NORWALK, Conn.--(BUSINESS WIRE)--GE Commercial Finance Corporate Lending today announced it has provided a $150 million asset-based credit facility to Esmark, Inc., a steel service center headquartered in Chicago Heights, IL. Esmark will use the financing for working capital needs and to refinance existing debt. GE Capital Markets served as co-lead arranger for the transaction.
Founded in 2003, Esmark provides value-added cold rolled and coated steel products to clients throughout the Midwest U.S.
"GE's in-depth knowledge of our industry adds a wealth of metals expertise to the Esmark bank group," said Craig T. Bouchard, co-founder and president of Esmark, Inc. "Through their understanding of the market and our financial needs, they tailored financing that allows us to maximize flexibility and liquidity to help support and grow our business."
"Industry specialization allows us to work more closely with clients to deliver smarter capital to help foster their business plans," said Greg Eck, metals and mining industry leader for GE Corporate Lending. "With more than $3.5 billion invested in the metals and mining industry, GE is focused on better understanding and meeting the financing needs of companies in the sector."
Industry Specialization
To better meet the unique financing needs of customers, GE Corporate Lending has a team of Industry Leaders supported by dedicated research analysts. These industry experts work closely with GE Corporate Lending's regional teams to build customized financing solutions for companies across key industries: Aerospace & Defense; Automotive & Automotive Parts; Chemicals & Plastics; Construction; Food, Beverage & Agribusiness; Financial & Business Services; Forest Products; General Manufacturing; Steel, Metals and Mining; Technology and Electronics; and Transportation.
About GE Corporate Lending
With $14 billion in assets, GE Commercial Finance Corporate Lending is one of North America's largest providers of asset-based, cash flow, structured finance and other capital solutions for mid-size and large companies. From over 30 offices throughout the U.S. and Canada, GE Corporate Lending specializes in serving the unique needs of borrowers seeking $20 million to $2 billion and more for working capital, growth, acquisitions, project finance and turnarounds. Visit www.gelending.com/clnews for more information.
About GE Commercial Finance
GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over $233 billion and is headquartered in Norwalk, Connecticut. 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. GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit www.ge.com.
Contacts GE Corporate Lending, Norwalk
Jeff Wilson, 203-229-1887
[email protected]
or
GE Commercial Finance, Norwalk
Ned Reynolds, 203-229-5717
[email protected]
Britta Kons
GE Healthcare Global Services
[email protected]
1-203-400-1892