High End Systems Inc.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,” says 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 and notes, “I was excited by the outstanding team of innovators when I joined High End. The seasoned professionals at Wachovia have always provided banking support to companies where I have been fortunate enough to be part of senior management. Entertainment lighting is a fun industry and it is amazing to see the excitement that lighting designers create with our products.”
About High End Systems - Headquartered in Austin, Texas, High End Systems Inc. is the world's leading innovator and manufacturer of automated and digital lighting instruments, and lighting control systems. In its fourth decade, High End Systems has pioneered technology that defines the industry. High End System products are specified by discerning lighting designers on a global basis and distributed through its dealer and distributor network.