Nexseer Capital Completes Year of Growth & Transformation
JAN 31, 2019 - 7:05 am
Nexseer Capital marked the completion of 2018 on a trajectory of expansion and transformation, with transaction growth of 23% and direct balance sheet originations growth of 300% over the course of the year.
Nexseer continued to increase volume and balance sheet assets as part of its transformation to a direct lender since the company was acquired by funds managed by Atalaya Capital Management in July 2016. Nexseer also completed a number of strategic initiatives and made several important hires during year.
FYE revenue increased 20%, and while origination dollar volume remained steady during 2018, the company realized a 15% CAGR in originations since acquisition.
Some notable transactions included:
$17 million in Solar Projects for an investment grade corporate and several California cities
The purchase of $2.1 million in lease paper for a medical company emerging from bankruptcy
The commencement of a $36 million progress funding facility for a food processing company
The company, which rebranded to Nexseer Capital from CG Commercial Finance in 2018, also completed a number of important initiatives during the year including:
Expanding its credit facilities
Adding an intermediary buy desk
Expanding the Credit, Accounting and Finance departments
Completing a brand launch
W. Scott McCullum, Nexseer president, said, “2018 was an historic time for our company. We were effectively able to leverage our expanded capabilities and financial strength to help businesses across a wide variety of industries and business situations. While balance sheet strength and funding capacity may serve as the framework of success, it’s our people and their persistent commitment to solving customer problems that makes a year like 2018 a reality.”
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