GE Antares, a unit of GE Capital, announced today it is serving as administrative agent on a $60 million senior secured credit facility to support the acquisition of Tidel Engineering, L.P. by an affiliate of Graham Partners. GE Capital Markets served as joint lead arranger and joint bookrunner on this facility.
Founded in 1978, Tidel is a leading provider of cash management systems and security products for convenience stores, specialty retailers, grocery stores and quick-service restaurants. Tidel provides solutions that deliver enhanced efficiency, cost savings and security throughout the retail cash management ecosystem.
“GE Antares comes to the table with flexible, workable financing structures plus a high certainty of execution,” said Rob Newbold, managing principal at Graham Partners. “We enjoy a great relationship with GE Antares and look forward to working together again in the future.”
“Graham’s operational heritage and industrial expertise combined with Tidel’s accomplished management team will pave the way for new growth in the U.S. and abroad,” said Brian Polomsky, managing director of GE Antares. "We are excited to support this acquisition and look forward to supporting management and Graham as they pioneer innovative solutions.”
Headquartered outside of Dallas, TX, Tidel is a leading provider of cash management solutions that empower retail institutions across the globe to better manage their daily cash operations, reduce risk, and increase profits. Since 1978, customers have relied on Tidel to provide the most innovative and reliable solutions that help secure, optimize, and streamline their cash environment. For more information, visit www.tidel.com.
Headquartered outside of Philadelphia, PA, Graham Partners is a private investment firm focused on investing in businesses with proprietary technologies, advanced manufacturing expertise, innovative product development capabilities, and strong growth potential. Since the firm’s founding in 1988, Graham Partners has closed over sixty acquisitions, joint ventures, financings, and divestures.
GE Antares is a unit of GE Capital. With offices in Atlanta, Chicago, Los Angeles, New York, and San Francisco, GE Antares is the 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.