Over £10m of financing will allow companies to realise their full potential
London, 06 December, 2012: GE Capital today announces details of three recent deals that will see the company provide finance packages to support the development of ambitious businesses in the Midlands region. The company will provide a total of £10m of financing to allow the businesses to realise their full growth potential. Further details of the deals are included below.
Offshore Stainless
GE Capital will provide a £4.8m financing package to allow Offshore Stainless Supplies Limited to secure new business premises. The company, which currently employs 30 people and is based in Great Wyrley, is a stockholder, distributor and processor of specialist stainless steel to the offshore oil & gas, marine, transportation and automotive industries. It previously operated from a single leasehold site which they outgrew to the point where capacity was being restricted. As a result of the partnership with GE Capital, the company has been able to move to a larger and more modern freehold site located at Brownhills less than 3 miles away.
Oakley Fuels Limited
GE Capital will provide a £3.0m Invoice Discounting facility to Telford based Oakley Fuels Oil Limited, a distributer of fuel oils and lubricants. The package will allow the company to buy itself out from Total UK Ltd and continue to operate as an independent company.
Surepharm
GE Capital provided a working finance facility to support the management buy-out of Surepharm Services Limited, a licensed pharmaceutical contract manufacturer of medicinal tablets and powders, based in Burton upon Trent. The new management team will offer a depth of experience and skills to help drive the business forward and take advantage of the growth opportunities that have been identified.
Commenting on the deals, John Nelson, Commercial Lending Leader, GE Capital UK, said: "We're delighted to be working with businesses in the Midlands to help them meet their growth aspirations. The deals we have announced today all involve established business with successful track records and ambitious plans for the future, highlighting how successful businesses can flourish with the right support. We've been working closely with all three companies to ensure we provide them with the right solution to help them take the next step on their growth journeys."
Zoe Chambers Tom Steiner
[email protected]
GE Capital EMEA
[email protected]
+44-(0)-208-185-2494
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