GE Capital Provides $2.7 Billion in TMT Financing in First Half of 2013
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GE Capital Provides $2.7 Billion in TMT Financing in First Half of 2013

ge cap nfGE Capital’s Telecom, Media and Technology (TMT) financing business has completed more than 30 transactions totaling $2.7 billion in financing during the first half of 2013.

GE Capital’s Telecom, Media and Technology provides financing to the cable, data centers, towers, metro fiber, TV, radio, digital media and software sectors.

“GE Capital has a long history with and strong relationships across the telecom, media and technology markets,” said Pete Foley, senior managing director of GE Capital’s Telecom, Media and Technology team. “This depth of coverage allowed us to deliver a strong first half, providing financial and intellectual capital to help our customers meet their business goals.”

Among transactions completed in the first half of 2013 were:

Roadnet Technologies
GE Capital served as administrative agent on a $65 million credit facility for Roadnet Technologies, a portfolio company of Thoma Bravo, in the second quarter of 2013. GE Capital Markets served as joint lead arranger and sole bookrunner on the transaction. Roadnet Technologies is a provider of integrated Transportation Management Systems. The company’s products enable organizations to reduce transportation expenses and enhance customer service. Roadnet is based in Towson, MD (www.roadnet.com).

“GE’s renewed focus on technology and experience in the space positioned them as a good choice to lead this transaction,” said Holden Spaht of Thoma Bravo. “They were able to structure a deal that met our goals and held a meaningful portion of the facility. We were pleased to be able to work with a lender that knows the industry, understands our company and has the private equity experience.”

Tech Valley Communications
In July, GE Capital was sole lead arranger on a $45 million credit facility for Tech Valley Communications (TVC), a portfolio company of Riverside Partners. TVC provides fiber optic data, voice, and high-speed internet services to enterprise, carrier and wholesale customers in Upstate New York and Northern New England. The company is headquartered in Albany, NY (www.techvalleycom.com).

“The new credit facility helped us fund the recent acquisition of the TelJet Longhaul fiber network in Vermont as well as accelerate our expansion plans,” said Kevin O’Connor, chief executive officer and co-founder of Tech Valley Communications. “It was great to have GE work with us on this financing as they are knowledgeable in our sector and have a close working relationship with Riverside Partners.”

Entravision
GE Capital led a $405 million credit facility for Entravision communications, a diversified Spanish-language media company. Entravision utilizes its television, radio and digital assets to reach Latino consumers across the United States and the border markets of Mexico. Entravision is headquartered in Santa Monica, CA (www.entravision.com).

Greater Media
In the first quarter, GE Capital served as co-syndication agent on a $160 million credit facility for Greater Media, a family-owned media company that operates 21 radio stations as well as communications towers in several states. Greater Media is based in Braintree, MA (www.greatermedia.com). GE Capital Markets served as joint lead arranger on the transaction.

“Greater Media has grown from a single market to one of America’s top independent radio groups,” said Peter Smyth, chairman and chief executive officer of Greater Media. “GE’s expertise in the media sector has made them a truly valued financial resource as we continue to grow our business. Their industry knowledge and experiences in our market allows them to deliver solid financing solutions that help us meet our business and capital needs.”

GE Capital’s Telecom, Media and Technology business provides financing to enable corporate growth, acquisitions and balance sheet refinancings to companies in the following industries: cable, towers, data centers, wireless, metro fiber, radio, TV, digital media, education services and software. It also finances technology companies that enable these industries (www.gecapital.com/tmt).

© 2013 PEPD • Private Equity’s Leading News Magazine • 8-22-13

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