GE Capital, Corporate Finance, an operating unit of
General Electric Company
), recently provided $22.5 million equipment financing to
privately-held marine equipment supplier Laborde Marine. The debt
financing will be utilized by Laborde Marine for its working
capital requirements to fuel further growth.
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Based in New Orleans, LA, Laborde Marine primarily offers marine
support to the offshore oil and gas industry. Founded in 1995,
the company operates over 20 vessels ranging from 260' DP-2
platform support vessels, 210' DP-1 equivalent platform support
vessels and DP-2, DP-1 and conventional crew boats in the U. S.
Gulf of Mexico.
Laborde Marine will utilize the funds to refinance its existing
debt that was used to purchase five new crew boats. Moving
forward, Laborde Marine expects to benefit from General
Electric's industry insight to consolidate its business and
further expand its fleet and customer base.
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. GE Capital, Corporate Finance
provides asset-based, cash flow and structured loans to support
the working capital requirements of mid-size and large firms. The
company focuses on key sectors such as aerospace and defense;
automotive and transportation; chemicals and plastics;
construction and building products, corporate aircraft; energy;
food and beverage; manufacturing; marine; metals and mining;
paper, packaging and forest products; retail; and technology and
General Electric currently has a Zacks Rank #3 (Hold). Other
companies in the industry that are worth mentioning include
Tyco International Ltd.
Hutchison Whampoa Ltd
), both having a Zacks Rank #2 (Buy), and
) that retains a Zacks Rank #1 (Strong Buy).