Ascentium Capital announced the merger of American Equipment Finance and the appointment of Richard A. Baccaro as executive vice president of Sales and Marketing. He will be responsible for managing the sales operations of Ascentium Capital.

As senior vice president of Sales, Len Baccaro will be responsible for direct originations in the Petroleum, Convenience Store, Car Wash and Franchise Industries.

Richard A. Baccaro, co-founder and President of American Equipment Finance since 2002, has over 25 years of experience serving the equipment financing industry. In 1991, he co-founded Independent Capital Corp (ICC) with his brother Len. First Sierra Financial acquired ICC in 1998. Richard was the Executive Vice President at First Sierra prior to its acquisition by American Express and was responsible for the sales team and $1 Billion of annual originations. Len was Vice President of Sales in the New Jersey office for First Sierra until he co-founded American Equipment Finance in 2002. With more than two decades of industry expertise, Len is a trusted financing resource for countless sales organizations, spanning multiple vertical markets.

Tom Depping, CEO of Ascentium Capital, stated: “We look forward to working with Richard and Len as we reunite a winning sales team from First Sierra. Richard brings 25 years of sales management experience and the entrepreneurial spirit needed to build a top tier sales force and make Ascentium Capital a premier company in the small ticket market place.” According to Depping, “Len adds a solid knowledge and customer focus. I am happy to reconnect with these two talented individuals.”

Richard A. Baccaro noted: “Tom Depping has once again put in place some of the industry’s best minds to support a tremendous platform providing manufacturers, dealers and distributors with a war chest of capital to help their clients with cost effective and innovative financing solutions. This capital is provided by world-class private partners that will allow us to operate effectively as an unregulated entity. Ascentium Capital will be an engine for job creation and provide much needed liquidity to all types of businesses in America. All of us at AEF are honored to become part of Ascentium Capital and we look forward to building Ascentium’s sales force.”

Ascentium Capital offers a wide variety of equipment loans and leases for capital expenditures across many industries nationwide.