GE Antares Backs Glencoe’s Latest Add-on
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GE Antares Backs Glencoe’s Latest Add-on

ge antares nf1GE Antares Capital was the administrative agent on a $95 million senior secured credit facility used to refinance the senior debt of Dialog Direct, a Glencoe Capital’s portfolio company, and to provide financing to for the company to acquire Allegra Direct Communications.

jason duzan nf1“GE Antares is a reliable and trusted debt provider to our firm. They were responsive and constructive from early due diligence through final documentation,” said Jason Duzan, managing director at Glencoe Capital.

In January of 2014, Glencoe formed Dialog Direct through the combination of four Glencoe marketing services and customer care portfolio companies: NOVO 1, Budco, South Shore Venture Enterprises and Dialogue Marketing.  Today, Dialog Direct provides sales and marketing support services including direct marketing, creative, customer service and sales, inside sales, order fulfillment, eCommerce and data analytics. The company has more than 5,000 employees across 16 locations and is headquartered in the Detroit suburb of Highland Park (www.dialog-direct.com).

The latest addition to Dialog Direct, Allegra Direct Communications, is a customer care provider for health insurance companies based near Detroit in Clinton Township, MI (www.allegra-direct.com).

kevin fitzgerald nf1“GE Antares is excited to support Glencoe Capital on this transaction,” said Kevin Fitzgerald, vice president of GE Antares. “Dialog Direct has proven itself to be a strong company and continues to bring employment opportunities to the state of Michigan. Both Glencoe and Dialog Direct are valuable clients to us and we look forward to supporting them both going forward.”

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).

Glencoe Capital makes acquisitions and growth equity investments in lower-middle market companies that have EBITDAs between $3 million and $15 million. The firm has completed over 45 acquisitions, representing over $ 1.6 billion in transaction value. The firm currently manages three funds: the Glencoe Capital Michigan Opportunities Fund, Glencoe Capital Partners III, and Glencoe Capital Partners II. Founded in 1993, Glencoe Capital has offices in Chicago and in the Detroit suburb of Birmingham (www.glencap.com).

2014 PEPD • Private Equity’s Leading News Magazine • 10-22-14

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