<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_______________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: October 13, 1998
----------------
(Date of earliest event reported)
HELLER FINANCIAL, INC.
----------------------
(Exact name of registrant as specified in its charter)
Delaware
--------
(State or other jurisdiction of incorporation)
1-6157 36-1208070
------ ----------
(Commission File Number) (IRS Employer Identification Number)
500 West Monroe Street, Chicago, Illinois 60661
----------------------------------------- -----
(Address of principal executive offices) (Zip Code)
(312) 441-7000
--------------
(Registrant's telephone number, including area code)
<PAGE>
Item 5. Other Events
- ------- ------------
On October 13, 1998, Heller Financial, Inc. ("Registrant") issued a press
release announcing the signing of a purchase agreement to acquire $700 million
of assets associated with the US and international information technology
leasing business of Dana Corporation, located in Troy, Michigan.
Item 7. Financial Statements and Exhibits
- ------- ---------------------------------
(c) Exhibits
99 Press release of the Registrant dated October 13, 1998.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
Dated: October 13, 1998
----------------
HELLER FINANCIAL, INC.
By: /s/ Lauralee E. Martin
----------------------
Lauralee E. Martin
Title: Executive Vice President and
Chief Financial Officer
2
<PAGE>
EXHIBIT INDEX
Exhibit Sequentially
Number Numbered Pages
- ------ --------------
99 Press Release of the Registrant dated October 13, 1998. 4-5
3
<PAGE>
Heller Financial Announces Purchase Agreement to Acquire Information
Technology Leasing Assets from Dana Corporation's Leasing Operation
(Chicago, IL, October 13, 1998) -- Heller Financial, Inc. (NYSE: HF) today
announced it has signed a purchase agreement to acquire approximately $700
million in assets associated with the US and international information
technology leasing business of Dana Corporation (NYSE: DCN). Part of Dana
Commercial Credit Corporation, this business group specializes in providing
customized leasing and financing programs for information technology and office
automation equipment for manufacturers, distributors and franchisors, including
Apple Computer (US, UK, Canada, Switzerland and Germany), Avnet (US), Ingram
Micro (Germany), MicroAge, Inc. (US), Mitsubishi Electric PC Division (UK and
Germany) and Pinacor (US). Terms of the agreement were not disclosed. Closing
is expected to occur during the fourth quarter of 1998, following approval by US
and foreign agencies.
"We're pleased to be adding to Heller's product and market expertise from an
industry leader of the stature of Dana Commercial Credit, the only leasing
company ever to be awarded a Malcolm Baldrige National Quality Award," said
Richard J. Almeida, Heller's Chairman and Chief Executive Officer. "When
completed, this purchase of assets will help Heller build scale both
domestically and internationally in this high growth market sector. It also
will provide us with a new platform to support small-ticket leasing activities
and enhance our ability to cross-sell products to our existing customer base.
DCC's complementary assets will not only add to Heller's more than $3 billion of
existing leasing assets, but the transaction also immediately positions us to be
a leading provider of global vendor finance programs, significantly expanding
our vendor leasing capabilities in the United Kingdom, Germany, France,
Switzerland and Canada."
"As a relatively new publicly-held company with aggressive long-term goals, we
believe this transaction underscores Heller's commitment to growth in our core
businesses," added Almeida. "Financially, we expect this transaction to be
accretive to earnings in 1999 and a source of strong revenue growth in the
future."
"The group's position as a leader in the technology leasing market should only
be enhanced by Heller Financial's global capabilities, complementary product
offerings and strong commitment to growth," said Edward Shultz, Chairman and
Chief Executive Officer of DCC.
One of seven Dana Corporation strategic business units, DCC provides leasing
and financing services to a broad range of business customers in selected
markets. As one of North America's top leasing companies, DCC has assets owned
and under management totaling $4.5 billion in original asset value. Dana
Corporation, a leading global supplier of vehicular components and systems, had
1997 pro forma sales of $11.9 billion.
Heller Financial, Inc., a worldwide commercial finance company with lending
assets of nearly $13 billion, went public in May of 1998 in what was one of the
largest IPO's over the past two years. Heller provides its middle-market and
small business clients with equipment financing and leasing, factoring and
working capital loans, collateral-based financing, cash flow financing, real
estate financing and small business
4
<PAGE>
lending. The Company also operates through joint venture and wholly-owned
companies located in 19 countries in Europe, Asia, Australia and Latin America.
These companies specialize in factoring, collateral-based financing, acquisition
financing, leasing, vendor financing and trade finance.
# # #
5
