GE Capital is providing MerchSource with a $130 million senior credit facility providing working capital for the company’s operations in the U.S. and Hong Kong.
MerchSource, headquartered in Irvine, California, ideates, designs, develops and distributes a variety of consumer products in categories including electronics, toys, home décor, household accessories and pet supplies. Its products are sold in retailers such as Bed Bath & Beyond, CVS, Kohl’s, Macy’s, Target, Walgreens and Wal-Mart.
“GE Capital’s global capabilities and their ability to provide a flexible working capital solution across two countries helps us keep pace during our peak selling seasons,” said Johann Clapp, co-founder of MerchSource. “We have built a strong working relationship with GE Capital over the last several years and value their team’s dedication to our success.”
“We combined our capabilities in the U.S. and Hong Kong to create a global financing program that meets MerchSource’s needs as they continue to grow the company,” said Bob McCarrick, chief commercial officer of lending at GE Capital, corporate finance. “We specialize in finding innovative financial solutions for mid-size customers.”