GE Antares Provides $98-Million Senior Credit Facility for Purchase

GE Antares Capital announced it is the agent for a $98-million senior credit facility to support the acquisition of Dimensions Unlimited, L.P. by Airpax Corp., LLC, a portfolio company of Chicago Growth Partners ("CGP"). GE Capital Markets served as the sole lead arranger for the credit facility.

The financing consists of an $83-million term loan and a $15-million revolving credit facility. Airpax's strategic acquisition of Dimensions Unlimited will enable the company to strengthen its market position in the specialty electronics marketplace by adding a complimentary product line and increasing its customer breadth.

Dimensions Unlimited offers a complete line of inverters capable of powering virtually any type of equipment within their power rating. Dimensions' units can be found in a variety of applications including utility/service trucks; scissor lifts; traffic signal, home, and business Power Backup Systems; steel mills; railroad locomotives; and the family RV.

"We have worked with CPG for several years. CGP knows how quickly and reliably GE Antares can deliver add-on acquisition financings for portfolio companies," said Eric Hansen, Managing Director of GE Antares Capital. "Our in-depth knowledge of the company allowed for a very flexible financing package to finance their acquisition of Dimensions Unlimited."

Rob Healy, a Partner at CGP, said: "GE Antares demonstrated that industry knowledge equates into flexible and creative financing. Their responsiveness and flexibility were precisely what we needed for the acquisition of Dimensions Unlimited. We hope to continue to grow with both Airpax and GE Antares in the years ahead."