GE Capital Selected by Briggs & Stratton Power Products Group as Exclusive Provider of Inventory Financing Programs
HOFFMAN ESTATES, IL – GE Capital, Commercial Distribution Finance (CDF) today announced that it will become the exclusive provider of floorplan financing for Briggs & Stratton Power Products Group LLC (BSPPG) in the U.S. and Canada.
Headquartered in Wauwatosa, WI, BSPPG offers residential and outdoor power equipment under the Simplicity, Snapper, Massey Ferguson, Snapper Pro and Ferris brand names. Parent company Briggs & Stratton Corp. [NYSE: BGG] also manufactures and markets GE-branded standby generators under a separate licensing agreement.
"Floorplan financing is an important element of a successful dealer business model, and GE Capital provides a long-term solution for lawn and garden dealers to stock and market outdoor power equipment," said Harold Redman, senior vice president of Briggs & Stratton and president of Briggs & Stratton Power Products Group.
"We are very pleased to have been chosen by BSPPG, and we look forward to providing exceptional service and innovative financing to meet the needs of their dealers," said Marvin Solomon, managing director of CDF’s strategic industries group. "Our team is eager to work together with our new client to develop financing programs that are right for their dealer customers."
About Briggs & Stratton Power Products Group
Briggs & Stratton Power Products Group, LLC (BSPPG) is North America’s number one manufacturer of portable generators and pressure washers, and is a leading designer, manufacturer and marketer of lawn and garden and turf care. These products are sold through consumer home centers, department stores, mass merchants, warehouse clubs and independent dealers. BSPPG is a wholly owned subsidiary of Briggs & Stratton Corporation (BASCO), the world’s largest producer of gasoline engines for outdoor power equipment.
About GE Capital, Commercial Distribution Finance
GE Capital, Commercial Distribution Finance provided more than $30 billion in financing to manufacturers and their distributors and 30,000 dealers across the Americas in 2010. Programs include inventory and accounts receivable financing, asset-based lending, private label financing, collateral management, e-commerce services and related financial products. For more information, visit www.americas.gecapital.com or follow company news via Twitter (@GEInventoryFin).
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (@GECapital).
GE (NYSE: GE) is an advanced technology, services and finance company taking on the world’s toughest challenges. Dedicated to innovation in energy, health, transportation and infrastructure, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.