NORWALK, CT--APRIL 4, 2007--GE Commercial Finance--Media, Communications & Entertainment (formerly Global Media & Communications) today announced it is the administrative agent and sole lender of a $30 million credit facility for Penn Foster, a portfolio company of the Wicks Group of Companies LLC, to support their acquisition of Education Direct, Inc. and Thompson Education Direct, Ltd. The GE business will also take an equity position by contributing $0.5 million to Penn Foster. The transaction closed on March 27.
Based in Scranton, Penn., Penn Foster is one of the largest and oldest distance education providers offering career diplomas, associate degrees and high...
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