GE Capital, Commercial Distribution Finance (CDF) announced July 20 that it will become the exclusive provider of floorplan financing for Briggs & Stratton Power Products Group LLC (BSPPG) in the United States and Canada.
Headquartered in Wauwatosa, Wis., BSPPG offers residential and outdoor power equipment under the Simplicity, Snapper, Massey Ferguson, Snapper Pro and Ferris brand names. Parent company Briggs & Stratton Corp. [NYSE: BGG] also manufactures and markets GE-branded standby generators under a separate licensing agreement.
“Floorplan financing is an important element of a successful dealer business model, and GE Capital provides a long-term solution for lawn and garden dealers to stock and market outdoor power equipment,” said Harold Redman, senior vice president of Briggs & Stratton and president of Briggs & Stratton Power Products Group.
“We are very pleased to have been chosen by BSPPG, and we look forward to providing exceptional service and innovative financing to meet the needs of their dealers,” said Marvin Solomon, managing director of CDF’s strategic industries group. “Our team is eager to work together with our new client to develop financing programs that are right for their dealer customers.”