GE Capital Provides $150MM DIP Financing to Vertis
GE Capital, Restructuring Finance announced it is administrative agent on a $150 million debtor-in-possession (DIP) credit facility for Vertis Holdings, a marketing communications company. The loan will be used for working capital needs as the company continues operations under Chapter 11. GE Capital Markets served as lead arranger.
Based in Baltimore, MD, Vertis is a provider of targeted advertising and marketing solutions to leading retail and consumer services companies across North America. Their offerings include integrated data solutions, digital program management systems, creative services, print and mail production and logistics.
“GE Capital has been our lender for many years and we appreciate their ongoing support through both good and challenging times,” said Gerald Sokol, Jr., CEO of Vertis. “As we move towards a sale of our company to Quad/Graphics, Inc., GE’s expertise has helped to ensure a smooth transition, allowing us to continue to serve our clients.”
“We have a long history of guiding customers through the complexities of turnaround finance,” said Jim Hogan, senior managing director of GE Capital, Restructuring Finance. “This enables us to provide critical capital to middle-market businesses to meet their objectives.”