GE Antares Backs Riverside’s Buy of AWP

GE Antares Backs Riverside’s Buy of AWP

ge cap nf1GE Antares was the administrative agent on a $124 million senior secured credit facility to support the acquisition of Area Wide Protective by The Riverside Company from Blue Point Capital Partners.  GE Capital Markets served as joint lead arranger and joint bookrunner on this facility.

Earlier this month, GE reached an agreement to sell its US Sponsor Finance business and a $3 billion loan portfolio to Canada Pension Plan Investment Board (CPPIB) in a transaction valued at approximately $12 billion.  The Sponsor Finance business is principally made up of Antares Capital – GE Capital’s lending business to private equity-backed middle market companies.  After the closing, the business will operate as Antares Capital.

Area Wide Protective (AWP) helps direct or re-route traffic in support of construction, repair, or maintenance projects affecting public roads.  AWP provides on-site technicians, equipment and vehicles, in addition to permitting and design services.  The company has a variety of customers but mainly serves utilities, utility contractors, and telecommunications companies.  AWP has more than 1,800 employees and a fleet of nearly 900 trucks and works out of 43 locations in 17 states throughout the Midwest, East, and Southeast.  The company is headquartered near Akron in Kent, OH (

chris jones nf1“We have a long-standing relationship with the team at GE Antares and are happy to have worked with them on this transaction. Their industry expertise and certainty of execution makes them an ideal financing partner,” said Chris Jones, partner of The Riverside Company.

GE Antares is a unit of GE Capital and has offices in Atlanta, Chicago, Los Angeles, Toronto, 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 (

The Riverside Company is a global private equity firm focused on investing in and acquiring growing businesses valued at up to $300 million (€200 million in Europe). Since its founding in 1988, Riverside has invested in more than 380 transactions. The firm’s international portfolio includes more than 80 companies. Riverside is headquartered in New York with additional offices in Atlanta, Chicago, Cleveland, Dallas, Los Angeles, San Francisco, and London (

© 2015 PEPD • Private Equity’s Leading News Magazine • 6-22-15

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