GE Capital Provides $75 Million Asset-Based Credit Facility for Acme Lift Company, LLC

Press release:

07 September 2012

GE Capital Provides $75 Million Asset-Based Credit Facility for Acme Lift Company, LLC

 

NORWALK, Conn.--07 September 2012-- GE Capital, Corporate Finance today announced it is administrative agent on a $75 million asset-based credit facility for Acme Lift Company, LLC, a leading wholesale rental company for aerial work platform equipment. The loan will be used to refinance existing debt and support future growth. GE Capital Markets served as sole bookrunner.

Based in Arizona and founded in 1997 by Woody Weld, Acme Lift Company provides equipment to more than 900 rental companies in the United States and Canada, who in turn rent equipment to commercial, industrial and specialty construction firms. Acme is one of the world’s largest strictly wholesale rental companies, with an extensive fleet of boom lifts, telehandlers and truck-mounted cranes.

“GE Capital brought extensive industry knowledge and creative structuring concepts to the deal,” said Steve Nadelman, president and chief operating officer of Acme Lift Company. “Their deep understanding of our business model enabled them to deliver a financing solution that will help build our business.”

“We’re committed to providing capital and market insight to our customers,” said Bob McCarrick, chief commercial officer, lending for GE Capital, Corporate Finance. “Leveraging GE’s insight and industry experience in the rental equipment marketplace allowed us to develop tailored financing options that support the growth of mid-size businesses.”

About GE Capital, Corporate Finance

GE Capital, Corporate Finance provides asset-based, cash flow and structured loans and leases to mid-size and large U.S. businesses. Financing supports working capital, growth, acquisitions, turnarounds and balance sheet optimization in key sectors: Aerospace and defense; automotive and transportation; chemicals and plastics; construction and building products, corporate aircraft; energy; food and beverage; manufacturing; marine; metals and mining; paper, packaging and forest products; retail; and technology and electronics. Funding may be provided through GE Capital, Corporate Finance’s affiliate, GE Capital Bank, member FDIC. With Access GE, clients also benefit from access to GE’s best practices to help build their business. Visit gelending.com/clnewsor follow@GELendLease on Twitter.

GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit gecapital.com or follow company news via Twitter (@GECapital). GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. For more information, visit ge.com.

News Release from GE Capital

14 March 2012

GE Capital Provides $40 Million Credit Facility for IT Reseller Redapt, Inc.

 

HOFFMAN ESTATES, IL – GE Capital’s Commercial Distribution Finance (CDF) business today announced that it will provide $40 million in inventory financing and working capital to Redapt, Inc., a data center infrastructure solutions provider and hardware reseller based in Redmond, WA.

This new program allows Redapt to acquire capital to meet the needs of its growing business. Redapt is a value-added reseller that delivers data center solutions ranging from private and hybrid cloud infrastructure to turn-key rack integration to basic product fulfillment. Inventory financing is an important element of a successful value-added reseller (VAR) business model. CDF has been supporting the IT industry for more than 30 years.

"GE Capital was able to provide credit capacity and structure while allowing us to maintain our current bank relationships," said Rick Cantu, CEO, president and co-founder of Redapt. "We now have the ability to execute our continued growth with the strength and backing of a strong finance company."

"GE Capital is pleased to work with Redapt and its vendors, such as Dell, to provide the working capital financing necessary to meet the needs of its customers," said David Laurence, vice president and sales director of CDF’s technology finance unit.　

About Redapt, Inc.

Redapt, Inc., a minority-owned company established in 1996, delivers data center IT solutions that fit the business needs of each customer. Redapt was awarded Dell’s Partner of the Year acknowledgement in 2010 and 2011, and was recognized as one of "Washington’s 100 Fasting- Growing Private Companies" by Puget Sound Business Journal. For more information on Redapt, Inc., visit www.redapt.com or call 425-882-0400.