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GE Capital Selected as Inventory Financing Provider for Logicalis, Inc. - $30 million facility for IT integrator enhances cash flow and credit capacity (NYSE: GE) - Logicalis.com / GECDF.com
GE Capital Selected as Inventory Financing Provider for Logicalis, Inc.

 

NewswireToday - /newswire/ - Chicago, IL, United States, 2012/08/13 - $30 million facility for IT integrator enhances cash flow and credit capacity (NYSE: GE) - Logicalis.com / GECDF.com . NYSE: GE

   
 
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GE Capital’s Commercial Distribution Finance (CDF) business today announced a new $30 million inventory finance program with Logicalis, Inc. The new supplier facility enables Logicalis to finance inventory purchases from specific original equipment manufacturers (OEMs), and provides extended interest-free repayment terms that will enhance the company’s cash flow and credit capacity.

Logicalis is an international IT solutions and managed services provider based in Farmington Hills, MI.

The company will also gain access to COMS, CDF’s online inventory management tool, and to proprietary industry insights and analytics through a dedicated team of CDF IT industry experts who will work closely with the company.

“CDF’s understanding of our industry and flexible financing terms make it the ideal lender,” said Todd Yaekle, vice president of finance with Logicalis. “The expertise and the credit line provided by CDF will help us achieve our growth goals.”

“This program was customized to meet Logicalis’ specific needs and support its growth plans,” said David Laurence, vice president and sales director of CDF’s technology finance unit. “CDF has been supporting the IT industry for more than 30 years and is well positioned to help Logicalis succeed.”

About Logicalis, Inc.

Logicalis is an international IT solutions and managed services provider with a breadth of knowledge and expertise in communications and collaboration; data center and cloud services; and managed services. Logicalis employs almost 3,000 people worldwide, including highly trained service specialists who design, specify, deploy and manage complex Information and communication technology (ICT) infrastructures to meet the needs of over 6,000 corporate and public sector customers.

The Logicalis Group is a division of Datatec Ltd., listed on the Johannesburg and London AIM Stock Exchanges, with revenues of over $5 billion.

For more information, visit us.logicalis.com/.

About GE Capital, Commercial Distribution Finance

GE Capital, Commercial Distribution Finance (gecdf.com) provided nearly $32 billion in financing for more than 30,000 manufacturers, dealers and distributors across North America in 2011. Programs include inventory and accounts receivable financing, asset-based lending, private label financing, collateral management and related financial products. Customers have access to exclusive online tools and analytics to manage their accounts and inventory. Follow company news via Twitter (@GEInventoryFin).

GE Capital (gecapital.com) offers consumers and businesses around the globe an array of financial products and services. 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. Building, powering, moving and curing the world. Not just imagining. Doing. GE works.

 
 
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Written by / Agency / Source: General Electric Company

 
 

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GE Capital Selected as Inventory Financing Provider for Logicalis, Inc.

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GE News Center | Logicalis Group
Publisher Contact: Lisa Tibbitts - GE Capital Americas 
203-956-4582 / 203-803-6142 (mobile) lisa.tibbitts[.]ge.com
 
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