Wheeler Financial from Pitney Bowes Helps Ghilotti Bros Inc Secure Funding to Drive Growth and Boost Competitiveness
July 17 2019 - 08:00AM
Business Wire
Prominent construction firm secures capital to
invest in technology
Pitney Bowes (NYSE: PBI), a global technology company that
provides commerce solutions in the areas of ecommerce, shipping,
mailing, finance and data, today announced that Wheeler Financial
from Pitney Bowes has closed a financing transaction with Ghilotti
Bros. Inc (GBI) to help them grow their business. GBI is a highly
prominent, 105-year-old construction firm in Northern California
that is on its fourth generation of ownership. They employ over 275
people and generate annual revenues in excess of $100 million. The
firm secured funding from Wheeler Financial to invest in GPS
tracking technology to gain an advantage in its highly-competitive
market.
GBI is a family-run business with community-focused values at
its heart, operating for over a century. The firm has delivered
outstanding, high-profile construction and infrastructure projects
across the Bay Area counties, including utilities, bridges,
marinas, roads, runways and railways.
In order to maximize opportunities during California’s dry
season, GBI needed an asset critical to compete and win bids during
this brief seasonal window. Understanding the impact of this
financing and its potential to drive growth for GBI, Wheeler
Financial accelerated the process, promptly providing the company
with the funding it needed. As a result, GBI was able to invest in
a state-of-the-art GPS Tracking Station, essential technology for
accuracy in construction and crucial for the firm to secure new
contracts and generate growth.
“California is undergoing major investment in its
infrastructure, so it’s vital we have the assets to take advantage
of this unprecedented opportunity and compete at the highest
level,” said Mike Ghilotti, President, Ghilotti Bros. Inc. “To help
us secure financing for these assets, we needed a partner that
would quickly understand our requirements and appreciate our need
for a swift response. Wheeler Financial was a responsive,
supportive partner that understood our business and complemented
our existing relationships with other partners. They acted with
speed and agility.”
“GBI is a thriving business, but it must respond quickly to
favorable market conditions to stay competitive. Having the right
assets in place at the right time is a critical success factor,”
said Christopher Johnson, Senior Vice President and President,
Pitney Bowes Financial Services. “The more ‘traditional’ sources of
capital to finance these assets can be prohibitive, protracted and
complex. Wheeler Financial, with its depth of experience and access
to capital, has helped GBI take its next steps forward, quickly and
effectively with the added peace of mind that comes from working
with a partner built to meet the specific needs of the small and
medium sized business market.”
Pitney Bowes has been a trusted enabler for small business
growth for almost 100 years, has operated a bank platform for two
decades, and has financed or leased more than $10bn of equipment.
Wheeler Financial from Pitney Bowes, a subsidiary of the Pitney
Bowes Bank, Inc., Member FDIC, was announced earlier this year. The
subsidiary was founded specifically to meet the finance, loan and
leasing requirements of small- and middle-market clients, to help
them acquire critical assets.
About Wheeler Financial from Pitney Bowes
Wheeler Financial™ from Pitney Bowes is a subsidiary of The
Pitney Bowes Bank, Inc., Member FDIC, dedicated to helping small to
lower middle market clients acquire the critical assets they need
to grow and expand their business with innovative financing
solutions. For more than 30 years, Pitney Bowes has been financing
their own equipment, while the Pitney Bowes Bank was established in
1996 to support postage financing. Our expansion into helping our
clients finance other purchases reflect our continued commitment to
helping our customers grow efficiently and effectively.
About Pitney Bowes
Pitney Bowes (NYSE:PBI) is a global technology company providing
commerce solutions that power billions of transactions. Clients
around the world, including 90 percent of the Fortune 500, rely on
the accuracy and precision delivered by Pitney Bowes solutions,
analytics, and APIs in the areas of ecommerce fulfillment, shipping
and returns; cross-border ecommerce; office mailing and shipping;
presort services; location data; customer information and
engagement software; services; and financing. For nearly 100 years
Pitney Bowes has been innovating and delivering technologies that
remove the complexity of getting commerce transactions precisely
right. For additional information visit Pitney Bowes, the Craftsmen
of Commerce, at www.pitneybowes.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20190717005193/en/
John Spadafora Pitney Bowes M +1 518 708 3466
john.spadafora@pb.com
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