INDUSTRY NEWS

 

Reich Bros to Provide $30MM Financing to Cannabis Cultivator Flower One

Reich Bros Commercial Finance signed a master lease agreement with cannabis cultivator Flower One Holdings for lease financing of up to $30 million. The funds will be used for certain equipment at the company’s 455,000 square foot greenhouse and production facility in North Las Vegas, NV.

Caterpillar Makes Several Officer Changes, Creates New Divisions

Caterpillar shifted several officers into leadership positions, which included changes in responsibilities for three executive office members, new roles for two current vice presidents and the appointment of two new vice presidents. This included shifting the role of Tom Pellette to SVP of Caterpillar and president of Solar Turbines.

GreatAmerica Completes $612.2MM Securitization

Independent small ticket national commercial equipment finance company GreatAmerica Financial Services completed its 18th term securitization of $612.2 million in privately placed bonds with institutional investors. GreatAmerica used proceeds from the securitization to pay off debt in its warehouse and credit facilities in order to support continuous growth.

Marlin Re-Brands as Marlin Capital Solutions, Launches New Identity

Lending products and services provider Marlin launched its new brand, Marlin Capital Solutions, to better reflect the breadth of services it offers to small businesses and equipment finance partners. The new brand reflects Marlin’s transformation into a source of offerings that include flexible financing solutions for small businesses to quickly and easily get the capital they need.

GSG Finances $117MM in Originations in 2018

Equipment finance company GSG Financial financed record originations of $117 million in 2018. The growth came from both captive and outsourced equipment as GSG expanded its major account program. With the launch of GSG Asset Management and Remarketing, GSG saw significant interest from third party lessors for asset management services and was able to exceed 200% of residual realization on its own portfolio.

International Decision Systems Re-Brands as IDS

International Decision Systems, a global provider of technology solutions for asset and equipment finance, changed its name to IDS. Formal adoption of the IDS name, creation of new branding and a re-launched website will showcase the company’s commitment to delivering solutions that empower their customers. •

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