CHICAGO - Commercial Distribution Finance (CDF), a division of GE Capital, announced today that it has provided international IT solutions and managed services provider Logicalis US with $53 million in short term accounts receivable (STAR) funding. Logicalis used the STAR facility to fund a purchase order for a major contract.
STAR is a purchase order funding solution that provides solution providers with additional credit capacity beyond traditional credit lines.
Headquartered in New York City, Logicalis is an international IT solutions and managed services provider with expertise in communications and collaboration, data center and cloud services, and managed services. Logicalis has been a CDF customer since 2012.
“There was great collaboration on arranging this funding,” said Todd Yaekle, VP, Finance, Logicalis US. “CDF’s understanding of our industry and business model makes it much easier for us to effectively support our customers.”
“We worked closely with Logicalis on this funding to ensure it would meet their goals and timeline,” said David Laurence, senior vice president of the technology group at CDF. “We are committed to helping our customers compete with a variety of financial solutions.”
About Commercial Distribution Finance
Commercial Distribution Finance (CDF) provided $46 billion in financing for more than 40,000 dealers and more than 2,000 distributors and manufacturers globally in 2014. CDF operates in 60 countries and provides inventory financing solutions, service and intelligence through in-depth industry expertise and commitment. Programs include inventory and accounts receivable financing, asset-based lending, private label financing, collateral management, and related financial products. For more information, visit gecdf.com or follow company news via Twitter (GEInventoryFin).
GE (NYSE: GE) imagines things others don’t, builds things others can’t and delivers outcomes that make the world work better. GE brings together the physical and digital worlds in ways no other company can. In its labs and factories and on the ground with customers, GE is inventing the next industrial era to move, power, build and cure the world. www.ge.com
Logicalis is an international IT solutions and managed services provider with a breadth of knowledge and expertise in communications and collaboration; data center and cloud services; and managed services.
Logicalis employs over 4,000 people worldwide, including highly trained service specialists who design, deploy and manage complex IT infrastructures to meet the needs of over 6,500 corporate and public sector customers. To achieve this, Logicalis maintains strong partnerships with technology leaders such as Cisco, HP, IBM, EMC, NetApp, Microsoft, VMware and ServiceNow on an international basis. It has specialized solutions for enterprise and medium-sized companies in vertical markets covering financial services, TMT (telecommunications, media and technology), education, healthcare, retail, government, manufacturing and professional services, helping customers benefit from cutting-edge technologies in a cost-effective way.
The Logicalis Group has annualized revenues of over $1.5 billion, from operations in Europe, North America, Latin America and Asia Pacific, and is one of the leading IT and communications solution integrators specializing in the areas of advanced technologies and services.
The Logicalis Group is a division of Datatec Limited, listed on the Johannesburg and London AIM Stock Exchanges, with revenues of over $6 billion.
For more information, visit www.us.logicalis.com.