PRZOOM - /newswire/ -
Norwalk, CT, United States, 2012/03/26 - GE Capital, Corporate Finance today announced it is an administrative agent in a $52 million U.S. and Canadian cash flow credit facility for Germany-based Wanzl Group, one of the world’s largest manufacturers of shopping carts (NYSE: GE). NYSE: GE
The loan will be used to support the acquisition of Cari-All Group, a leading manufacturer of shopping carts in North America. GE Capital Markets served as co-lead arranger and joint bookrunner.
Headquartered in Leipheim, Germany, Wanzl Group manufactures nearly two million shopping carts a year, and produces shelving, display and turnstile systems for food, fashion, and home wares retailers. Wanzl owns seven production facilities in Germany, France, the Czech Republic and China. Cari-All Group includes the Cari-All, Technibilt and Rondi brands and has manufacturing operations in Newton, North Carolina and Montreal, Canada.
“GE Capital used their deep expertise in manufacturing to navigate the nuances and complexities of this financing,” said Michael Marks, CEO of Cari-All Group and Board Member of Wanzl Group. “Working with us and our advisors, they provided the means to make this strategic acquisition and foster our growth plans.”
“Our industry specialization is built on years of experience financing middle-market companies,” said Tom Quindlen, president and CEO of GE Capital, Corporate Finance. “We focus on providing them with flexible financing and other business-building solutions.”
About GE Capital, Corporate Finance
GE Capital, Corporate Finance (gelending.com/clnews) provides asset-based, cash flow and structured loans and leases to mid-size and large U.S. businesses. Financing supports working capital, growth, acquisitions, turnarounds and balance sheet optimization in key sectors: Aerospace and defense; automotive and transportation; chemicals and plastics; construction and building products, corporate aircraft; financial and business services; food and beverage; manufacturing; marine; metals and mining; paper, packaging and forest products; retail; and technology and electronics. With Access GE, clients also benefit from access to GE’s best practices to help build their business.
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit gecapital.com or follow company news via Twitter (@GECapital). GE (ge.com) 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.
Ned Reynolds, GE Capital Americas
P: +1 203 229 5717 / M: +1 203 837 0699 - E: ned.reynolds[.]ge.com.