Geminus Acquisition & Management officially launched Sonoma Capital, a small-ticket equipment financing and leasing provider.
Sonoma Capital will offer equipment financing and leasing solutions to businesses and owner operators in the prime credit space across Canada in the commercial, agriculture, construction, transportation, manufacturing and healthcare sectors.
“After reviewing the equipment finance market in Canada, it was evident that the small-ticket equipment financing space was underserved; there is a need for an independent, non-bank owned and non-public small-ticket platform,” Randy Smyth, CEO of Geminus Acquisition & Management, said. “Over the last decade, many independent portfolios have been acquired by large public financial institutions and the timing is right for this launch.”
Sonoma Capital already began building outs its executive management team prior to its official launch, including hiring Martin Gagnon as vice president of sales, Murray Derraugh as vice president of risk and Scott Clendenan as vice president of syndication. The company will be further supported by Geminus Acquisition & Management’s executive, treasury, accounting and IT teams alongside the other funding platforms within the Geminus ecosystem.
“The people make the difference. We have proven professionals who are well respected in our industry and know how to build great teams who are focused on the customer experience,” Gagnon said. “With our team now in place and equipped with common sense lending solutions, businesses now have another choice when it comes to growing their businesses further.”
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