GE Capital, an operating unit of
General Electric Company
), recently closed an inventory and working capital financing
credit facility worth $40 million for ASI System Integration,
Inc. The debt financing will be executed by the Commercial
Distribution Finance business of GE Capital. The transaction will
likely enhance the liquidity of ASI System and facilitate the
working capital requirements to fuel further growth.
With over three decades of industry experience, ASI System is a
premier independent provider of IT (information technology)
services and solutions for diverse industries in North America.
The company offers a plethora of IT services such as consulting,
systems design, integration, lifecycle sourcing, asset sale, and
IT workforce staffing.
ASI System leverages its experience and industry-best practices
to help companies plan, design, implement, and support a fully
optimized data center for performance at peak service levels. In
order to drive further growth, ASI System seeks to grow both
organically and inorganically through acquisitions of companies
that complement its product offerings. The debt financing by
General Electric is expected to go a long way on this initiative.
At the same time, the inventory and working capital financing
will enable ASI System to address the cash conversion cycle to
further develop its business.
General Electric is one of the largest and the most diversified
technology and financial services corporations in the world,
competing with industry bigwigs such as
Koninklijke KPN N.V.
Jardine Strategic Holdings Ltd.
), each carrying a Zacks Rank #1 (Strong Buy), and
China Merchants Holdings (International) Company
) that carries a Zacks Rank #2 (Buy). 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, it
serves customers in more than 100 countries across the world.
Its segments include Power & Water, Oil & Gas, Energy
Management, Aviation, Healthcare, Transportation, Home &
Business Solutions, and GE Capital. With more than 30 years of
experience serving the IT industry, GE Capital, Commercial
Distribution Finance possesses an in-depth industry know-how and
expertise. General Electric currently has a Zacks Rank #3
CHINA MERCHANTS (CMHHY): Get Free Report
GENL ELECTRIC (GE): Free Stock Analysis
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