GE Provides $60 Million Senior Credit Facility to Leading Materials Science Testing Services Company
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NORWALK, Conn.--25 November 2008-- GE Capital's Global Sponsor Finance business today announced it served as administrative agent for a $60 million senior secured credit facility to support the acquisition of Evans Analytical Group by Odyssey Investment Partners, LLC.
Founded in 1978, and headquartered in Sunnyvale, CA, Evans Analytical Group is a leading materials science testing services company. EAG operates through two groups Surface Analysis, the world's largest provider of microanalytical surface testing and analysis, and Release to Production, which provides a range of testing and failure analysis services. The Company primarily serves the R&D departments of over 2,500 customers in a broad array of industrial end markets.
"Our team's flexibility in structuring the transaction in a very challenging market provided the right capital structure solution for EAG," said Diane Burton, Managing Director of GE Global Sponsor Finance. "We value our relationship with Odyssey and have worked with the firm to support both new investments and portfolio company matters for many years."
Jason Cowett, Vice President of Odyssey Investment Partners said, "We appreciate GE's responsiveness and successful execution on this financing, as well as their ongoing commitment to Odyssey. The GE team is very supportive of EAG and of the vision management has for continued growth and success of the Company."
About Odyssey Investment Partners, LLC
Odyssey Investment Partners, LLC, based in New York, is a leading middle-market private equity firm with more than $1.2 billion under management. Odyssey makes majority, control investments primarily in established middle-market companies in a variety of industries, including industrial manufacturing, business, financial and healthcare services, aerospace products, and localized and route-based service businesses. For further information about Odyssey, please visit www.odysseyinvestment.com.
About GE Global Sponsor Finance
With over $14 billionin assets, and offices in Boston, Chicago, Dallas, London, Los Angeles, New York, and San Francisco, GE Capital's Global Sponsor Finance business represents a "one-stop" source for the comprehensive range of GE's lending and other structured financial services offered to the private equity sponsor market, and is the top-ranked middle market PE lender through the first nine months of 2008. For more information, please visit www.gegsf.com. GE (NYSE: GE) is a diversified global infrastructure, finance and media company that is built to meet essential world needs. From energy, water, transportation and health to access to money and information, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com. GE is Imagination at Work.
PRESS CONTACTS
Ned Reynolds
+1 203 229 5717
+1 203 837 0699 (mobile)
ned.reynolds@ge.com
