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Wells Fargo leads financing for construction equipment acquisition

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Wells Fargo & Co.’s middle-market banking division is leading a syndicated credit facility to help finance the acquisition of Giles & Ransome by Piscataway-based Foley Inc., which closed earlier this month.

Bank of America and PNC Bank were the participating banks of the new facility, which has a five-year tenor. Wells Fargo also provided treasury and depository services to Foley.

Both Foley and Bensalem, Pa.-based Giles & Ransome are dealers of Caterpillar construction equipment.

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Vince Calio

Vince Calio

Vince Calio covers health care and manufacturing for NJBIZ. You can contact him at vcalio@njbiz.com.

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