This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

GE Capital Provides $66 Million Credit Facility To Van-Rob Inc.

GE Capital, Canada announced it served as administrative agent on a $66 million senior secured credit facility for Van-Rob Inc. (“Van-Rob”). Van-Rob, a leading global Tier One automotive parts manufacturer, will use the proceeds to refinance an existing term loan, support capital expenditure needs, provide working capital, and for other general corporate purposes. GE Capital, Canada also served as lead arranger of the lenders’ syndicate.

Founded in 1979 and headquartered in Aurora, Ontario, Van-Rob is a global industry leader in the design and manufacture of metal stampings, modular welded, structural welded and mechanical assemblies, and heat shields for thermal applications. It services the major automobile manufacturers from facilities located in Canada, the U.S., and Mexico.

“Through increased availability, this term credit facility will provide our company with additional flexibility to execute our strategic capital plan,” said Dennis Berry, president and CEO of Van-Rob. “We appreciate GE Capital’s confidence and support as we continue to implement our long-term growth strategies to position Van-Rob well for the future. We value having a lender that has automotive industry knowledge and the ability to support Van-Rob in the markets we serve.”

“We are pleased to provide financial support to Van-Rob in reaching their business goals,” said Peter Ringler, chief commercial officer of GE Capital, Canada. “We leverage our industry knowledge, expertise and financial capabilities in order to provide customers, such as Van-Rob, with customized and flexible credit facilities that help them concentrate on growing their businesses.”

About GE Capital, Canada

With 19 offices throughout Canada, GE Capital (gecapital.ca) offers a wide variety of financial products and services to address commercial financing and fleet management 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, restaurant and hotel franchise financing.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs