Daily News: October 1, 2013

GE Capital Provides $110MM ABL to Arthur Schuman

GE Capital, Corporate Finance said it is administrative agent and sole lender on a $110 million asset-based credit facility for Arthur Schuman, a cheese manufacturer and distributor. The loan refinances existing debt and will be used to support growth. GE Capital also provides the company with equipment lease financing.

Established in 1946 and headquartered in Fairfield, NJ, Arthur Schuman is an importer, producer, processor and distributor of Italian-style hard cheese. With production facilities in Wisconsin, and distribution and processing facilities in Wisconsin, New Jersey, California and Illinois, the company processes more than 129 million pounds of cheese annually.

“GE worked diligently to structure a customized and competitive credit facility that meets the specific needs of our company,” said Larry Schaefer, chief financial officer of Arthur Schuman. “By understanding our business and objectives, they were able to provide us with increased liquidity and flexibility to support our growth.”

“We specialize in making significant financial commitments to food manufacturers and distributors,” said Bob McCarrick, chief commercial officer–lending at GE Capital, Corporate Finance. “We aim to provide smart, flexible financing for mid-size companies to help them succeed.”