NMB Heller Purchase Boosts GE's Asset-Based Finance Arm
GE Corporate Financial Services has purchased NMB Heller Ltd UK from NMB Heller Holding N.V. The transaction will transfer £645 million in assets to GE Corporate Financial Services’ £5.5 billion asset portfolio in Europe. The acquisition confirms GE Corporate Financial Services’ continued growth plans for the UK market. The move will allow GE CFS to offer a wider portfolio of working capital solutions including factoring and invoice discounting to SMEs typically with turnover of between £1 million and £200 million. The company is also developing its portfolio of larger, structured asset based deals in the £20-100 million funding range.