GE completes Bombardier Capital division acquisition
STAMFORD, Conn.— GE Commercial Finance, the business-to-business financial services unit of General Electric Co. (NYSE: GE), has completed its previously announced US$2.3 billion acquisition of Bombardier Capital’s Inventory Finance Division (BCIFD), the company reported in a statement on Wednesday.
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 U.S. and Canada.
Headquartered in Colchester, Vermont, BCIFD has relationships with more than 4,500 dealers and more than 500 manufacturers through its four business units: Powersports (snowmobiles, all terrain vehicles), Marine (boats, motors, and boat trailers), Recreational Vehicles and Manufactured Housing.
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