GE Capital, Corporate Finance has announced a $225 million asset-based loan for 84 Lumber Co. The loan will be used to refinance existing debt and for working capital purposes.
Based in Eighty Four, Pa, 84 Lumber owns and operates 250 stores, component plants, door shops, installation centers and engineered wood product shops in 30 states. Serving both the residential and commercial markets, the company also offersg material and labor packages for the installation of windows and doors, framing, roofing, insulation and drywall.
“GE Capital worked closely with us to help structure a deal that met our specific goals and provided fresh capital into our bank group,” says Paul Lentz, 84 Lumber CFO. “Their structuring expertise, industry know-how and ability to understand and grow with 84 Lumber are qualities we need in a lender to help us succeed.”
“We work to develop customized financing packages that are tailored to our customers’ particular needs,” says Tom Quindlen, president and CEO of GE Capital, Corporate Finance. “Our experience in the building products industry allows us to best provide companies with specialized, business-building capital.”