Toronto - GE Capital, Canada announced today that it has increased Van-Rob Inc. senior secured credit facility to $91 million. GE Capital, Canada served as lead arranger and administrative agent. The proceeds of the facility will be used for general working capital purposes.
Founded in 1979 and headquartered in Aurora, ON, Van-Rob is a Tier 1 automotive parts manufacturer of large structural assemblies, chassis components and crash energy management systems. It services the major automobile manufacturers from facilities located in Canada, the U.S. and Mexico.
”The continued support from GE Capital through this credit facility will enable us to continue the execution of our strategic growth plans,” said Ken Gibbons, Chief Financial Officer of Van-Rob. “We appreciate working with a lender who understands the automotive manufacturing sector.”
“We are looking forward to helping Van-Rob grow across North America with this additional financing,” said David Sutherland, Vice President, GE Capital, Canada. “Our experience in the automotive sector along with our flexible financing solutions will help us to support their short and long-term growth goals.”
About GE Capital, Canada
With 17 offices throughout Canada, GE Capital offers a wide variety of financial products and services to address commercial financing needs in many phases of a business' lifecycle. From equipment finance to working capital and growth financing to large asset-based and restructuring loans, we apply our wealth of industry expertise to develop custom solutions for your company. Some of the industries in which we specialize include transportation, construction, manufacturing, aerospace, automotive, mining, energy, wholesale, retail and restaurant and hotel franchise financing. To stay up-to-date on commercial lending and leasing activities in Canada, please follow twitter.com/GECapitalCA.
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (http://twitter.com/GECapital).
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