CHICAGO - October 20, 2014 - GE Capital today announced it is providing a $50 million credit facility to Bird Electric Enterprises, LLC (Bird Electric), a leading electrical services provider. The facility will be used for general working capital and to support a majority investment by 3.5.7.11, a private investment and acquisition firm.
Bird Electric is headquartered in Eastland, TX with additional facilities in Midland, Pecos and Snyder, Texas, as well as Hobbs and Carlsbad, New Mexico. The company specializes in providing low, medium and high voltage electrical services to major oil, gas and power companies operating across the Permian Basin in western Texas and southeastern New Mexico. Services include the design, construction, maintenance and restoration of power transmission and distribution infrastructure.
“GE Capital provided us with a flexible capital structure to fund our growth,” said Brian Bird, founder & CEO of Bird Electric. “GE understood our business goals and constructed a custom solution to help us achieve them, which ultimately benefits our customers.”
“GE Capital’s scale, domain expertise, and extensive energy industry resources will help us to grow,” said Dale LeFebvre, chairman of 3.5.7.11, a majority owner of Bird Electric. “They matched capital with ideas that will enhance Bird Electric’s continuing transformation and ever-better customer delivery. We look forward to working together in the years to come.”
“We focus on tailored capital solutions for mid-size companies like Bird Electric,” said Paul Feehan, senior managing director for GE Capital, Corporate Finance. “By combining industry and structuring expertise, we provide capital that fully supports their immediate and longer-term growth.”
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 expanding in North America, Asia and Europe. Financing supports working capital, growth, acquisitions, turnarounds and balance sheet optimization in key sectors: aerospace; automotive and transportation; chemicals and plastics; construction and building products, corporate aircraft; oil and gas; food and beverage; 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 geccf.com/newsroom or follow @GELendLease on Twitter.
GE Capital offers 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.
Tara Lambropoulos
GE Capital
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