CG Commercial Finance delivers $4 million lease for valve supplier

Specialist provider CG Commercial Finance (CGCF) has delivered a $4 million lease solution for a manufacturer of industrial valves used in global oil and gas exploration and production after the client’s own bank group declined to finance the project.

The transaction consisted of Oracle eCommerce and ERP software licensing, implementation and project management costs with associated hardware. Although the company concerned is well-established and has a strong client base, significant soft costs, the requirement for progress funding and economic unpredictability in the sector all made the transaction challenging.

CGCF said it used its extensive knowledge of the energy industry, coupled with strong project management capabilities, to meet the client’s timetable and ensure timely payments to the three software and service vendors involved in the implementation.

The finance house released details from the valve supplier’s letter of reference, where the controller wrote: “The team at CG Commercial Finance has been professional, responsive and courteous in the leasing of our ERP project. CG was able to include most of the ‘soft costs’ of the ERP implementation including developer’s invoices for time and software engineering costs. I look forward to continuing the relationship for any other challenging asset financing or leasing needs we may have.”