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High End Results Drive New Financial Achievement
High End Systems has announced the completion of a new $9 million line of credit with Wachovia Bank, NA.
“Our strong financial performance during the last three fiscal years has allowed us to team up with one of the largest banks in America,” said Frank Gordon, HES chief executive officer. “We intend to use the new facility to further support technology innovation and its global sales effort.”
“High End sales revenue continue to grow dramatically in Europe, the Middle East and Asia and we have now strengthened our position to provide customers more financing options and to support dealer sales with more demonstration equipment,” said Bill Morris, HES executive vice president.
Merritt Belisle joined High End Systems as Chairman in January. “I was excited by the outstanding team of innovators when I joined High End,” Belisle said. “The seasoned professionals at Wachovia have always provided banking support to companies where I have been fortunate to be part of senior management. The relationship with Wachovia allows High End to continue leading the industry in technology innovation. Entertainment lighting is a fun industry and it is amazing to see the excitement that lighting designers create with our products.”
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