East Hampton, Mass. dealership financed with $4.9 million
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Ed Lemco, long-time icon in the motorcycle industry, and his business partner Aaron Patrick have acquired an East Hampton, Mass., Harley-Davidson dealership with $4.9 million in financing from GE Capital Solutions, Franchise Finance.
"This deal allows us to take advantage of the next frontier in Harley-Davidson motorcycle sales," says Lemco. "The funding from GE Capital Solutions, Franchise Finance is helping us achieve our goal on the retail side of this business. It's advantageous to have a relationship with a lender that understands the powersports business so thoroughly."
For Lemco, it's a natural extension of his highly regarded expertise consulting for the motorcycle dealership industry.
"Any time you acquire a dealership, it is critical to have a knowledgeable lender involved in the negotiating process," says Lemco. "GE Capital Solutions, Franchise Finance is a very professional lender, well-versed in the nuances of the motorcycle industry, and valued expertise throughout the entire process. We couldn't be happier with the services they've provided."
As the motorcycle industry --- particularly Harley-Davidson --- transposes into a more mature business model, the opportunities associated with the franchise are changing as well. An upcoming Harley-Davidson acquisition seminar slated for today and tomorrow in Denver and hosted by Lemco features various presenters on emerging opportunities in the business. GE Capital Solutions, Franchise Finance is represented by Cliff Kraushaar, vice president.
"I am looking forward to participating in the seminar," says Kraushaar. "It's exciting to be a part of something Ed is spearheading. His expertise in the industry is invaluable not only for those looking to sell or buy a franchise, but also for our company. We continually strive to update our knowledge on trends within the industry so that we can serve our customers at the highest level possible."
Kraushaar's seminar topic covers acquisition strategies, contracting and financing structures, funding options, and lending requirements.
Additional information including the complete agenda and details about registration for the conference can be access online at www.edlemco.com.
About GE Capital Solutions, Franchise Finance
GE Capital Solutions, Franchise Finance is a leading lender for the franchise finance market via direct sales and portfolio acquisition. With more than 20 years of experience and $11 billion in served assets, we serve more than 6,000 customers and more than 20,000 property locations, primarily in the restaurant, hospitality, branded beverage, power sports, and automotive after-market industries. We offer customers access to capital with a menu of products featuring flexible structuring, including financing for acquisitions, refinancing, construction of new units, and remodels for single- and multi-unit operators/chains. More information is available at www.gefranchisefinance.com or by calling toll-free 866-GET-GEFF (438-4333).
GE Capital Solutions provides leasing, lending, and capital investment products and services to help business customers grow. It has more than $90 billion in assets, serves more than a million clients around the world, and is headquartered in Danbury, Connecticut, USA. For more on GE Capital Solutions, go to www.ge.com/capitalsolutions.
GE (NYSE: GE) is Imagination at Work --- a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.