BCIFD, which was part of the financing division of Bombardier Inc. (Toronto: BBD), provides floor plan financing for a diverse range of equipment in the US and Canada.
"This acquisition presents an exciting opportunity for us to further enhance our offering to help our customers grow their business," said Dan Henson, President and CEO of GE Commercial Finance, Vendor Financial Services.
Headquartered in Colchester, Vermont, BCIFD has relationships with more than 4,500 dealers and more than 500 manufacturers. It is comprised of four main business units that provide financing for a variety of products: Powersports (snowmobiles, all terrain vehicles), Marine (boats, motors, and boat trailers), Recreational Vehicles and Manufactured Housing.
About GE Commercial Finance:
GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over US$230 billion and is headquartered in Stamford, Connecticut, USA. GE (NYSE: GE) is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.
Caution Concerning Forward Looking Statements: This document includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors. More information about those factors is contained in GE's filings with the Securities and Exchange Commission.