Asset based lender GE Capital has provided two
new large funding lines to UK companies. Consumer electronics group
Armour Group Plc is getting a £18 million line of finance to
support the company’s future growth plans.
The deal consists of confidential invoice
discounting, inventory and trade finance. GE Capital is expected to
provide up to £81 million a year of working capital to Armour, in
volume terms, over the first year.
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Armour chief executive George Dexter expects
the funding to support the company’s growth plans. He said: “The
funding provided by GE Capital presents us with the opportunity to
remain attractive to our customers and to maintain our competitive
advantage. GE Capital’s approach to this deal demonstrated their
comprehensive understanding of our
business.”
Separately, GE Capital UK is providing spring
manufacturer Hanson Springs a £4.1 million line of finance. The
financing facility – which includes invoice discounting and
inventory finance – will be used to help grow the business, and
assist with ongoing working capital.
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