Ares, GE finance Trainline deal with £265m debt package
Following KKR’s purchase of Trainline from previous backers Exponent Private Equity, Ares Management and GE Capital have provided a £265m senior loan to fund the deal.
Ares and GE provided the loan via their joint venture, the European Loan Programme.
The financing package comprises a £205m senior loan and a £60m revolving credit facility. Ares previously backed Exponent's £190m refinancing of Trainline in 2013.
Trainline was sold to KKR in January, despite announcing its intention to list at the start of the year.
Founded in 1999, Trainline sells rail tickets online through the thetrainline.com website. The company also operates retail websites for train operators. In addition, Trainline works with corporates and travel agents. The business reported EBITDA of £21m in 2014.
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