Archives for News

NEF appoints Susan O’Donovan as CFO

Nations Equipment Finance (“NEF”) is pleased to announce the appointment of Susan O’Donovan as Chief Financial Officer.  Susan joins Nations with over 15 years of asset management experience and 10 years of structuring and securitizing specialty finance portfolios.

Susan was most recently with Castleton Commodities International as the Executive Director, Head of Controller Project Management and Strategic Initiatives.  Susan’s past experience includes controllership and treasury roles with asset managers Plainfield Asset Management, Wexford Capital and Smith Management.  She was also involved in the growth and public offering of ContiFinancial Corporation who serviced a $20 billion portfolio of consumer and commercial loans.  Susan also served as the Manager of Financial Reporting for GE Capital.  Susan began her career as an auditor for PriceWaterhouse. She holds a BBA in Accounting from the Ross School of Business at the University of Michigan.

“We are excited that Sue O’Donovan has joined our company as Chief Financial Officer,” said Phil Carlson, CEO of Nations. “Her 25 years of finance and controllership experience along with her experience in the securitization market is going to be of great value to our company. We are glad that she is part of the Nations team,” Carlson added.

Nations Equipment Finance specializes in providing equipment leases and loans across a wide spectrum of asset classes including construction, transportation, manufacturing, aerospace and marine for small and medium sized businesses throughout the United States and Canada. Their transactions range in size from $1 to $50 million and focus on the underlying collateral value. Nations uses this collateral specific approach for both new and used equipment financings with terms between 3 and 7 years. To learn more about Nations Equipment Finance visit www.nationsequipmentfinance.com.

Read more

Tom Fanelli to Retire as Chief Risk Officer of NEF

Tom Fanelli, Chief Risk Officer will be retiring from Nations Equipment Finance after fifty years in the Equipment Finance Industry. Tom started in the equipment finance business in 1967 as a collector with what was then known as General Electric Credit Corporation. He rose in the company to become a GE Capital Officer and the Chief Risk Officer for the Commercial Equipment Finance Division of GE Capital. He retired from GE in 2009 and joined a group of GE Capital colleagues in founding Nations Equipment Finance. Nations opened for business in 2010 and has grown to be one of the largest independent equipment finance businesses in the United States.

“Tom Fanelli is well known in the Equipment Finance Industry and we are sad that he is retiring,” said Phil Carlson, CEO of Nations. “He was an important member of our management team and helped us to build our company. We wish him all the best in his retirement,” Carlson added.

Read more

DBRS Upgrades Nations Equipment Finance Funding Ratings

DBRS, Inc. (DBRS) has today upgraded two classes of two outstanding public ratings. The rating actions are based on the current credit enhancement levels being sufficient to cover DBRS’s expected losses at their current respective rating levels.

The ratings are based on DBRS’s review of the following analytical considerations:

  • Transaction capital structure, proposed ratings and form and sufficiency of available credit enhancement.
  • The transaction parties’ capabilities with regard to origination, underwriting and servicing.
  • The credit quality of the collateral pool and historical performance.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is the DBRS Master U.S. ABS Surveillance Methodology, which can be found on our website under Methodologies.

The rated entity or its related entities did participate in the rating process. DBRS had access to the accounts and other relevant internal documents of the rated entity or its related entities.

Please see attached appendix for additional information regarding sensitivity of assumptions used in the rating process.

RATINGS

Issuer Debt Rated Rating Action Rating Trend Notes Published Issued
Nations Equipment Finance Funding II, LLC Equipment Contract-Backed Notes, Series 2014-1, Class A Upgraded AA (sf) Feb 15, 2017 US
Nations Equipment Finance Funding III, LLC Equipment Contract-Backed Notes, Series 2016-1, Class A Upgraded A (high) (sf) Feb 15, 2017 US
US = USA Issued, NRSRO
CA = Canada Issued, NRSRO
EU = EU Issued
E = EU Endorsed
Unsolicited Participating With Access
Unsolicited Participating Without Access
Unsolicited Non-participating

 

Read more

Nations Equipment Finance announces the appointment of Liam Austin – McClellan as Vice President – Sales

Norwalk, CT – October 19, 2016 – Nations Equipment Finance, LLC (“NEF”) is pleased to announce the appointment of Liam Austin – McClellan as Vice President – Sales. In this role, Liam will be responsible for originating equipment lease and loan transactions in NEF’s Northeast Sales Region. Liam has over 6 years’ experience in sales and business development.

“I am thrilled to join the equipment finance team at NEF.  With over 200 years in combined equipment finance experience, NEF will help me provide the best financial solutions to my clients.  I look forward to being involved in the continued success of NEF.” Liam said. “With competitive and economic challenges, our clients are consistently pressured to secure creative sources of capital. We are very happy to have Liam join our team and to participate in NEF’s growth” commented Ed Stolarski, Executive Vice President of Nations Equipment Finance.

Liam can be reached by phone at (203) 229-2252 or email moc.ecnaniftnempiuqesnoitannull@nallelccml and will work out of NEF’s headquarters in Norwalk, CT.

Read more
Nation Equipment Finance

Nations Equipment Finance Awarded Second Place Winner of the Connecticut 2016 Top Workplaces

Norwalk, CT – September 28, 2016 – Nations Equipment Finance, (NEF) has been awarded second place in the small business category for 2016 Top Workplaces honor by Hearst Media Services. The Top Workplaces lists are based solely on the results of an employee feedback survey administered by WorkplaceDynamics, LLC, a leading research firm that specializes in organizational health and workplace improvement. Several aspects of workplace culture were measured, including Alignment, Execution, and Connection, just to name a few.

group-shot-4“Given that we are such a new company and this was our first year as a nominee for the Top Workplaces award, it is an honor to have won second place in our category,” said Phil Carlson, CEO of Nations Equipment Finance. “This award reflects our dedication to our employees and confirms that we are providing them with great benefits, but also an inclusive and positive working environment.”

“The Top Workplaces award is not a popularity contest. And oftentimes, people assume it’s all about fancy perks and benefits.” says Doug Claffey, CEO of WorkplaceDynamics. “But to be a Top Workplace, organizations must meet our strict standards for organizational health. And who better to ask about work life than the people who live the culture every day—the employees. Time and time again, our research has proven that what’s most important to them is a strong belief in where the organization is headed, how it’s going to get there, and the feeling that everyone is in it together.” Claffey adds, “Without this sense of connection, an organization doesn’t have a shot at being named a Top Workplace.”

 

About Nations Equipment Finance

Nations Equipment Finance specializes in providing equipment loans and leases across a wide spectrum of asset classes including manufacturing, construction, transportation, oil and gas and more. Our investment professionals have decades of experience providing financings to small and medium sized businesses. NEF provides a collateral specific approach to equipment based term loans/leases for new/used equipment (terms up to seven years) to companies operating in the US and Canada. Our transactions range from $1 Million to $50 Million and focus on the underlying collateral value.  Visit www.nationsequipmentfinance.com for more information.

About WorkplaceDynamics, LLC

Headquartered in Exton, PA, WorkplaceDynamics specializes in employee feedback surveys and workplace improvement. This year alone, more than two million employees in over 6,000 organizations will participate in the Top Workplaces™ campaign—a program it conducts in partnership with more than 40 prestigious media partners across the United States. Workplace Dynamics also provides consulting services to improve employee engagement and organizational health. WorkplaceDynamics is a founding B Corporation member, a coalition of organizations that are leading a global movement to redefine success in business by offering a positive vision of a better way to do business.

Read more

Nations Equipment Finance Gets $300 MM Credit Facility from Citizens Bank

Citizens Commercial Banking led a new $300 million revolving credit facility for Nations Fund I, a company managed by Nations Equipment Finance.

Citizens was the lead left bank and joint lead arranger on the transaction, which will provide working capital for Nations, a commercial finance company that provides equipment-based loans and leases to middle market companies. Santander Bank was joint lead arranger and syndication agent.

“Citizens Bank has proven to be a great financial and strategic partner,” said Phil Carlson, CEO of Nations Equipment Finance. “The entire Citizens team brought great ideas to the table and executed the transaction seamlessly.”

“Nations Equipment Finance is a great client and we’re very happy to be able to help them achieve their strategic and financial goals,” said Chris Carmosino, president of Business Capital at Citizens Bank. “Citizens works very hard to be our clients’ lead bank by providing great products and services that deliver value for them at every stage of their business life cycle.”

###

About Nations Equipment Finance

Nations Equipment Finance specializes in providing equipment loans and leases across a wide spectrum of asset classes including manufacturing, construction, transportation, oil and gas and more. Our investment professionals have decades of experience providing financings to small and medium sized businesses. NEF provides a collateral specific approach to equipment based term loans/leases for new/used equipment (terms up to seven years) to companies operating in the US and Canada. Our transactions range from $1 Million to $50 Million and focus on the underlying collateral value.  Visit www.nationsequipmentfinance.com for more information.

About Citizens Financial Group, Inc.
Citizens Financial Group Inc. (NYSE: CFG) is one of the nation’s oldest and largest financial institutions, with $132.9 billion in assets as of December 31, 2014. Headquartered in Providence, Rhode Island, the company offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Consumer Banking helps its retail customers “bank better” with mobile and online banking, a 24/7 customer contact center and the convenience of approximately 3,200 ATMs and approximately 1,200 Citizens Bank and Charter One branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Citizens also provides mortgage lending, auto lending, student lending and commercial banking services in selective markets nationwide. Citizens Commercial Banking offers corporate, institutional and not-for-profit clients a full range of wholesale banking products and services including lending and deposits, capital markets, treasury services, foreign exchange and interest hedging, leasing and asset finance, specialty finance and trade finance. Citizens operates via subsidiaries Citizens Bank, N.A., and Citizens Bank of Pennsylvania. Additional information about Citizens and its full line of products and services can be found at www.citizensbank.com.

Read more

Nations Equipment Finance Expands Capital Markets and Syndication Capabilities

Norwalk, CT – 9/12/16 – Nations Equipment Finance, LLC (“NEF”) has named Ryan Bohlert as Assistant Vice President – Syndication. In this role Ryan will be responsible for enhancing NEF’s capital market activities including loan and lease syndication as well as developing relationships with prospective syndication partners.

Ryan joins NEF with experience in the commercial loan and leasing industry. His background includes pricing and structuring, syndication, capital markets and sales.

Ryan has held positions with Sumitomo Mitsui Finance, Terex Corporation and AXA Equitable. In these positions he was involved in originating, syndicating and structuring equipment lease and loan transactions.

“I am pleased to join the NEF team and work alongside seasoned industry professionals. NEF has a streamlined decision making process which will help me to better serve my clients. I look forward to being part of the continued success here and am excited for what the future holds.” said Ryan

“We are thrilled to have Ryan join our team and are excited to grow this division of our company.” said Mike Brigante – Senior Vice President, Capital Markets “The hiring of Ryan will enhance our syndication capabilities which will bring our customers more financing options.”

Ryan can be reached at (203) 229-2240 or email moc.ecnaniftnempiuqesnoitannull@trelhobr and will be based in our Headquarters.

###

Read more
equipment-financing-transactions

Nations Equipment Finance Announces over 20 Recent Transactions this Summer

NORWALK, CT – September 1, 2016 – Nations Equipment Finance (NEF), announces they have provided several US and Canadian companies with equipment financing.

Some featured transactions include:

  • A Term Loan for $3,400,000 for a motor coach bus company to purchase new buses to upgrade their existing fleet.
  • A True Lease for $5,000,000 for a construction company to expand their business into the lighting signage and telecom market.
  • A TRAC Lease for $5,000,000 for an aviation fuel supply company to refinance their existing debt and provide working capital.
  • A Split TRAC Lease for $3,000,000 for a trucking company to purchase additional tractors in order to expand their business.

“Our team has extensive experience in providing equipment financing to companies in a variety of industries. We are committed to identifying each business’s specific financing needs and delivering a customized solution to meet those needs,” said Phil Carlson, CEO of Nations Equipment Finance.

###

About Nations Equipment Finance

Nations Equipment Finance specializes in providing equipment loans and leases across a wide spectrum of asset classes including manufacturing, construction, transportation, oil and gas and more. Our investment professionals have decades of experience providing financings to small and medium sized businesses. NEF provides a collateral specific approach to equipment based term loans/leases for new/used equipment (terms up to seven years) to companies operating in the US and Canada. Our transactions range from $1 Million to $50 Million and focus on the underlying collateral value.  Visitwww.nationsequipmentfinance.com for more information.

Read more

Nations Equipment Finance Opens Denver Office, Lewis to Lead

Norwalk, CT – May 10, 2016 – Nations Equipment Finance, LLC (“NEF”) has opened a new office in Denver, Colorado to accommodate growth plans and future expansion. The new office space is located in the Denver Tech Center and will be led by Rob Lewis, Vice President of Business Development. This office will provide capacity for growing NEF’s lease and loan origination efforts in the Rocky Mountain Region.

“NEF’s new office will allow Rob to expand origination activities that align with our future growth plans.” said Randy Hicks, Executive Vice President, NEF. Lewis excitedly stated “I am very pleased to open an office in the Denver Tech Center and serve the Rocky Mountain Region as well as the Pacific Northwest.  These regions have demand for the equipment financing solutions that NEF offers and I plan on providing them to my customers.”

Rob can be reached at (303) 256-6353 or by email at moc.ecnaniftnempiuqesnoitannull@siwelr. The address to the new office is 4600 South Syracuse Street, 9th Floor Denver, CO 80237.

Read more

NEF Strengthens Southeast Origination Efforts and Appoints Jarrod Hicks as SVP of BD

Norwalk, CT – March 22, 2016 – Nations Equipment Finance, LLC (“NEF”) is pleased to announce that Jarrod Hicks has been hired as Senior Vice President – Business Development. Jarrod will be responsible for expanding NEF’s lease and loan origination activities in the Southeastern portion of the United States. Jarrod has over 11 years of experience in the Equipment Finance and Leasing industry, and comes to NEF from CIT Commercial Bank, where he was their Southeast Regional Director. Prior to CIT, Jarrod worked for several banks and Commercial Equipment Lenders, Talmer Bank, FNCC, CG Commercial Finance and a previous role at NEF.

“I’m thrilled to be back at NEF and to once again be a part of this tremendous team of equipment financing veterans. NEF is led by experienced leaders with a strong, customer focused mindset. I am excited for the opportunity and look forward to what the future holds.”  Hicks said.

Ed Stolarski, Executive Vice President commented “Jarrod’s demonstrated experience and equipment financing knowledge make him an important part of the NEF team. We view the hiring of Jarrod as a significant part of our strategic commitment to growth and to being one of the top lenders in our industry. With our creative financing solutions we believe Jarrod will be able to meet the various needs of his customers. We are happy that he is once again part of our team.”

Jarrod can be reached at (239) 390-1306 or by email at moc.ecnaniftnempiuqesnoitannull@skcihj and will work out of NEF’s Bonita Springs, FL office.

Read more

Let Us Review Your Equipment Needs Today.

GET FINANCING