OREANDA-NEWS.    GE Antares, a unit of GE Capital, announced today it served as administrative agent on a USD 555 million senior secured credit facility to support the acquisition of Duro Bag Manufacturing Company by Hilex Poly Company , a portfolio company of Wind Point Partners. GE Capital Markets served as joint lead arranger and joint bookrunner on this facility.

Headquartered in Kentucky, Duro Bag is one of the leading providers of innovative point-of-purchase paper bags to key markets throughout the United States such as food service, specialty retail, grocery, and mass merchant. The combined company will provide over 3,000 manufacturing jobs in the U.S. and more than 600 in Canada and Mexico.

“GE Antares was an ideal financing partner to help join these two companies,” said Alex Washington, managing director of Wind Point Partners. “The GE Antares team’s swift execution on this transaction allowed us to meet our strategic financing needs.”

“We have long supported Hilex, and are excited to once again be part of its growth goals,” said Mike Hynes, a managing director of GE Antares. "This is a great opportunity for the company to diversify and we look forward to their continued success.”