbriar Equity Group’s acquisition of EDAC Technologies Corporation, a designer, manufacturer and servicer of precision components for aerospace and industrial applications. GE Capital Markets acted as joint lead arranger and sole bookrunner.

“We view GE Antares as an excellent choice to lead our debt financing for EDAC Technologies,” said Rob Wolf, director at Greenbriar Equity. “GE Antares has a great understanding of the debt financing markets, ensuring superior execution, and through their Access GE program they can help us tap into GE’s deep knowledge and experience in the aerospace market.”

EDAC Technologies Corporation is a diversified manufacturing company serving the aerospace and industrial markets. In the aerospace sector, EDAC offers design and manufacturing services for commercial and military aircraft, in such areas as jet engine parts, special tooling, equipment, gauges and components used in the manufacture, assembly and inspection of jet engines. Industrial applications include high-precision fixtures, gauges, dies and molds, as well as the design, manufacture and repair of precision grinders and precision spindles. The company is based in Cheshire, CT (www.edactechnologies.com).

“We’re excited to be leading another financing for Greenbriar Equity and starting a relationship with EDAC Technologies,” said Douglas Cannaliato, managing director at GE Antares. “Greenbriar Equity has extensive aviation industry expertise resulting from their exclusive focus on the global transportation industry which we are confident will provide real value to EDAC Technologies’ already strong and experienced management team.”

GE Antares is a unit of GE Capital with offices in Atlanta, Chicago, Los Angeles, New York, and San Francisco. Specializing in the middle market, GE Antares is a “one-stop” source for GE’s lending and other services to middle market private equity sponsors (www.geantares.com).

Greenbriar Equity Group invests from $50 million to $150 million per transaction in the global transportation industry, including companies in aerospace & defense, automotive, freight & passenger transport, logistics & distribution, and related sectors. The firm manages $1.5 billion of committed capital and is based in Rye, NY (www.greenbriarequity.com).

© 2013 PEPD • Private Equity’s Leading News Magazine • 5-20-13

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