GE Capital Provides $30 Million to Venture Technologies, Newly Formed Combination of Three IT Solution Providers

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CHICAGO--(BUSINESS WIRE)--

GE Capital's Commercial Distribution Finance (CDF) business has provided Venture Technologies, a newly formed combination of three value-added IT resellers (VARs), with a $30 million senior secured working capital loan in order to support the company's expected growth.

Venture Technologies was formed by the merger of GKR Systems, Inc. with Information Systems Consulting, Inc. of Denver, and the acquisition by GKR of Strategic Allied Technologies of Birmingham, AL. The newly formed company will operate from headquarters in Ridgeland, MS with a staff of 205 and an estimated $150 million in annual revenues.

“Our goal was to combine three companies into a single, strong solutions provider, thereby augmenting our expertise and capabilities and expanding our geographic reach,” said Venture Technologies CFO Norman Katool. “GE Capital allows us to finance our business day-to-day and successfully move forward as one entity.”

The company's merger and ongoing channel consolidation strategy is supported by FlatWorld Capital, a New York-based private equity group that specializes in funding and advising middle-market information technology (IT) firms.

“In the IT marketplace, we're seeing these types of consolidations as system integrators broaden their solution set to include IT infrastructure and cloud services,” said Mike Marcolina, managing director of CDF. “As this continues, we're providing working capital financing, recognizing that access to liquidity is a key requirement for enabling growth.”

CDF has provided inventory working capital financing to GKR since 1987.

About Venture Technologies

Venture Technologies is an IT solutions provider that delivers premise infrastructure solutions, collaboration solutions and cloud services to both private and public sector organizations. Founded in 1986, the company operates in six states. It also owns and operates certified data centers in Jackson, MS; Englewood, CO; Dallas; and Casper, WY. Visit www.ventech.com for more information.

About FlatWorld Capital

FlatWorld Capital is a global private equity investment firm led by a team of dynamic investment professionals and entrepreneurs with over seven decades of experience in finding and structuring innovative and creative solutions to the challenges of global private equity investing. Visit www.flatworldcapital.com for more information.

About GE Capital, Commercial Distribution Finance

GE Capital, Commercial Distribution Finance provided $34 billion in financing for more than 30,000 dealers and more than 3,000 distributors and manufacturers in the U.S. and Canada in 2013. Programs include inventory and accounts receivable financing, asset-based lending, private label financing, collateral management and related financial products. For more information, visit http://www.gecdf.com/ or follow company news via Twitter (http://twitter.com/GEInventoryFin).

GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (http://twitter.com/GECapital).

GE GE works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.

GE Capital, Americas
Lisa Tibbitts, 203-956-4582
lisa.tibbitts@ge.com

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Posted In: Press Releases
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