Wheeler Financial from Pitney Bowes Finances Investment in New Technology for Giuliante Machine Tool
Pitney Bowes (NYSE: PBI) announced the closure of a financing deal by Wheeler Financial with Giuliante Machine Tool, Inc. The transaction is aimed at enhancing manufacturing efficiency in the aerospace sector. Giuliante Machine Tool, known for producing components for military and commercial aircraft, plans to utilize this capital for advanced technology investments. The five-year dollar-buyout lease allows for better cash flow management, especially crucial for small businesses amid ongoing economic challenges from COVID-19.
- Closure of a financing transaction with Giuliante Machine Tool to enhance efficiency.
- Investment aimed at advanced manufacturing technology in the aerospace sector.
- Support for small businesses through flexible financing solutions.
- Ongoing economic challenges due to COVID-19 impacting small businesses.
STAMFORD, Conn.--(BUSINESS WIRE)--Pitney Bowes Inc. (NYSE: PBI), a global technology company that provides commerce solutions in the areas of ecommerce, shipping, mailing and financial services, today announced that Wheeler Financial from Pitney Bowes has closed a financing transaction with Giuliante Machine Tool, Inc. The leading aerospace component manufacturer is investing the capital in sophisticated manufacturing technology to boost efficiency and meet its clients’ evolving requirements.
Founded in 1978, Giuliante Machine Tool manufactures premium quality components for military fighter jets, helicopters, transport planes and commercial aircraft. Having expanded significantly from its early roots in Port Chester to a 27,000 square-foot facility in Peekskill, New York, Giuliante Machine Tool was looking to invest in equipment which would allow it to produce higher volumes of components more efficiently, for a greater number of clients. The manufacturer entered into a five-year dollar-buyout lease from Wheeler Financial.
Marcelo Giuliante, VP Operations, Giuliante Machine Tool said, “In our experience, sometimes the larger banks make borrowing more challenging than it needs to be. Wheeler Financial was very easy to work with. The entire process was fast and smooth from start to finish.”
“Small businesses like Giuliante Machine Tool must invest to grow but don’t want the burden of major upfront capital investment, particularly after the most challenging year many have ever experienced,” said Christopher Johnson, Senior Vice President and President, Pitney Bowes Financial Services. “Despite the negative impact COVID-19 is having on the market, we continue to invest in small and mid-sized businesses which are a vital segment of our economy.”
Leasing equipment is just one of the ways in which Pitney Bowes Financial Services offers its support and expertise to small- and mid-market companies. As well as offering affordable working capital solutions, dedicated expertise and financial flexibility, it supports high volume shippers of all sizes to help them optimize cashflow.
Pitney Bowes Financial Services is committed to delivering the liquidity businesses need to succeed, leveraging its one hundred years of leadership and firm, unwavering commitment to SMBs.
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. The Pitney Bowes Bank, together with Pitney Bowes, has been financing Pitney Bowes equipment for over 20 years. 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; and financing. For 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.
