CHICAGO – December 17, 2015 – Commercial Distribution Finance* (CDF), a business of GE Capital, announced today that Arctic Cat Inc. (NASDAQ: ACAT), a leading manufacturer of recreational products, has chosen CDF as an exclusive provider for dealer inventory financing across North America. The financing will consolidate all of ACAT’s North American dealers onto one technology platform and provide them leading edge tools to help manage their businesses.
Chris Eperjesy, CFO at Arctic Cat, said, “We’re consolidating our North American dealer-inventory financing under CDF because of their expertise in our industry and their leading technology solutions.”
Headquartered in Minnesota, Arctic Cat has been manufacturing snowmobiles, all-terrain vehicles (ATVs) and side-by-sides since 1960 and has had a long-standing relationship with CDF in the U.S. The new, exclusive dealer financing agreement extends the U.S. relationship and establishes a new financing relationship covering Canada.
“We are excited and honored that Arctic Cat has chosen to bring its entire North American dealer network onto the CDF platform”, said Jeremy Jansen, president of CDF’s motorsports group.
“We look forward to delivering a best-in-class financing experience for Arctic Cat’s Canadian dealers”, said Howard Shiebler, president of CDF Canada.
About Arctic Cat
The Arctic Cat brand is among the most widely recognized and respected in the recreational vehicle industry. The company designs, engineers, manufactures and markets all-terrain vehicles (ATVs), side-by-sides and snowmobiles, in addition to related parts, garments and accessories under the Arctic Cat® and Motorfist® brand names. Arctic Cat Inc.’s world headquarters is located in Minneapolis, Minnesota. Its common stock is traded on the NASDAQ Global Select Market under the ticker symbol “ACAT.” More information about Arctic Cat and its products is available at www.arcticcat.com.
About GE Capital, Commercial Distribution Finance
Commercial Distribution Finance (CDF) provided $46 billion in financing for more than 40,000 dealers and more than 2,000 distributors and manufacturers globally in 2014. CDF operates in 60 countries and provides inventory financing solutions, service and intelligence through in-depth industry expertise and commitment. Programs include inventory and accounts receivable financing, asset-based lending, private label financing, collateral management, and related financial products. On October 13, 2015, Wells Fargo agreed to acquire CDF from GE Capital as part of a larger transaction that is expected to close in the first quarter of 2016. For more information, visit gecdf.com or follow company news via Twitter (GEInventoryFin).
*On March 1, 2016, Wells Fargo acquired GE Capital’s Commercial Distribution Finance business, which is now part of the Wells Fargo Commercial Distribution Finance business.