Ric Rivett (left) and Jeff Glikman (right) founded Intech Funding Corporation in 1995. The duo attended many industry events together, including this American Machine Tool Distributors meeting in 2002.
Cincinnati, OH - Verdant Commercial Capital announces the retirement of Jeff Glikman, founder and president of Intech Funding Corporation, effective June 30, 2021. Intech, a finance company focused on the machine tool industry, was started by Glickman and Ric Rivett in 1995. Intech is located in Monrovia, California.
“I worked my way through college for a used machinery dealer that had a full rebuilding facility. That was over 40 years ago, and at the time I had no idea how valuable that shop experience would be for my future career,” Glikman recalled. “Before starting Intech, I had the good fortune of working for 20 years for Machinery Sales Company, a large machine tool distributor based on the West Coast. Working on the shop floor in the machine tool business gave me perspective in how to best serve customers in need of equipment financing.”
Cincinnati, OH - Verdant Commercial Capital was named as a 2021 Fast 55 honoree by the Cincinnati Business Courier. With a 230% revenue growth over the past three years, the Courier ranked Verdant as the 13th fastest growing company in Cincinnati. Verdant ranks sixth nationally among the largest independent equipment finance companies, and is forecasting growth of more than 30% for 2021. Verdant has 59 employees, including 22 in its Cincinnati headquarters. It also has offices in Dallas, Los Angeles and Minneapolis.
Verdant Commercial Capital has experienced a tremendous first three years, even more so considering year No. 3 included the pandemic. The company has grown to nearly 60 employees and topped $300 million in originations. The vendor finance company’s leaders aim for 30+ percent growth this year and expect to reach “significantly north of $400 million.” Equipment Finance Advisor talked with CEO Mike Rooney and Chief Commercial Officer Brian Lowe to learn about their strategy, their focuses and why they are so bullish on 2021.
Verdant was included in this list in the March/April 202 edition of the Monitor Magazine.
Although Monitor’s Top Private Independents faced many challenges in 2020, the group managed collective volume growth of 9.1% amid the COVID-19 pandemic.
Cincinnati, OH - Verdant Commercial Capital, LLC has hired Barry Hart and Ben Klang in the Specialty Vehicle vertical with an emphasis on equipment utilized in the solid and liquid waste segment. Hart and Klang each join Verdant as a Relationship Manager and Vice President, and they will work with OEMs, distributors, resellers, and end users to help Verdant partners sell more through financing. With a combined 36 years of experience in the industry, they bring a wealth of industry expertise to Verdant.
Scott Plemmons, Ruthanne Walsh and Jim Wheeler Join Office Products Team
Cincinnati, OH - Verdant Commercial Capital, LLC is expanding its focus on the Office Products market by adding three industry veterans to its sales team. Joining the Verdant Office Products sales team are Scott Plemmons, Ruthanne Walsh and Jim Wheeler.
“In our third year of business Verdant surpassed $300 million in originations in 2020 with double digit growth,” said Brian Lowe, Verdant’s chief commercial officer. “As we look to grow our six verticals at Verdant we wanted to hire deep domain expertise in the Office Products vertical and adding Scott, Ruthanne, and Jim does exactly that. We are excited to work with Office Products OEMs and their Dealers to help them sell more equipment and services through financing.”
Verdant Commercial Capital, LLC has hired Bob Heimbrock as Vice President in the technology vertical. He will work with OEMs, distributors, resellers, and end users to help Verdant partners sell more through financing. With 40 years of experience in the IT industry, with the last 33 years in IT finance, Heimbrock brings a wealth of experience to Verdant.
“As Verdant continues to grow our technology vertical, we are excited to add someone with Bob’s experience and relationships. He brings a wealth of expertise in offering financing as a tool to help his partners sell more hardware and/or software.”
Every year, the Monitor recognizes the Top 50 Women in Equipment Finance for their unique contributions to the equipment finance industry.
Margaret Irvin, CPA
Senior Vice President of Operations
Verdant Commercial Capital
“Our industry would benefit from a workforce that continues to look more like our customers and the world. As the next generation comes into the industry, I believe that we will continue to make strides in this direction.”
Verdant Commercial Capital, LLC executed a multi-year Vendor Program Agreement with KION North America Corporation. The agreement provides retail financing for KION North America’s Linde and Baoli forklifts in the United States. The go-to-market name for the new financing program will be Linde Material Handling Financial Services.
Linde Material Handling Financial Services brings the durability, high performance and low cost of ownership that customers of Linde Material Handling products have been known for and brings an affordable price tag to the entire market. This program agreement will allow customers to access Linde products at a very low monthly payment.
Verdant Commercial Capital, LLC has hired Joel Zeller as Capital Markets Relationship Manager. He will work with the Verdant vendor sales team to source on and off balance sheet funding for some of Verdant’s high dollar transactions. Zeller has more than 15 years of experience with several Fortune 500 companies in sales, credit, underwriting and management in commercial finance.
“We are thrilled to add Joel to the Verdant team,” said John Merritt, Verdant’s Executive Vice President of Capital Markets. “Joel’s deep background in transaction structuring, risk management and pricing, coupled with his experience in the syndication markets will further enhance Verdant’s ability to continue to say “yes” to our vendor partners through our well-established multi-funder model.”