Daily News: January 28, 2014

GE Capital Provides $70MM Facility To Shop-Vac

GE Capital, Corporate Finance announced it is serving as agent and sole lender on a $70 million senior credit facility for Shop-Vac Corporation. The credit facility will be used for working capital and general corporate purposes, and to support the company’s international growth.

“Having known and worked with GE Capital’s experienced team for many years, we are excited to be growing our relationship,” said Lennie Sherlinski, treasurer, Shop-Vac. “We feel that GE is the best choice to support our expansion here in the U.S. as well as internationally.”

“Increasingly, we find that mid-size companies are looking internationally for growth opportunities,” said Bob McCarrick, chief commercial officer—lending at GE Capital, Corporate Finance. “We specialize in providing capital to help manufacturers fuel their expansion plans.”

Williamsport, PA-based Shop-Vac is a provider ofwet/dry vacuum cleaners manufactured for consumer, industrial and commercial applications.