TOP 10 NEWS STORIES OF 2018
During the calendar year, the editors of Monitor posted and broadcast 2,000 news stories. Shown below are the top 10 stories of the year, ranked in order of reader popularity.
Former PNC Equipment Finance Executives Launch Verdant Commercial Capital
Verdant Commercial Capital launched as an independent equipment finance company in the second half of 2017. Headquartered in Cincinnati, Verdant is led by CEO Mike Rooney, EVP John Merritt and Chief Credit Officer Chris Kelley.
ENGS Commercial Finance Acquired by Mitsubishi UFJ Lease & Finance
ENGS Commercial Finance’s shareholders, led by private equity firm Aquiline Capital Partners, entered into an agreement to sell all shares of ENGS to Mitsubishi UFJ Lease & Finance, a global leasing company headquartered in Tokyo.
Fifth Third, MB Financial Merge in Transaction Valued at $4.7B
Fifth Third and MB Financial signed a definitive merger agreement under which MB will merge with Fifth Third in a transaction valued at approximately $4.7 billion. Approximately 90% of the consideration will be in stock with the rest in cash.
People’s Capital Adds Three Former Siemens Financial Services Execs
People’s Capital and Leasing appointed equipment leasing and finance veterans Michael Mehosky, James Mengacci and John Fitzgerald to its sales team. The trio came from Siemens Financial Services, where they focused on material handling, machine tools and construction.
ELFA Announces Top 10 Equipment Acquisition Trends for 2018
The ELFA revealed its top 10 equipment acquisition trends for 2018. ELFA expects to see an estimated $1.6 trillion spent on capital goods or fixed business investment this year with businesses expected to make their largest capital investments since 2012.
York to Lead Combined Fifth Third, MB Equipment Finance Business
According to an SEC filing, Fifth Third Bancorp provided an organizational update on the planned merger between Fifth Third and MB Financial. EVP and COO Lars Anderson announced Jill York will head equipment finance and leasing in the combined organization.
Investors Bank Launches Equipment Finance Group
Investors Bank is launching an equipment finance group that will enhance its C&I lending capabilities with middle market companies. An experienced, seven-person team of equipment financing professionals, led by Group Leader Kenneth L. Walters, has joined Investors.
TIAA Acquires $1.5B GE Capital Healthcare Equipment Financing Portfolio
TIAA Bank acquired a $1.5 billion portfolio of healthcare equipment leases and loans from GE Capital’s Healthcare Equipment Finance business. The sale comes as GE Capital seeks to become smaller and more focused.
BancorpSouth Adds 6 to Equipment Finance Team
BancorpSouth added Lori Dean as SVP/director of Operations, Whit Ross as VP/credit manager, Teena Smith as an operations specialist and Shawn Lowe, Zane Burgess and Dawn Day as VPs/equipment finance specialists to BancorpSouth Equipment Finance and Leasing.
Top Five Lenders Account for 70.1% of New Equipment Filings in June
Statistical data provided by EDA showed the top 20 lenders encompassing agriculture, construction, lift trucks, logging equipment, machine tools, office equipment, printing, trucking and woodworking covered a total of 21,989 equipment-related filings during June 2018.