Industry

Ritchie Bros. Sells More Than $60MM of Equipment Auction in Fort Worth, TX

Ritchie Bros. held its second Fort Worth, TX, auction of the year, selling more than $60 million of equipment and trucks for more than 700 consignors. The three-day online auction yielded year-over-year gross transaction value growth of approximately 9%. read more

Lloyds Bank Partners with Alfa to Enhance Asset Finance Journey

As part of its updated partnership with Alfa, Lloyds Bank will transition to Alfa Systems v5, a cloud-based system that will automate its asset finance solution’s customer servicing, income collection and recovery and pay-out handling. read more

QuickFi Wins Best in Show Award at Finovate Spring 2022

QuickFi was voted best in show at Finovate Spring 2022, a financial technology event series and digital engagement platform. QuickFi participated with 52 other companies at the event. read more

Encina Equipment Finance Provides $20MM Loan to Auto Repair Company

Encina Equipment Finance provided a $20 million loan to an automobile repair company for the purchase of various equipment for new store locations. read more

Inspiration Mobility Secures $215MM in Capital, Adds New Leadership

Inspiration Mobility, a sustainable infrastructure platform dedicated to accelerating the electrification of transportation, secured an additional $215 million of capital and added Gary Gadsden and Chris Getner to its leadership team. read more

Equipment Finance Industry Confidence Decreases in May

According to the Equipment Leasing & Finance Foundation’s May 2022 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI), overall confidence in the equipment finance market is 49.6, a decrease from the April index of 56.1. read more

Equipment Finance Cares to Host Next Event on June 21 in Roseville, MN

Equipment Finance Cares will hold its next event on June 21 from 1:30 p.m. to 7 p.m. CST at the Midland Hills Country Club in Roseville, MN. read more

Ritchie Bros. Reports Slowing M/M Price Inflation Rates for Most Equipment Types

In its May market trends report, Ritchie Bros. reported pricing is still up year over year, but some month-to-month inflation rates are slowing. For example, in the United States, truck tractor prices are up approximately 52% year over year after they were up 58% year over year in last month's report. read more

Ritchie Bros. Sells More Than C$102MM of Equipment at Ontario and Manitoba Auctions

Ritchie Bros. conducted its largest-ever auctions in Ontario and Manitoba, selling more than C$102 million ($78 million) of equipment and trucks. The auctions attracted 11,900 registered bidders to compete for more than 6,400 items at both events. read more

CLFP Foundation Adds 14 New CLFPs and Associates

The Certified Lease & Finance Professional (CLFP) Foundation added 14 CLFPs and associates. read more

BrightReps Rebrands as FlowEQ, Expands Workflow Acceleration Platform

BrightReps rebranded as FlowEQ and unveiled an expanded solution that goes beyond customer support to help all teams that need to accelerate important recurring workflows. read more

Inc. Magazine Names Dakota Financial as One of the Best Workplaces for 2022

Inc. Magazine named Dakota Financial to its 2022 Best Workplaces list. The Inc. Magazine Best Workplaces list recognition is awarded to companies that have a clear purpose and strong leadership that makes the parts work together. read more

Crestmark Provides More Than $12MM in Equipment Finance Transactions in H2/April

Crestmark Equipment Finance provided $10,080,680 in 11 new large-ticket transactions and $2,320,351 in 20 new small-ticket vendor transactions in the second half of April. read more

ACT Research: April Preliminary US Net Orders Slid 58% M/M

ACT Research’s preliminary reports show that net trailer orders in April were 16,100 units, down almost 60% from the previous month and up slightly from the same month last year. read more

CIT Arranges $714MM for Thermal Generation Assets Managed by Middle River Power

CIT’s power and energy business served as coordinating lead arranger on $714 million in financing for a portfolio of thermal generation assets in California. The proceeds will be used to refinance a 1.8-gigawatt portfolio managed by Middle River Power. read more

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Terry Mulreany
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