LEC TEAMS UP WITH GOVERNMENT CAPITAL TO OFFER LEASE-PURCHASE TECH UPGRADE FINANCING TO MUNICIPALITIES

NEWS RELEASE

For Immediate Release: Friday, July 10, 2020


Press Contact: Liz Densmore; Ldensmore@LECINC.com; 601.939.8535


Jackson, MS -- LEC, leaders in automation control engineering and Industrial Internet of Things (IIoT), announces a joint initiative with financial leaders at Government Capital Corporation to provide cost-effective technology upgrade financing options to municipal clients via a new Municipal Lease-Purchase Finance Program.

LEC’s vast experience in municipal water and wastewater, combined with Government Capital’s finance expertise, cohesively align to provide structured lease-purchase financing options to municipal clients, allowing them to obtain much-needed, affordable technology upgrades during this time of extensive budget constriction.

“We performed a great deal of market due diligence prior to choosing Government Capital. Simply, Government Capital will offer our clients the best possible funding options, while also bringing a wealth of financial expertise to our partner channel,” said Brian Rosema, LEC’s VP of IIoT. “Given the budget challenges municipalities face, many times in addition to aged infrastructure and outdated technology, we knew we had to find the best possible partner to help our clients, and that has proven to be the financial leaders at Government Capital.”

The 12-month payment deferral portion of the lease-purchase financing structure provided by Government Capital will allow LEC’s municipal clients to obtain long-overdue technology and equipment upgrades today, while eliminating future cost increases.

“We know municipalities and utilities are continually being asked to do more with less,” said Ed King, Senior Vice President at Government Capital Corporation. “Through our collaboration with LEC, utilities and municipalities will realize the immediate benefits of LEC’s technologies and expertise – just when they are needed the most.”

For more information on the benefits and features of the new Municipal Lease-Purchase Finance Program, visit www.LECINC.com.



About LEC: LEC provides industrial automation control engineering, and industrial IoT (IIoT) enablement and cloud platform services of the highest quality with an unending commitment to our Clients, Strategic Partners and Communities. Through Client and Partner engagement, technical innovation, research and investment in the brightest human resources, we engineer smarter systems to achieve complete satisfaction of those we serve. With each project, our goal is to establish a new standard of quality and professionalism. For more information visit, www.LECINC.com. Also, follow us on Facebook, Instagram, Twitter and LinkedIn, and watch our latest videos on YouTube.

About Government Capital Corporation: Government Capital Corporation is a leading public finance firm specializing in alternatives to traditional bond financing for cities, counties, utilities, and other special districts. Since its founding in 1992, the company has successfully completed over 9,000 public sector financings in the U.S. totaling more than $4 billion. For more information, visit govcap.com.