News

ACT Research: US Used Truck Sales Volumes Lag in April

Preliminary used Class 8 volumes (same dealer sales) fell 40% month-over-month in April, and were 33% lower compared to April of 2021, according to ACT Research. 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

Sumitomo Mitsui Hires Berg to Launch Specialty Vehicle Business

Sumitomo Mitsui Finance and Leasing hired Gregory Berg as director of its Transportation Finance Group. Berg will be responsible of launching the Specialty Vehicle business for SMFL to strengthen their footprint in the transportation market. read more

CLFP Foundation Adds 14 New CLFPs and Associates

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

BOK Financial Appoints Andrews to Lead Healthcare Banking

Scott Andrews was named executive director for BOK Financial’s Healthcare Banking line of business, serving clients in the senior housing, skilled nursing, health systems, physician practice and medical services segments. read more

Closing Date of MUFG Union Bank Sale to U.S. Bancorp Moved to H2/22

As the U.S. regulatory approval process continues, the closing of the sale of MUFG Union Bank to U.S. Bancorp has been shifted to H2/22, subject to the receipt of required regulatory approvals and the satisfaction of other closing conditions. 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

Black Buffalo 3D Launches Financing Subsidiary for 3D Construction Printers

Black Buffalo 3D, a manufacturer of NEXCON printers and proprietary 3D construction ink, launched a new subsidiary, Black Buffalo 3D Financial, which will offer financing and renting of large-scale 3D construction printers. read more

KeyBank and Beach Point Launch Middle-Market Direct Lending Program

KeyBank and Beach Point Capital Management, a credit focused investment manager, established a new joint venture middle-market direct lending program with $1.5 billion in lending capacity for U.S. middle-market clients. read more

Octane Closes $375MM ABS Transaction Secured by Powersport Equipment Loans

Octane, a financial technology company providing financing for recreational vehicles, closed a $375 million securitization (OCTL 2022-1), which is collateralized by fixed-rate installment powersports and outdoor power equipment loans. read more

M&T Bank Names Robinson Regional President for Tarrytown, NY

M&T Bank named Tyré Robinson regional president for Tarrytown, NY. She will also continue to serve in her previous role as business banking lead for the Tarrytown and Hudson Valley regions in New York, a role she has held since 2020. read more

Huntington National Bank Acquires Fintech Torana

Huntington National Bank acquired Torana, a business-to-consumer payments financial technology company based in San Francisco. Torana's digital payment solution for Huntington will launch as Huntington ChoicePay. read more

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Terry Mulreany
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