Philadelphia — The distributor channel is in expansion mode, as reflected in new developments at industry stalwarts Almo and PowerHouse Alliance.
Almo, the national majap and CE distributor, has signed a five-year, $200 million revolving credit facility to help fuel expanded product offerings and service capabilities.
The syndicated loan is led by long-time lender Citizens Bank. It is also backed by Wells Fargo and Bank of America, and has an accordion feature that will allow Almo to increase the facility to meet future funding needs in accordance with projected sales growth.
“We appreciate this vote of confidence,” Almo chairman Gene Chaiken said.
Meanwhile, the PowerHouse Alliance, a consortium of 13 regional CE, CI and IT distributors, has added a 40th distribution center to its membership’s warehouse base.
The facility, opened by Consumer Electronics Distributors (C.E.D.), is located in Bloomington, Minn., and features state-of-the-art automation, a will-call area, and will be serviced by a combination of express delivery services and C.E.D.’s own delivery trucks.
“The addition of a new venue signifies not only the strength and viability of the consumer electronics industry, but also the continued momentum for our distributor members and the Alliance as a whole,” observed PowerHouse executive director Dennis Holzer.