6^th May , Reigate: GE Commercial Finance’s Business Finance unit, a leading independent finance provider to UK SMEs, has acquired Five Arrows Commercial Finance Ltd - a major, UK-based asset-based lender and factoring house.  Five Arrows was acquired from NMR for an undisclosed sum.

Five Arrows Commercial Finance is one of the top ten providers of invoice discounting, factoring and asset-based lending solutions to small and mid-market businesses in the UK, with over 400 clients and more than £175 million of assets under management.  The acquisition will significantly extend GE Commercial Finance’s operations in the UK, providing additional distribution capabilities and deeper penetration of the small business market.

Headquartered in Manchester, Five Arrows Commercial Finance employs 78 people and has offices in Edinburgh, Newcastle, Leeds, Birmingham, London, Cardiff, Bristol, Newcastle, Southampton and Reading.

Commenting on the acquisition, John Jenkins, CEO, GE Commercial Finance, Business Finance, said: “As a leading provider of asset-based lending and invoice discounting services to SMEs and mid market companies in the UK, Business Finance is always looking for strategic acquisition opportunities that will be a complementary fit for our organisation and will support the ongoing growth of our core operations.  Five Arrows Commercial Finance not only brings a strong customer portfolio, very much aligned to our own strike zone and good people, but also new product and distribution capabilities that will enhance our ability to better service customers and compete in the market."

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Following the acquisition, GE Commercial Finance, Business Finance will have more than 1,000 customers across the UK and over £1bn of assets under management.  The business will continue to be headquartered out of its offices in Reigate.

"The acquisition of Five Arrows Commercial Finance marks a new and exciting chapter in the development of our business, which will enable us to reach more customers and provide a better range of solutions.  At GE we have always prided ourselves on delivering creative, business-led solutions for our customers and, in that regard, Five Arrows is a perfect fit,” concluded Jenkins.

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About GE Commercial Finance

GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over $300 billion and is headquartered in Norwalk, Connecticut.

General Electric (NYSE: GE) is Imagination at Work - a diversified technology, media and financial services company focused on solving some of the world's toughest problems.  GE serves customer in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit ge.com.

About GE Commercial Finance, Business Finance

Established for 40 years, GE Commercial Finance’s Business Finance unit is a leading independent structured finance provider for SMEs and provides a wide range of businesses with financing to support their day-to-day activities as well as major initiatives such as MBOs, MBIs, corporate restructures, acquisitions, plant investment and development into new markets.

Its experience, size, track record and, most importantly, independence mean Business Finance can offer innovative and flexible business finance solutions. It can create funding options based on a combination of debtors, finished stock, plant and machinery, unencumbered land and buildings, historic and projected cash flow and even the value of a brand.