Following the announcement that Accord Financial sold its U.S. leasing portfolio, Rosenthal & Rosenthal, a factoring, asset-based lending, purchase order financing and inventory financing firm in the United States, announced the completion of a deal to acquire Accord Equipment Finance’s assets.
As part of the deal, Rosenthal will acquire Accord’s U.S. equipment leasing division, which currently serves a wide range of industries, including manufacturing, distribution & logistics, mining and forestry, food and beverage, pharmaceutical, medical and healthcare, technology and telecommunications. Along with acquiring the existing leases, Rosenthal will expand its existing Midwest presence with a new office location in Chicago and welcome business development, underwriting and operations staff from Accord Equipment Finance.
Key staff joining Rosenthal from Accord include:
- Bridget Johnson — SVP, Portfolio and Underwriting
- Michael Wells — SVP, Capital Markets Business Development
- Ivette Morel — Documentation and Funding Manager
- Sahil Sharma — VP, Business Development Officer
- Anish Patel — Associate Underwriter
- Courtney Coleman — Analyst
“With the addition of equipment leasing to our growing suite of products and by welcoming so many talented new professionals from Accord, we are well positioned and have a substantial opportunity to continue expanding the breadth of our financing products to best serve our diverse client base,” Peter Rosenthal, co-president of Rosenthal & Rosenthal, said. “As we find new ways to grow Rosenthal’s presence geographically and enhance our capabilities, we knew we wanted to find an equipment finance partner with a stellar reputation, a commitment to their clients and a ‘credit first’ approach in both the management team philosophy and via its existing portfolio. We are thrilled that Accord checked all the boxes and we look forward to welcoming their team into the Rosenthal family.”
“With this transaction, Rosenthal is adding a fully staffed, full-service equipment finance platform in the U.S., augmenting its leading position in commercial finance,” Simon Hitzig, president and CEO of Accord Financial, said. “Merging resources and the Accord team with the Rosenthal family will allow clients to benefit from the expertise, responsiveness and partnership of a third-generation, family run financial services firm with an excellent reputation and shared core values.”
