GE Capital, Corporate Finance, Norwalk, Conn., is administrative agent on a $75-million asset-based credit facility for Acme Lift Company, LLC, Mesa, Ariz., a leading wholesale renter of aerial work platforms and lifting equipment.
Acme will use the loan to refinance debt and support future growth. GE Capital Markets served is sole bookrunner.
Founded in 1997 by Woody Weld, Acme Lift provides equipment to more than 900 rental companies in the United States and Canada, who in turn rent equipment to commercial, industrial, and specialty construction firms. Acme is one of the world’s largest strictly wholesale rental companies, with an extensive fleet of boom lifts, telehandlers and truck-mounted cranes.
“GE Capital brought extensive industry knowledge and creative structuring concepts to the deal,” said Steve Nadelman, Acme president and chief operating officer. “Their deep understanding of our business model enabled them to deliver a financing solution that will help build our business.”
“We’re committed to providing capital and market insight to our customers,” said Bob McCarrick, chief commercial officer, lending for GE Capital, Corporate Finance. “Leveraging GE’s insight and industry experience in the rental equipment marketplace allowed us to develop tailored financing options that support the growth of mid-size businesses.”
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