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Oct 22, 2010 12:00 AM
Algonquin, IL-based Graphic Arts Capital (GAC), a leading provider of print-related equipment financing, recently expanded its reach through the acquisition of Champion Capital, a provider of lease financing to importers and dealers of printing and graphic arts equipment.
Since industry veteran David Stearns founded GAC in 1996, the company has focused on providing financing and consultation services to equipment manufacturers and end users exclusively within the print market, including Scitex, Indigo, Kodak, HP, xpedx, SCREEN and Fujifilm Graphic Systems. Also, as the founder of One World Business Finance, the nation’s only equipment finance cooperative, Stearns and GAC have access to nearly every aspect of the financing marketplace, including offerings from the government and U.S. Small Business Association.
With recent changes in the economy, GAC is working to expand its services and offerings. This acquisition of Champion is an example of that expansion, says Stearns. Acquiring Champion will allow GAC to move from primarily servicing direct vendors that are involved in front-end and digital technologies to also working with a nationwide network of dealers and companies that market press and finishing equipment. GAC’s goal is to become the exclusive, single-source provider of print-related financing used by both vendors and customers. Stearns says he believes the company is positioned to achieve that goal, given its well-established relationships with nearly every print-related financial institution in North America.
Stearns says, “Despite the fact that the financing marketplace for print-related equipment has fundamentally changed, GAC’s team of experts is able to place a large percentage of its applicants. And although ‘application only’ financing is no longer a reality for most finance companies, GAC is able to offer that service. For the ‘credit elite,’ a significant percentage of applications can be approved without personal guarantees and come with rates that compete favorably with their primary banking relationship.”