GE Commits Millions to Support a Seaport Capital Acquisition

GE Commercial Finance’s Global Media & Communications business on Tuesday announced it has closed, as administrative agent, a $68,750,000 senior secured-credit facility in support of Seaport Capital’s acquisition of Everest Connections, a local cable, Internet and phone provider with more than 34,000 subscribers in the greater Kansas City, Mo., metropolitan area.

The acquisition gives Everest Connections access to a deeper pool of capital that will enable it to grow its customer base and overall footprint, GE said. The deal brings GE to more than $1.6 billion in total capital committed to companies within the sector, the company added.

“The longstanding relationship and positive history we have with Seaport Capital enabled the completion of this deal,” said Mark Bernier, senior vice president at GE Global Media & Communications. “GE is one of the largest lenders to the cable industry in the country and we’re pleased to be part of a transaction that allows Everest to extend its network and deepen its marketing and customer sales initiatives.”

GE Commercial Finance www.gecapitalfinance.com

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