On Thursday, Shares of General Electric Company (NYSE:GE), lost -0.81% to $27.04.
GE Capital, Commercial Distribution Finance (CDF) declared a multi-year extension of its planned inventory financing program in the U.S. with Schiller Grounds Care. Schiller, a manufacturer of landscaping, turf and grounds equipment, distributes its products through thousands of dealers across the country. Schiller has worked with CDF since 2009.
“The CDF team has offered tremendous value to our company through their in-depth knowledge of the lawn and garden industry, their financing experience and their business-intelligence offerings,” said Pat Cappucci, president and COO of Schiller Grounds Care. “Additionally, they have strong dealer and distributor relationships, making them the ideal lender for us.”
“We greatly value our relationship with Schiller and we are excited to work closely with them as they plan for future growth,” said Mike Horak, president of the outdoor products group at CDF. “Our team brings decades of experience in the lawn and garden industry and will serve as a trusted resource for Schiller.”
General Electric Company (GE) operates as an infrastructure and financial services company worldwide. The company’s Power and Water segment offers gas, steam and aeroderivative turbines, nuclear reactors, generators, combined cycle systems, controls, and related services; wind turbines; and water treatment services and equipment.
Shares of Milacron Holdings Corp. (NYSE:MCRN), declined -2.10% to $19.58, during its last trading session.
Milacron Holdings Corp., declared the pricing of its initial public offering of 14,285,714 shares of its common stock at a price to the public of $20.00 per share. All of the shares of common stock in the offering are being offered by Milacron. In addition, Milacron has granted the underwriters a 30-day option to purchase up to an additional 2,142,857 shares of common stock.
BofA Merrill Lynch, Barclays, J.P. Morgan, Baird, Credit Suisse and Goldman, Sachs & Co. are acting as joint book-running managers and KeyBanc Capital Markets and William Blair are acting as co-managers. The offering is predictable to close on June 30, 2015, subject to customary closing conditions.
Milacron Holdings Corp. manufactures, distributes, and services engineered and customized systems within the plastic technology and processing industry in North America, Europe, Asia, and internationally.
Finally, KKR & Co. L.P. (NYSE:KKR), ended its last trade with -0.13% loss, and closed at $23.26.
KKR Credit, part of KKR & Co. L.P. a leading global investment firm, declared the launch of a pan-European platform that aims to support banks in managing their exposures to non-core and under-performing assets by improving the performance and value of the businesses which underpin the exposure.
The platform is intended to provide long-term capital and operational expertise to businesses to assist them stabilize and grow, creating value for all stakeholders. The platform will be structured so that the participating banks share in the upside of the recovery in performance of the businesses and the value of the related assets on the banks’ balance sheet.
There are €1.9 trillion of non-performing and non-core assets, counting €1.2 trillion of non-performing loans, sitting on the balance sheets of European banks. These assets are capital intensive and are ultimately restraining the growth of the banks, companies and economies in which they both operate. KKR Credit’s solution is directed toward assisting to unlock bank lending and rebuild companies, supporting local and national economies in turn.
The launch of this platform is a continuation of KKR’s commitment to investing in industry across Europe and will be funded by commitments from certain funds managed or advised by KKR or its associates. Since 1996, KKR has invested in more than 100 major companies across industrial sectors in Europe, representing about $25 billion in invested long-term capital.
KKR & Co. L.P. is a private equity and real estate investment firm specializing in direct and fund of fund investments. It specializes in acquisitions, leveraged buyouts, administration buyouts, credit special situations, growth equity, mature, mezzanine, distressed, and middle market investments.
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