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Agents Sign On To Kranson

14 Jul 2004

Scotia Capital, Antares Capital and GE Capital have signed on as agents for the $170 million facility backing AEA Investors’ acquisition of Kranson Industries.

Scotia Capital, Antares Capital and GE Capital have signed on as agents for the $170 million facility backing AEA Investors’ acquisition of Kranson Industries. The credit, which hit the market this afternoon, comprises a six-year, $30 million revolver and seven-year, $140 million term loan. Price talk is LIBOR plus 2 3/4% on the revolver and LIBOR plus 3% on the term loan. UBS is leading the facility.
 
Code Hennessy & Simmons is currently the majority owner of Kranson. Other owners reportedly are Goldman Sachs, GE, Antares and management. Kranson supplies rigid packaging components and services. UBS bankers and Tom Pryma, a partner with AEA, declined comment and Neil Tzinberg, Kranson’s cfo, did not return calls.
14 Jul 2004

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