Sullair, an industry leader in innovative compressed air solutions since 1965, announced today that it has selected Northpoint Commercial Finance (Northpoint) as the exclusive provider of floorplan financing for its distributors in the U.S. and Canada.
The inventory finance program will allow Sullair distributors to stock, market and sell a wide variety of Sullair’s serialized products without having to tie up cash in inventory. Repayment terms under the Northpoint line of credit include a convenient pay-as-sold option. Distributors can delay repayments of purchases for a period of time under the line of credit until their inventory is sold. Details of the program have already been disseminated to Sullair distributors and internal sales teams.
Sullair sought to partner with a lender that was like-minded in mission and dedicated to the long-term success of its customers. "The keys to our success in the air compressor business are Durability, Innovation and People," said Scott Nelson, president of Sullair. "We wanted a partner that was customer-focused, and we selected Northpoint after evaluating factors such as financial strength, industry experience, and ease of doing business, including online tools. After running a pilot to see what Northpoint could do, we’re very happy with our choice."
Northpoint’s seasoned leadership team has a history of working with manufacturers and distributors in the infrastructure, construction and industrial products segment. “We are pleased to have been chosen by Sullair as their partner and look forward to helping their distributors grow their sales with better cash flow management and the ability to stock to optimum levels of inventory,” said Dan Radley, president of Northpoint Commercial Finance.
Since 1965, Sullair has developed and manufactured air compressors with proven reliability and wear-free durability. Sullair is globally recognized as a leading manufacturer of portable air compressors, contractors’ air tools, stationary air compressors, compressed air treatment equipment and vacuum systems. Additionally, Sullair provides customers with a full line of aftermarket parts, fluids and services. Celebrating its 50th anniversary in 2015, Sullair has manufacturing capabilities in Michigan City, Indiana; Shenzhen and Suzhou, China; Mahindra World City, India; as well as a JV (IHI-Sullair) based in Suzhou.
Accudyne Industries is the parent company of Sullair, and a global provider of precision-engineered, process-critical and technologically advanced flow control systems and industrial compressors that deliver consistently high performance and give confidence to the mission of its customers in the most important industries and harshest environments around the world. Today, Accudyne is powered by ~3,000 employees at 15 manufacturing facilities, supporting a broad range of industries in more than 150 countries.