Commercial finance provider GE Capital
yesterday became the sole lender on a £70m asset-based lending
facility for Energy Alloys LLC, to support the company’s growth and
working capital needs.

Based in Houston, Texas and Rotherham in the
UK, Energy Alloys provides oil field metals and equipment to global
oil and gas manufacturers and service companies. It has domestic
operations in the UK and international operations in the US, the
United Arab Emirates, Canada, Mexico, South Korea and

Energy Alloys chief financial officer Paul
Patek said: “By considering both our domestic and international
assets, GE Capital provided us with optimal borrowing capacity that
more than meets our needs.”