GE Antares, a unit of GE Capital, announced today it is serving as
administrative agent on a $145.6 million senior secured credit facility
to support the acquisition of Lazer Spot, Inc. by Greenbriar Equity
Group. GE Capital Markets served as co-lead arranger and co-bookrunner
on this facility.
Founded in 1996 and headquartered in Atlanta, Lazer Spot is a leader in
a comprehensive range of outsourced yard management services including
trailer spotting and shuttling. Lazer Spot operates 260 sites for more
than 80 blue chip customers across the consumer packaged goods, food and
beverage, pulp and paper, retail and other industrial sectors.
“Certainty of execution and speed are attributes we trust GE Antares to
deliver and this transaction was no different,” said Jill Raker,
managing partner at Greenbriar. “Their familiarity with Lazer Spot and
track record of supporting management’s growth plans made them an ideal
financing partner. We look forward to continuing our relationship with
GE Antares.”
“Since becoming part of our portfolio in 2010, we’ve watched Lazer Spot
expand and exceed expectations,” said Doug Cannaliato, managing director
of GE Antares. “We’re pleased to lead their senior debt financing and
provide a minority equity investment to Greenbriar in support of their
acquisition. We look forward to continuing to support Lazer Spot’s
passionate management team as they grow.”
About Lazer Spot
Lazer Spot, Inc. is the largest independent provider of comprehensive
yard management services and solutions in the U.S., managing the
movement of trailers at high volume distribution centers and
manufacturing facilities. It also provides trailer shuttle services
through company-provided tractors and drivers. The company serves a
diverse customer base nationally including many of the world’s largest
consumer products companies. To learn more about Lazer Spot, please
visit www.lazerspot.com.
About Greenbriar Equity Group
Greenbriar Equity Group LLC, a private equity firm with over $2.5
billion of committed capital, focuses exclusively on the global
transportation industry, including companies in logistics and
distribution, aerospace and air transport, automotive, industrial
equipment and components, MRO, surface transport and other related
sectors. Greenbriar invests with proven management teams who are
interested in being significant equity owners in their companies as well
as with corporate partners who are interested in raising capital.
Greenbriar’s partners bring many decades of experience at the highest
levels within the transportation industry. Additional information may be
found at www.greenbriarequity.com.
About GE Antares Capital
GE Antares is a unit of GE Capital. With offices in Atlanta, Chicago,
Los Angeles, Toronto, New York, and San Francisco, GE Antares is a
leading middle market lender, offering a “one-stop” source for GE’s
lending and other services offered to middle market private equity
sponsors. GE Antares was recognized by Private Debt Investor and Private
Equity International as 2013 Lender of the Year, North America and
Mid-Cap Lender of the Year, North America, respectively. For more
information, visit geantares.com.
GE Capital offers consumers and businesses around the globe an array of
financial products and services. For more information, visit www.gecapital.com
or follow company news via Twitter (https://twitter.com/GECapital).
GE (NYSE:GE) works on things that matter. The best people and the best
technologies taking on the toughest challenges. Finding solutions in
energy, health and home, transportation and finance. Building, powering,
moving and curing the world. Not just imagining. Doing. GE works. For
more information, visit the company's website at www.ge.com
Copyright Business Wire 2015