CHS Capital and Gundle/SLT Environmental, Inc. Complete Refinancing
CHS Capital and Gundle/SLT Environmental, Inc. (GSE) have completed a refinancing and amendment of GSE's credit facilities. GSE is a portfolio company of Code Hennessy & Simmons IV LP, a $1.0 billion investment fund formed in 1999.
Headquartered in Houston, Texas, GSE is a leading designer and manufacturer of geosynthetic lining solutions used in the containment and management of solids, liquids and gases for organizations engaged in waste management, mining, liquid containment, aquaculture, agriculture and other industrial activities. For additional information about GSE, please visit the company’s website at
CHS and GSE worked with Jefferies and GE Capital to complete a refinancing of the company’s existing debt, including its 11% senior notes due in May 2012 and its ABL revolver. The refinancing will extend GSE's debt maturities and provide additional growth capacity through a new $135 million first lien term loan, a $40 million second lien term loan, and a $25 million revolver. Total interest expense was reduced by nearly $3 million per year.
CHS Capital is a Chicago-based private equity firm with 23 years of experience investing in the middle market. Targeting well-managed companies with enterprise values between $75 - $500 million, CHS partners with management teams to focus on accelerating growth, enhancing capabilities and resources and positioning companies for attractive exits. CHS has specialized expertise in the Consumer & Business Services; Distribution; and Industrial, Infrastructure & Energy sectors and has completed 74 platform investments and 252 add-on investments. Founded in 1988, CHS has formed five private equity funds and has $2.3 billion of committed capital in active investment funds. For additional information about CHS Capital, please refer to the firm’s website at