GE will provide a full Asset Based Lending facility worth £6m
London, 8th June, 2012: GE Capital today announces that it has provided a £6m financing package to B3 International Ltd, a sub-contract producer of personal care products including shower gels and hand washes.
The Preston based company, which manufactures own label products for major supermarket chains and high street stores, was recently purchased by Dutch company, Royal Sanders, who operate in the same market.
GE Capital has provided a range of financing facilities to B3 International Ltd, including invoice discounting, inventory finance and a plant and machinery loan. The deal replaces a previous financing facility that the company had in place with another commercial finance provider.
John Savage, Regional Manager, GE Capital UK, commented: "We're delighted to be working with B3 International to provide a full Asset Based Lending facility. The package we have agreed will give B3 access to increased levels of finance compared to their previous arrangement, allowing them to grow and develop their business further and faster."
Denis Duggan, Finance Director, B3 International Ltd, commented: "We were looking for a partner who could provide us with the right financing facility to help us move our business forward. We were impressed with the package GE Capital put together for us and their strong brand and financial stability gave us added confidence in working with them."
Ends
For further information please contact:
Zoe Chambers Rachel Griffiths
GE Capital H+K Strategies
Direct: +44 (0) 20 8754 2217 Direct: +44 (0) 20 7973 4456
[email protected] [email protected]
Zoe Chambers Michael Goodbody
[email protected]
GE Capital EMEA
[email protected]
+44-207-302-6269
+44-7899-808-239
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