Harbor Capital said it has expanded its presence in the leasing industry with the acquisition of Mishawaka Leasing and the formation of Harbor Capital Leasing.

Harbor Capital has acquired Littleton, CO-based Mishawaka Leasing through a partnership with newly appointed president Jane Rethmeier. She has been and continues to be an integral part of Mishawaka since its founding in 2000.

Rethmeier said the acquisition “was a strategic move in the continued development of Mishawaka’s portfolio, and will pave the way to further enhance a growing portfolio through added capital.”

David Shaw, managing director of Harbor Capital, added, “The addition of Mishawaka will give Harbor Capital the ability to offer the financial services of a respected member of the leasing industry.

Furthering its focus to expand its industry presence, Harbor Capital formed Harbor Capital Leasing and appointed Russ Cohen as president. Cohen has been in the leasing industry for nearly 20 years and brings to the group a wide breadth of knowledge and experience. Cohen said, “Although we are enduring a difficult economy, there are noticeable upticks. Still, there are niches within our industry that are not having their financial needs met while the global economy recovers from one of the worst recessions in recorded history.”

With Shaw’s extensive background in the leasing and banking sectors, Shaw added, “This is a confluence of the right people with the right experience, the right skills and the right tools to take advantage of the start of an expansion in the leasing market place.”

Mishawaka Leasing will be responsible for indirect originations, focusing on larger transactions with investment grade lessees. Harbor Capital Leasing will focus on direct originations to a variety of credit qualities with viable credit options. Harbor Capital will continue to selectively offer financing for story credits to lessors and brokers alike. In each of the units the primary focus will be on capital equipment.