GE Capital Canada, the Canadian subsidiary of
General Electric Company
), recently served as the administrative agent for a $66
million-worth senior secured credit facility for Van-Rob Inc. The
debt financing will augment Van-Rob's liquidity and working
capital requirements to fuel further growth.
Since its inception in 1979, Van-Rob has evolved as a premier
designer and manufacturer of automotive parts for leading global
players in the industry such as
General Motors Company
Ford Motor Co.
). Headquartered in Aurora, Ontario, the company's product
portfolio includes metal stampings, modular and structural welded
assemblies, mechanical assemblies and heat shields for thermal
applications in vehicles.
Van-Rob is likely to utilize the credit facility to refinance its
existing term loan to reduce interest costs. In addition, the
debt financing also increases its financial flexibility and
supports its capital expenditures to remain competitive in the
industry with continuous research and development initiatives.
General Electric is one of the largest and the most diversified
technology and financial services corporations in the world. With
products and services ranging from aircraft engines, power
generation, water processing, and security technology to medical
imaging, business and consumer financing, media content, and
industrial products, the company serves over 100 million
Its segments include Power & Water, Oil & Gas, Energy
Management, Aviation, Healthcare, Transportation, Home &
Business Solutions, and GE Capital. With 19 offices across the
country, GE Capital Canada works diligently to meet the diverse
commercial financing and fleet management requirements of varied
industries such as automotive, transportation, construction,
manufacturing, aerospace, mining, energy, wholesale, retail, and
General Electric currently has a Zacks Rank #3 (Hold).
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