Former PNC Equipment Finance Executives Launch Verdant Commercial Capital
JUN 25, 2018 - 7:49 am
Verdant Commercial Capital launched as an independent equipment finance company in the second half of 2017. Headquartered in Cincinnati Ohio, Verdant will be primarily focused on providing financing solutions supporting vendor partners.
Verdant is led by CEO Mike Rooney, EVP John Merritt and Chief Credit Officer Chris Kelley. Rooney is the former co-founder of Information Leasing (ILC) and EVP of PNC Equipment Finance (PNCEF). Merritt is a former GM of multiple business units within PNCEF. Kelley is the former chief credit officer for National City Commercial Capital and Credit Executive at PNCEF. This Verdant team draws upon decades of industry experience including growing a small independent finance company into one of the largest bank-owned equipment finance companies in the industry.
Verdant will build its balance sheet supported by the patient capital of a large private family office and an expansive senior debt facility from one of the largest banks in the U.S. The executive team’s intent is to combine the discipline learned over years in banking with flexible capital and entrepreneurial enthusiasm to serve vendor partners with speed, agility and smart solutions.
Verdant’s initial focus will be in the broad segments of specialty vehicle, construction, technology, energy efficiency/renewables, industrial and office dolutions.
Every business and segment is unique and has unique needs. Not every equipment financing firm is in a place to meet those needs,” Merritt said. “We are. We have the expertise, discipline and balance sheet of a bank but the flexibility of an entrepreneurial independent. Together, we can tailor a solution to meet our customer’s needs.”
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