GE Capital, Canada served as administrative agent and sole lender on a $13 million credit facility to Canam Group, a steel components fabricator.
“We’ve completed more than $130 million in transactions during our decade-long relationship, and we’re pleased to continue supporting Canam Group in the achievement of its business goals,” said David Gladu, leader of the manufacturing vertical within GE Capital, Canada. “We’re pleased when we can devise customized and flexible financial solutions that will help our clients concentrate on growing their businesses.”
Canam Group takes part in an average of 10,000 building, structural steel and bridge projects each year. It operates 22 plants across North America and employs over 4,100 people in Canada, the U.S., Romania, India and Hong Kong.
“Through increased flexibility and liquidity, this credit facility will be helpful in reallocating debt on our balance sheet as we execute our strategic growth plan,” said René Guizzetti, vice president and CFO of Canam Group. “We appreciate collaborating with a lender that has a deep expertise in the manufacturing industry and the construction sector.”
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