GE Capital, Corporate Finance today announced it is co-collateral agent and documentation agent for a $225 million asset-based loan for 84 Lumber Company, one of the nation’s leading privately-held building materials and services suppliers to professional contractors and build-it-yourselfers. The loan will be used to refinance existing debt and for working capital purposes.
Founded in 1956 and headquartered in Eighty Four, Pennsylvania, 84 Lumber owns and operates 250 stores, component plants, door shops, installation centers and engineered wood product shops in 30 states. 84 Lumber also provides construction services for residential and commercial customers, offering material and labor packages for the installation of framing, roofing, windows and doors, insulation and drywall, and more.
“GE Capital worked closely with us to help structure a deal that met our specific goals and provided fresh capital into our bank group,” said Paul Lentz, CFO of 84 Lumber Company. “Their structuring expertise, industry know-how and ability to understand and grow with 84 Lumber are qualities we need in a lender to help us succeed.”
“We work to develop customized financing packages that are tailored to our customers’ particular needs,” said Tom Quindlen, president and CEO of GE Capital, Corporate Finance. “Our experience in the building products industry allows us to best provide companies with specialized, business-building capital."About GE Capital, Corporate Finance GE Capital, Corporate Finance 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, beverage and agribusiness; 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. Visit gelending.com/clnews. 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 (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. For more information, visit ge.com.
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