GE Capital Closes on $225 Million Asset-Based Loan for 84 Lumber Company
April 13 2012 - 8:00AM
Business Wire
GE Capital, Corporate Finance today announced it is
co-collateral agent and documentation agent for a $225 million
asset-based loan for 84 Lumber Company, one of the nation’s leading
privately-held building materials and services suppliers to
professional contractors and build-it-yourselfers. The loan will be
used to refinance existing debt and for working capital
purposes.
Founded in 1956 and headquartered in Eighty Four, Pennsylvania,
84 Lumber owns and operates 250 stores, component plants, door
shops, installation centers and engineered wood product shops in 30
states. 84 Lumber also provides construction services for
residential and commercial customers, offering material and labor
packages for the installation of framing, roofing, windows and
doors, insulation and drywall, and more.
“GE Capital worked closely with us to help structure a deal that
met our specific goals and provided fresh capital into our bank
group,” said Paul Lentz, CFO of 84 Lumber Company. “Their
structuring expertise, industry know-how and ability to understand
and grow with 84 Lumber are qualities we need in a lender to help
us succeed.”
“We work to develop customized financing packages that are
tailored to our customers’ particular needs,” said Tom Quindlen,
president and CEO of GE Capital, Corporate Finance. “Our experience
in the building products industry allows us to best provide
companies with specialized, business-building capital."
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; financial and business services; food, beverage
and agribusiness; manufacturing; marine; metals and mining; paper,
packaging and forest products; retail; and technology and
electronics. With Access GE, clients also benefit from access to
GE’s best practices to help build their business. Visit
gelending.com/clnews.
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
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Finding solutions in energy, health and home, transportation and
finance. For more information, visit ge.com.
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