Wells Fargo completes purchase of GE Capital CDF Australia, New Zealand segments

Wells Fargo has completed the purchase of the Australian and New Zealand segments of GE Capital’s Commercial Distribution Finance business, the company announced Monday. The acquisition includes CDF assets, and 123 team members across 5 sites in Australia, along with CDF assets and 7 team members across 2 sites in New Zealand. “CDF has a …
Boating Industry

Wells Fargo completes acquisition of GE Capital CDF Asia

Wells Fargo & Company announced Friday it has completed the purchase of the Asia segment of GE Capital’s Commercial Distribution Finance business. The acquisition includes CDF assets and 46 team members in markets where Wells Fargo currently operates in Asia Pacific, with the exception of Australia and New Zealand, which are expected to close later …
Boating Industry

Suntex Marina Investors secures investment capital

Suntex Marina Investors LLC (Suntex), an owner and operator of marina properties, announced today that it raised over $ 200 million of equity commitments in a series of private placement transactions. As part of the transaction, Suntex has also acquired the assets and personnel of Suntex Waterfront Advisors (SWA), a premier manager of marina properties. The […]
Boating Industry

Wells Fargo buying GE Capital Commercial Distribution Finance

GE will sell a $ 30 billion piece of its commercial lending operations, including Commercial Distribution Finance, to Wells Fargo. GE Capital CDF is the largest provider of floorplan financing in the marine industry. The deal is part of GE’s plan, announced in April, to mostly exit the financial services business. The transaction is expected to […]
Boating Industry

Wells Fargo still interested in GE Capital assets, CFO says

Wells Fargo would still like to acquire more of GE Capital’s lending assets, but expects competition to be tough, the bank’s CFO said during an earnings call Tuesday. GE announced in April that it would be selling off most of its lending operations, including its commercial lending business, the largest provider of floorplan financing in […]
Boating Industry

GE Capital sees positive trends in Canadian market

ISSISSAUGA, Ontario – GE Capital’s Commercial Distribution Finance (CDF) business sees positive trends in the Canadian motorsports and recreational vehicle (RV) industries through the first half of the year, while the marine industry is experiencing a slight slowdown after last year’s accelerated growth. “Weather once again has had an impact on the recreational industries in […]
Boating Industry

GE Capital: Industry continues to surge; expects 2014 sales to grow 8%

CHICAGO – After a slow start resulting from a harsh winter and cold spring, the recreational marine industry is experiencing accelerated growth, says GE Capital, Commercial Distribution Finance (CDF). Retail and wholesale sales are up versus a year ago in the U.S., and the industry is on track to reach the 8% growth in retail dollar sales […]
Boating Industry