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.
Brian Lowe
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.
Independents have more freedom thank their regulated counterparts, but that doesn’t mean they are immune to the fluctuations of the marketplace. In an exclusive Q&A with Monitor, leaders from Liberty Commercial Finance, GreatAmerica Financial Services, Financial Partners Group and Verdant Commercial Capital discuss how they’re navigating toward success in today’s environment.
Following incredible turbulence in 2020, 2021 proved to be a bounceback year for Monitor’s Top Private Independents, as the group logged a record for the annual ranking with 35.6% year-over-year growth in new business volume.
Three Greater Cincinnati equipment finance industry veterans decided to leave their established company less than five years ago and form their own startup. They’ve already built it into one of the industry’s top players.
Verdant Commercial Capital, based in Blue Ash, originated just under $400 million in financings last year. It’s forecasting that number will soar to $535 million this year, representing 34% growth. Back in 2017, when the company was launched, it originated just $7 million in financings. To be fair, it started in July that year. But the growth is exponential.
Verdant doesn’t plan to stop there, either.
Josh Patton, Chris Herman and Jon Wickersham Join Energy Team
Verdant Commercial Capital is expanding its focus in the energy market by adding three team members to its sales team and opening a new office in Detroit. Joining the Verdant Energy Division sales team are Joshua Patton, Chris Herman and Jonathan Wickersham. All of these team members will be based in Verdant’s new Detroit office.
“Until now, Verdant’s Energy Division has focused on financing technologies that generate clean energy,” said John Merritt, Executive Vice President of Verdant Commercial Capital. “With the addition of this experienced team, Verdant has expanded its focus to include the financing of technologies that reduce the demand for energy. Demand side management saves money for our clients and helps save the environment for all of us.”