GMAC Commercial Finance (GMAC CF) is expanding its European operations with new operations in Poland and Germany. Over the last 12 months, GMAC CF has seen an increase in the demand for finance facilities across Europe and so is on an expansion drive with the long-term aim of creating a presence in every major European financial centre.
GMAC CF is a leading independent corporate finance specialists, offering a range of asset-based lending, invoice finance and import/export services, and is further developing the range of services it offers clients to reflect demand for pan-European funding solutions.
Funding cross border M&A deals is often complex with companies looking to source and organise funding packages in each country and often required to work with several banks or financiers.
GMAC CF UK sales and marketing director Brent Osborne, said: “Multi-jurisdictional finance enables companies to focus on building their business, rather than having to spend time liaising with multiple finance providers – saving time and money.” He adds that as businesses continue to look for global solutions addressing the local requirements of each market they operate in, demand for multi-jurisdictional funding is expected to grow strongly.
“Throughout 2003 advisers referring business to us were seeking more creative facility structures and this need to create innovative and complex structured deals has further developed as the upper value limit of deals continues to grow, and have involved many European operations.”
In Poland the group’s strategy will be to enter the market in the first quarter of 2004, providing full factoring facilities on a recourse basis and cross-border recourse and non-recourse facilities.
GMAC Commercial Finance recently completed a $30 million deal for Purolite, a major player in the global ion exchange resins market, which enabled funding to be raised from seven worldwide locations to create a single confidential invoice discounting and working capital funding facility.
Purolite is using the facility to fund its business operations in the US, Romania, Germany, France, Italy, Spain and the UK.
GMAC Commercial Finance is part of GMAC Financial Services a wholly owned subsidiary of General Motors since 1919. The company and its two commercial finance affiliates have operations in the UK, US and Canada. The group has over 40 years’ experience providing invoice financing services.