Verdant Commercial Capital Acquires Machine Tool Financier Intech Funding

Verdant Commercial Capital of Cincinnati, OH acquired Intech Funding of Monrovia, CA. Intech is focused on financing and leasing for manufacturing companies nationwide.

Intech will operate as a wholly-owned subsidiary of Verdant and maintain its operations in Monrovia. All of Intech’s employees will continue in their current roles and capacities, including Jeff Glikman and Ric Rivett as president and senior vice president, respectively. Intech is currently a provider of machine tool financing with more than $1 billion in lending for manufacturing companies since 1995.

“I believe Intech and Verdant will be a powerful combination with greater strategic depth than we could have accomplished on our own,” Glikman said. “The combination benefits our customers, vendors and employees thus positioning Intech to be an even greater force in the marketplace.”

Verdant is led by CEO Mike Rooney and a management team that helped grow PNC Equipment Finance into one of the largest equipment finance companies in the country. Verdant operates in five principal markets: technology, office products, energy efficiency, specialty vehicle and industrials.

“I’ve long admired the way Jeff and Ric managed Intech. Their reputation in the machine tool market is unsurpassed and well deserved. Adding like-minded professionals, like the Intech team, that are focused on providing superior support to customers and vendors is what Verdant is all about,” Rooney said. “We look forward to continuing the Intech success story”.

Verdant’s acquisition of Intech closed on June 29, 2018. No financial terms were disclosed. The Alta Group initiated the transaction and served as exclusive financial advisor to Intech Funding Group.

Like this story? Begin each business day with news you need to know! Register now for FREE Daily E-News Broadcast and start YOUR day informed!

  • Hidden
  • RAM Group Holdings does not share or sell your personal information. The information we ask you to furnish is limited to what is needed to process your order fully and completely. You may unsubscribe at any time. View our Privacy Policy.
  • Please Confirm permission for Monitor/Monitordaily to e-mail you.
  • Hidden

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
Susie Angelucci
Advertising: 484.459.3016

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.