Last Updated: May 16, 2012

News — New Ventures

SWK Holdings Launches Specialty Finance Business

SWK Holdings said it has hired J. Brett Pope and Winston L. Black III as its CEO and managing director, respectively to build a specialty finance and asset management business.

Northpoint Commercial Finance Enters Marine Industry

Newly formed Northpoint Commercial Finance, an inventory finance company, announced its entry into the marine industry. The company is majority owned by affiliates of Perella Weinberg Partners’ asset-based value strategy.

Signature Bank Names Rabin to Lead New Specialty Finance Group

Signature Bank said it has formed a new subsidiary, Signature Financial, focused on equipment finance and leasing, transportation financing and taxi medallion financing. Walter Rabin, joins Signature Financial as president in June 2012, will lead the team.

TCF Launches TCF Capital Funding

TCF National Bank announced the creation of a new commercial banking division called TCF Capital Funding. The new unit will specialize in asset-based and cash-flow lending to smaller middle-market companies across the U.S.

Perella Affiliate, Others Form Northpoint Commercial Finance

Perella Weinberg Partners said that Perella Weinberg Partners’ Asset Based Value strategy partnered with a team of industry veterans to form Northpoint Commercial Finance, a non-auto inventory finance lender.

CNH Expands Presence in Hay & Forage Business

CHH announced a long-term strategic partnership with a Norwegian maker of fixed chamber round balers, compactors and tractor trailers. CNH notes the partnership was a sign of CNH’s intention to strengthen its presence in the hay & forage business.

Balboa Launches Commercial Vehicle Vendor Finance Program

Balboa Capital announced the hiring of five professionals for its newly formed commercial vehicle vendor financing team. Jack Hirsh, Jim Bryan, Brian McDermott and Richard Parker are regional managers, and Wayne Pass is credit manager.

Read more...
Date Posted February 29, 2012

Wells Fargo Capital Finance Launches Channel Finance Division

Wells Fargo Capital Finance said it has launched its Channel Finance division, which will provide worldwide channel financing solutions to resellers, distributors and vendors in the technology industry.

Read more...
Date Posted February 22, 2012

Lease Corp International Launches Helicopter Division

Lease Corporation International said it has signed an agreement covering the purchase of a fleet of AgustaWestland helicopters for a new division being set up by the lessor. The contract is valued in excess of $400 million.

Read more...
Date Posted February 13, 2012

Hudson Adds Large Ticket Unit to Element Financial

Steve Hudson, CEO of Element Financial, said Tony Bergeron has been appointed executive vice president and will lead Element Capital, a newly formed business unit dedicated to large equipment finance and leasing transactions.

Read more...
Date Posted January 30, 2012

NXT Capital Launches Venture Finance Business

NXT Capital announced the launch of NXT Capital Venture Finance to be led by Jan Haas, former president and CEO of Velocity Financial Group and a 15-year industry veteran.Haas will be joined at NXT Capital by the entire Velocity Financial Group team.

Read more...
Date Posted October 17, 2011

Balboa Capital Launches Hotel-Specific Franchise Finance Program

Balboa Capital said it has just launched a hotel-specific franchise finance program to assist franchisees within the lodging and hospitality industry.

Read more...
Date Posted October 12, 2011

SunGard Creates Ambit Asset Finance Through Acquisition

SunGard said it acquired Northern Arch’s 42 solution, a global leasing and financing process management solution. The acquisition creates a new business within SunGard for asset finance and leasing, which will be integrated into SunGard’s Ambit solution portfolio within the corporate banking business unit.

Read more...
Date Posted October 4, 2011

Enterprise Bank Launches Business Finance Group

Enterprise Bank & Trust said it has established Enterprise Bank Business Finance Group to provided asset-based lending services to businesses in its St. Louis, Kansas City and Phoenix markets. Daniel W. Fridrich, formerly with M&I Bank, will lead the group.

Read more...
Date Posted September 1, 2011

Deutsche Bank Alumni Form Meridian Asset Finance

Meridian Investments announced the formation of Meridian Asset Finance to be led by Rob Martorano, former Americas head of Deutsche Bank Securities’ Asset Finance and Leasing Group.

Lease Police, RTR’s Inspection Services Form Strategic Alliance

Lease Police of Plano, TX and Inspection Services, a division of RTR Services of Salem, OR, announced the formation of a strategic alliance, which gives leasing and finance companies the due diligence required to fully understand both new and existing vendor finance relationships.

Crane Aircraft Partners Launched to Focus on Aviation Industry

Crane Aircraft Partners has been formed to provide new investment options for investors, including direct investments in commercial aviation assets and the first aviation focused equity long/short hedge fund.

Macquarie Starts Mining Equipment Finance Business

Macquarie said it has established a new equipment finance business focused on yellow goods in the mining sector. Clients range from junior miners to multinationals and include industry participants such as mine owners, contractors and equipment manufacturers.

Regions Bank Launches Technology & Defense Banking Group

Regions Bank said it has formed a technology & defense banking group and named David Sozio to lead this effort. Regions will provide a full range of services with an emphasis on advisory services, syndicated financing and debt capital.

RTR Services Launches New Inspection Services Division

RTR Services announced the launch of a new Inspection Services division to assist brokers, lessors and funding sources with pre- and post-funding equipment inspections, site inspections and collection assistance. Jim Merrilees will lead the new division.

U.S. Bancorp Equipment Finance Launches Government Leasing Group

U.S. Bancorp Equipment Finance announced it created a new government leasing and finance group. The business unit will be led by Christopher Jones, senior VP and director, and will provide quality, tax exempt and taxable financing products to municipal and non-profit organizations nationwide. “This expansion into the tax exempt arena provides us with another opportunity [...]

Veteran Industry Execs Form Panthera Leasing

A team of veteran leasing industry executives has formed Panthera Leasing, opening its first office in the San Francisco financial district. Panthera has secured commitments for major transaction funding and will acquire operating leasing and equipment rental companies engaged in capital equipment leasing or rental. In addition, Panthera’s access to capital allows it to act [...]

Balboa Capital Forms New East Coast Team, Bolsters Vendor Services Division

Balboa Capital announced the formation of Balboa East and the hiring of Kortney Murray, Christopher Murray, Allison Bromfield, Kristin Thayer, Will McGrew, Ian Trowell, Adam Marcello, Nicholas Kalman, Don Sutherland and William Cusick. “As we initially envisioned, the New England area has some very talented and productive salespeople in the equipment leasing, merchant cash advance [...]

Read more...
Date Posted February 15, 2011

Municipal Leasing Veteran Stephans Joins CSI to Form New Division

CSI Leasing announced Dennis Stephans and the employees of Chicago-based Academic Capital Group, the 15 year old firm specializing in lease financing for municipalities, government and educational institutions, have joined CSI. Stephans and his team will operate as a new division of CSI, CSI Government and Education Finance (CGEF), and will continue to be based [...]

Read more...
Date Posted February 14, 2011

People’s Capital and Leasing Expands Into Business Aviation, Hires Two Industry Veterans

People’s Capital and Leasing announced the appointment of Bob Sommers and Jim Pulie, both vice presidents of sales, to launch its newly created business aviation segment. This expansion will target large and mid-sized owners and operators of business aircraft, including jets, turboprops and helicopters. PCLC, with a portfolio of $1.4 billion, has experienced steady growth [...]

Read more...
Date Posted February 10, 2011

Stonehill Business Credit Launched by MotivNation

MotivNation announced the formation of Stonehill Business Credit Corporation, as a wholly owned subsidiary of the company. Stonehill plans on creating a diversified investment portfolio of asset backed financial products to address the capital needs of small and middle market businesses. Among its services Stonehill will provide customized leasing and finance programs dedicated to meet [...]