Acme Lift granted $75 million loan
10 September 2012
Re-rental company Acme Lift Company, LLC, has agreed to a $75 million asset based credit facility with GE Capital. The loan will be used to refinance existing debt and support future growth.
Founded in 1997 by Woody Weld, Arizona-based Acme Lift provides equipment to more than 900 rental companies in the U.S. 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, president and chief operating officer of Acme Lift Company. "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."