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Capital Solutions to Finance Viking Range Displays for Appliance Dealers

CHICAGO--(BUSINESS WIRE)--Capital Solutions for the Home Product Industry (CSHPI) announced today that it will provide floorplan financing to dealers that sell appliances by Viking Range, LLC. A subsidiary of The Middleby Corp., Viking is a leading manufacturer of kitchen equipment for the residential market.

“And our knowledge of the U.S. appliances industry and our existing dealer relationships help us create customized financing programs for their dealers.”

This agreement allows Viking’s qualifying U.S.-based dealers to use floorplan financing to purchase display products for their stores. Floorplan financing, also known as inventory financing, is an important element of a successful manufacturer-dealer business model. It allows dealers to display products in their showrooms without depleting their cash reserves, while manufacturers can focus on their core capabilities.

“It’s important to us to support a program that allows our dealers to display Viking products without any upfront investment,” said Martin Lindsay, Middleby’s treasurer. “The decision to offer our dealer financing program through CSHPI was a natural one because its dealer base is very much aligned with ours.”

“Working together, we can showcase Viking’s high-end residential appliances,” said Judy Toland, commercial leader of electronics and appliances at CSHPI. “And our knowledge of the U.S. appliances industry and our existing dealer relationships help us create customized financing programs for their dealers.”

This program is coming on board in time to support the largest new product introduction in Viking company history. New products, now hitting dealer floors, include the French door oven and the feature-rich, performance-based 7 Series ranges, in addition to new ventilation, refrigeration and kitchen cleanup product lines. For specific information on utilizing this program and additional details, qualifying dealers should contact their Viking sales representative.

About Viking Range, LLC

Viking Range, LLC manufactures ultra-premium commercial-type appliances for residential use. The majority of its product line is proudly made in Greenwood, MS, which is also home to its company headquarters. VIKING™ appliances are sold through a network of premium appliance distributors and dealers worldwide. The company is a subsidiary of The Middleby Corp., a long-time leader in commercial kitchen technology. For more information, please visit http://www.vikingrange.com.

About Capital Solutions for the Home Product Industry

Capital Solutions for the Home Product Industry (CSHPI) provides specialized financing and servicing programs that facilitate the manufacturing, distribution and sale of products for industries such as electronics, appliances and home furnishings. Its programs include inventory and accounts receivable financing, private label financing, collateral management, e-commerce services and related financial products. In the appliance, electronics and home furnishing industries, CSHPI services more than 300 manufacturers and distributors and more than 5,000 dealers, including independent dealers and those associated with buying groups. For more information, visit www.cshpi.com.

Contacts

Prosek Partners for Capital Solutions for the Home Product Industry
Josh Clarkson, 212-279-3115 Ext. 259
jclarkson@prosek.com
or
Viking Range, LLC
Tim Tyler, 662-451-4123
Director of marketing
ttyler@vikingrange.com