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).
GE (NYSE:GE) works on things that matter. The best people and the best
technologies taking on the toughest challenges. Finding solutions in
energy, health and home, transportation and finance. Building, powering,
moving and curing the world. Not just imagining. Doing. GE works. For
more information, visit the company's website at www.ge.com.
Copyright Business Wire 2014