GE Antares, a unit of General Electric Company’s (GE - Free Report) GE Capital, recently served as an administrative agent on a $265 million senior credit facility to Calera Capital for its acquisition of United Site Services (USS). GE Antares will provide debt and equity financing to Calera Capital. The credit facility should facilitate the operating and strategic initiatives of Calera Capital to fuel its growth strategy.
United Site Services provides site solutions, which include quality portable restrooms, VIP restrooms, shower trailers, temporary fencing and temporary power to sites requiring non-permanent arrangement in the construction, event, industrial and government market sectors.
Calera Capital is a private investment firm involved in a diverse range of industries such as business services, consumer and retail, financial services, healthcare, building products, and industrial manufacturing. The company has turned to GE Capital financing to support its inorganic growth plans.
General Electric, the parent company, is one of the largest and the most diversified technology and financial services corporations in the world. 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 industrial products. Its segments include Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Home & Business Solutions and GE Capital. GE Antares is GE Capital's leading middle market financing unit.
General Electric currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth investment include CLARCOR Inc (CLC - Free Report) , ITT Corporation. (ITT - Free Report) and Federal Signal Corp (FSS - Free Report) , each carrying a Zacks Rank #2 (Buy).