GE Capital's Telecom, Media and Technology (TMT) financing business today announced it had completed 38 deals totaling $3.4 billion in financing during 2011.
"This has been an active year for financing across our industries," said Pete Foley, senior managing director of GE Capital's TMT team. "Despite continued uncertainty in the market, good transactions are being financed. It is encouraging to see these deals close and we remain optimistic about 2012."
The business addresses the financial needs of customers in key growth sectors, including cable, towers, metro fiber, TV, digital media and software, among others. During 2011, acquisitions and refinancing activity were prominent, with a record number of companies turning to GE for financing.
"Beyond simply accessing capital, customers come to GE because of our industry expertise as well as the added value we provide through collaboration and the sharing of best practices," continued Foley. "Through Access GE, we are leveraging GE's diverse expertise and knowledge, helping our customers build stronger businesses."
More than capital
GE Capital is providing added value through programs like Access GE and creating opportunities for industry leaders to engage in dialogue regarding challenges and opportunities in their markets. For more information on Access GE, please visit www.americas.gecapital.com/working-with-us/access-ge .
Penton Media
An independent business-to-business trade information provider, Penton Media has turned to GE for more than just capital over the past several years. After completing successful financial transactions together since 2005, Penton began leveraging GE's broader expertise in 2010, helping address business challenges that touch many areas of the company. Through Access GE, Penton's leadership team has seen the value GE can bring beyond lending including, among others, projects involving employee performance-based management processes as well as leadership and change management training. Penton is currently tapping into Access GE for help driving greater productivity in operations and global expansion.
Raycom
In October 2011, GE Capital held a national middle market summit, Leading from the Middle, in conjunction with The Ohio State University. Paul McTear, CEO of Raycom, a TV broadcasting company and current customer of GE Capital, came to the summit and had the chance to meet with a number of GE leaders including GE Chairman and CEO Jeffrey Immelt. Of the event, McTear said, "This was one of the best customer events I have attended. It was an invaluable opportunity to engage in dialogue with other industry leaders regarding the challenges and opportunities we are facing."
The Teaching Company
Since closing its financing transaction with GE Capital at the beginning of 2010, The Teaching Company has continued to experience the benefits of financing through GE. The company utilizes video and audio production to publish lectures featuring renowned professors, a product known as The Great Courses. Despite economic stress over the past several years, they have experienced significant growth and demand for their products. Access GE provided operations professionals, tools and methods to help the company gain efficiencies in their production processes that were required to keep up with the company's rapid growth and product scalability.
About GE Capital, Telecom, Media and Technology
GE Capital's Telecom, Media and Technology business provides financing to enable corporate growth, acquisitions and balance sheet refinancings to companies in the following industries: Cable, towers, data centers, wireless, metro fiber, radio, TV, digital media, education services and software, and in technology companies that enable these industries. With Access GE, clients also benefit from access to GE's best practices. Visit gecapital.com/tmt.