Verdant Commercial Capital Celebrates Five-Year Milestone, Projects 2022 Annual Originations Near $600 Million
Verdant Commercial Capital, LLC, one of the top 10 independent equipment finance companies, just celebrated its fifth anniversary. The company was founded in 2017 by equipment finance veterans Mike Rooney, Chris Kelley and John Merritt. This team brought their expertise and discipline from a combined 100+ years of experience working at both banks and independents to the vendor finance segment. Verdant provides financing to six strategic markets and funds business transactions ranging from $25,000 to over $50 million.
The Monitor 100 companies reported net assets of $531.2 billion, $209.1 billion in new business volume and 27,897 employees.
Portfolios remained stable in 2021, with an overall growth rate of 0.9% for the group, a slight improvement from the -0.8% decrease posted in 2020. Sixty-nine Monitor 100 companies reported a combined $20.2 billion increase in net assets while 31 posted declines equal to $15.4 billion, which resulted in a collective year-over-year increase of $4.8 billion.
The vendor finance world has been shaken up by many challenges over the last couple years, including supply chain shortages, inflation, the COVID-19 pandemic, a continually evolving market and increasing interest rates. Monitor spoke with vendor finance leaders to get some perspective on these unprecedented fluctuations.
Uncertainty has been the only constant over the last two years. During this time, the vendor finance world has been shaken up by many challenges in the economy, like supply chain shortages, inflation, the COVID-19 pandemic, a continually evolving market and increasing interest rates. This has forced vendor finance providers to adapt and change the way they interact with partners. To get a handle on the vendor finance perspective, Kelly Furia of DLL Group, Dave O’Neill of Wells Fargo Vendor Financial Services, Mike Rooney of Verdant Commercial Capital and Cameron Watten of Amur Equipment Finance, shared their thoughts about the ongoing evolution of the market.
Verdant Commercial Capital Adds Dan Smith to Its Expanding Golf, Sports & Entertainment Industry Team
Verdant Commercial Capital is again growing its Golf, Sports & Entertainment team by adding Dan Smith as Vice President, Relationship Manager. He will be responsible for working with OEMs, manufacturers, and dealer partners in these industries to help them with their equipment financing needs.
“Verdant continues to expand in the Golf, Sports, and Entertainment industries,” said Mike Rooney, CEO of Verdant Commercial Capital. “Bringing Dan Smith onto the team will give us even more bench strength in this industry. Because Dan brings a familiarity of working with all stakeholders and partners, he will be a valuable asset to Verdant, OEMs and other partners.”
Cincinnati, OH — Verdant Commercial Capital, LLC executed a multiyear program agreement with Synovus Bank to provide a new equipment finance offering — Synovus Equipment Leasing — for Synovus Bank commercial customers. Through the offering, leasing and equipment finance agreements for essential use equipment can range from $25,000 to $50 million. The program is for Synovus commercial customers only and is now available.
A Cincinnati equipment finance company has completed a deal to raise $75 million to support its rapid growth.
Blue Ash-based Verdant Commercial Capital closed on the subordinated debt arrangement with Värde Partners, an alternative investment firm founded in Minnesota and with primary offices in Minneapolis, New York, London and Singapore.
Verdant provides financing to dealers who sell equipment. The additional debt will enable dealers to sell more equipment because they can provide more financing to customers.
Verdant Commercial Capital Obtains $75 Million Subordinated Debt Facility Provided by Värde Partners
Verdant Commercial Capital announced it recently closed on a $75 million subordinated debt facility provided by Värde Partners, a leading global alternative investment firm.
This capital will augment Verdant’s existing financing, allowing the company to further expand its balance sheet and help fuel Verdant’s rapid growth. Ultimately, this financing will help dealers sell more equipment by providing more access to equipment financing and make financing options more flexible for their customers.
“Additional capital helps support Verdant’s significant growth forecast these next few years as we continue our mission of helping our partners sell more equipment through flexible financing solutions,” said Mike Rooney, CEO of Verdant Commercial Capital. “Our new relationship with Värde is an important component to our long-term growth prospects.”
Each year, the Monitor highlights 40 up and coming leaders under the age of 40 in their Monitor NextGen issue. One of this year's equipment finance rising stars is one of the Verdant Commercial Capital team.
Chief Commercial Officer
Verdant Commercial Capital
“Our success is due to a whole host of folks, from the executive leadership team to our tenured employees across operations, credit, finance, legal and originations.”
Cincinnati, OH - Verdant Commercial Capital has been named a 2022 Top Workplace in the Greater Cincinnati and Northern Kentucky area by The Enquirer Media. The Top Workplaces list is based solely on employee feedback gathered through a third-party survey administered by employee engagement technology partner Energage, LLC. The anonymous survey uniquely measures 15 culture drivers that are critical to the success of any organization, including alignment, execution, and connection, just to name a few.
“We are honored to be named as a Top Workplace, which is a tribute to our team. As we built Verdant, we knew a key element in our success would be hiring the right people, giving them the tools that they needed to succeed, then letting them do their job,” said Mike Rooney, CEO of Verdant Commercial Capital. “Our associates bring a can-do attitude to work every day, which creates rewarding relationships with our vendors, customers, and partners.”
Verdant Commercial Capital is expanding its equipment financing team in a familiar industry: Golf, Sports & Entertainment. To grow into this industry, Verdant has hired Ryan Brucker as Vice President, Relationship Manager. He is responsible for nationwide sales.