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GE Facilitates Bendon Purchase by Irving Place Capital - Analyst Blog

GE Antares, an operating unit of the General Electric CompanyGE , recently facilitated the acquisition of Bendon, Inc. by privately-owned firm Irving Place Capital. The company served as an administrative agent on a senior secured credit facility worth $138 million, which was utilized to fund the acquisition.

Headquartered in Ashland, OH, Bendon offers children's coloring and activity products like kits, sets and play packs, puzzles and other early childhood development games. Since its inception in 2002, it has created a niche market with a broad portfolio of licensed and non-licensed products that are sold through over 80,000 points of distribution in North America.

Based in New York City, Irving Place Capital has operations across multiple industries, including retail and consumer, industrial and packaging companies. Over the years, it has invested in about 60 firms and raised over $4 billion of equity capital since its inception in 1997. The current acquisition of Bendon will further augment its retail operating platform.

General Electric, the parent company of GE Antares that financed the transaction, is one of the largest and most diversified technology and financial services corporations in the world. Its product and service portfolio ranges 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.

General Electric currently has a Zacks Rank #3 (Hold). Other notable companies in the industry include Icahn Enterprises, L.P. IEP , Carlisle Companies Incorporated CSL and Compass Diversified Holdings CODI , each carrying a Zacks Rank #2 (Buy).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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