LOS ANGELES, April 18, 2017 (GLOBE NEWSWIRE) -- Great American Capital Partners, LLC ("GACP"), a wholly-owned subsidiary of B. Riley Financial, Inc. (NASDAQ:RILY), has announced that a fund managed by GACP has entered into an agreement with General Finance Corporation ("GFC") to provide a $20 million term loan for certain subsidiaries of GFC.
"We are very pleased with this refinancing as it provides us with ongoing financial flexibility and nicely positions us for continued growth," said Ronald Valenta, Chairman of General Finance. "We look forward to our continuing mutually beneficial relationship with GACP."
"Our industry experience and flexible financing strategy allowed us to demonstrate our ability to help companies like General Finance continue to pursue growth opportunities in their industry," said John Ahn, President of GACP. "We look forward to building upon our new relationship and working with the General Finance team."
About Great American Capital Partners, LLC
GACP, a division of B. Riley Capital Management, an SEC Registered Investment Advisor and a wholly owned subsidiary of B. Riley Financial, Inc. (NASDAQ:RILY), originates and underwrites senior secured loans across a wide array of industries. GACP is dedicated to providing opportunistic and responsive capital to the underserved middle market.
B. Riley Financial, Inc. is a publicly traded, diversified financial services company which takes a collaborative approach to the capital raising and financial advisory needs of public and private companies and high net worth individuals.
About General Finance Corporation
Headquartered in Pasadena, California, General Finance Corporation (NASDAQ:GFN) (www.generalfinance.com) is a leading specialty rental services company offering portable storage, modular space and liquid containment solutions. Management's expertise in these sectors drives disciplined growth strategies, operational guidance, effective capital allocation and capital markets support for the Company's subsidiaries. GFN's
North America leasing operations consist of wholly-owned subsidiaries Pac-Van, Inc. (www.pacvan.com) and Lone Star Tank Rental Inc. (www.lonestartank.com), providers of portable storage, office and liquid storage tank containers, mobile offices and modular buildings. In addition, the Company also owns 90% of Southern Frac, LLC (www.southernfrac.com), a manufacturer of portable liquid storage tank containers and other steel-related products in North America. The Company's Asia-Pacific leasing operations in Australia and New Zealand consist of majority-owned Royal Wolf Holdings Limited (www.royalwolf.com.au), the leading provider of portable storage solutions in those countries.
Source: Great American Capital Partners
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