07.09.2012

$75 million for Acme

Acme Lift, the US based re-rent company has agreed a new $75 million asset based credit facility with GE Capital. The loan will be used to refinance existing debt and support future growth.

Acme, established by Woody Weld in 1997, is based in Mesa, Arizona and runs a fleet of JLG aerial lifts, telehandlers and boom trucks which it rents out to retail rental companies throughout North America.

Acme chief operating officer Steve Nadelman said: “GE Capital brought extensive industry knowledge and creative structuring concepts to this deal. Their deep understanding of our business model enabled them to deliver a financing solution that will help build our business.”

Bob McCarrick, chief commercial officer, lending for GE Capital, Corporate Finance added: “We’re committed to providing capital and market insight to our customers. 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.”

This latest move follows a $77 million re-capitalisation of the business back at the start of 2011 See Acme completes recapitalisation