GE Antares Provides $35 Million Senior Credit Facility for Leading Developer and Producer of Audio Accessories for the Automotive Aftermarket
CHICAGO--GE Antares today announced it is serving as administrative agent for a $35 million senior secured credit facility to support the acquisition of AAMP of America by Audax Group.
The financing consists of a $10 million senior secured revolving credit facility, and $25 million of senior secured term loan facilities. Audax used the proceeds of the transaction to acquire AAMP as well as to fund its future working capital needs and for other general corporate purposes.
Headquartered in Clearwater, Florida, AAMP is the leading designer, manufacturer, and distributor of audio accessories and consumer electronics integration devices to the automotive aftermarket. AAMP develops and markets products under the Stinger, Peripheral, and Best Kits brands to over 3,300 independent car audio specialist retailers, as well as through mass retail chains and international distributors.
“AAMP has industry leading brands and is led by a strong management team,” said John Goodwin, Senior Vice President of GE Antares. “Audax Group has a well established relationship with GE Antares and we are pleased to be able to lead this financing to support Audax and AAMP.”
About Audax Group
Audax Group, founded in 1999, is a leading investor in middle market companies. With offices in Boston and New York, Audax manages in excess of $2.4 billion in equity and mezzanine debt capital. For more information, visit the Audax Group website www.audaxgroup.com.
About GE Antares Capital
GE Antares Capital is a unit of GE Commercial Finance - Global Sponsor Finance. With over $8 billion in assets, and offices in Chicago, London, Los Angeles, New York, and San Francisco, GE Antares offers a “one-stop” source for GE’s lending and other services offered to middle market private equity sponsors. Visit www.geantares.com.
About GE Commercial Finance
GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over $206 billion and is headquartered in Norwalk, Connecticut. GE is Imagination at Work – a diversified technology, media and financial services company focused on solving some of the world’s toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customer in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit www.ge.com.
