GE Antares announced it is serving as administrative agent on a credit facility to support the acquisition of Gulfstream Services, Inc. by The Jordan Company, L.P., in partnership with the existing management team. GE Capital Markets served as joint lead arranger and joint bookrunner on this facility.
Headquartered in Houma, LA and founded in 1978 as Bayou Pump Rentals, Gulfstream Services, Inc. (GSI) is an oilfield rental tools & services company that specializes in pressure control equipment, cementing systems, wireline support and decommissioning equipment. Gulfstream provides equipment and services to exploration and production companies as well as major oilfield service companies in both the offshore and onshore markets.
“GE’s extensive expertise in the oil & gas industry and flexible financing structures made them the ideal lender on this transaction. Their ability to move quickly also helped us land a swift execution,” said Pete Suffredini, vice president at The Jordan Company.
“Gulfstream’s excellent market position and growth opportunities coupled with The Jordan Company’s track record of success made this an exciting financing opportunity for us,” said Laurent Paris, managing director of GE Antares. "We look forward to supporting management and The Jordan Company as they realize their growth.”
Gulfstream Services, Inc. (GSI) is a global corporation that consists of seven locations in the United States, Aberdeen, UK. GSI serves the US market from locations in Louisiana, Texas, Pennsylvania and Wyoming.
The Jordan Company founded in 1982, is a middle-market private equity firm that manages funds with original capital commitments in excess of $8 billion with a 32-year track record of investing in and contributing to the growth of many businesses across a wide range of industries.
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.