Daily News: April 14, 2014

TCF Provides Financing to Support Range Light’s Freedom Electronics Buy

TCF Capital Funding announced it provided a $12 million secured financing to support the acquisition of Freedom Electronics by Range Light.

“We are pleased to support Range Light’s investment in Freedom,” said TCF Capital Funding SVP Jim Kuncl. “The company’s management team has an excellent record of growing sales in its niche market, and Range Light is the ideal sponsor to position the company for its next phase of growth.”

“We are excited to be working with management and supporting this niche market leader,” said Steve Groya of Range Light. “The veteran team at Freedom has done an exceptional job of developing the company, and we believe there is opportunity to continue to grow.”

“We are really excited to partner with Range Light. Range Light brings deep expertise in business process improvement and technology, as well as a long term investment and growth strategy. We are working closely with them to build a stronger infrastructure and invest in expanding our product offerings and market coverage,” said Rod Smith, founder and CEO of Freedom.

Kennesaw, GA-based Freedom Electronics is a rebuilder of electronic gas pumps, POS terminals and printers.