GE Commercial Finance’s Media, Communications & Entertainment business provided $55 million in financing to ENK International Inc. for expansion into new fashion categories.
ENK, a fashion industry trade show organization, recently acquired WSA Global Holdings, the provider of marketing services to the global footwear and accessories marketplace.
The total credit facility of $80 million closed on Dec. 20, which includes the $55 million from GE’s media group. The source for the balance of the facility was not immediately available.
Ray Shu, managing director, GE Commercial Finance, Media, Communications & Entertainment, said in a statement that the financing allows ENK to continue leading in its niche market and is a “growth opportunity for GE through solidifying our leadership in financing this evolving and highly competitive marketplace.”
Luis Padilla, president of ENK International, said the firm “needed financing from a company that would be able to grow and evolve with us, and GE offered that.”