Encina Equipment Finance announced it has changed its name to Post Road Equipment Finance, LLC. As part of the name change, the company has revamped and redesigned its website to incorporate the new company name (www.postroadef.com).
The name change comes on the heels of an extremely successful first year under new ownership by affiliates of Benefit Street Partners. “I couldn’t be happier with the performance of the team. Despite the headwinds that started right after we closed on the business sale, we delivered record results by all measures. First, it was Ukraine/Russia, then accelerating interest rate increases, followed by sustained inflationary pressures.” said Rick Matte, President and CEO of Post Road Equipment Finance. “And yet, in the face of those challenges, we produced some incredible numbers, originations increased 36% from last year, net earning assets increased 22% and we had no credit losses.”
For the broader team, the name change marks a transition to a new identity and future while also paying tribute to the company’s origin and history. “We spent a good part of the year thinking through different names. Ultimately, we selected Post Road Equipment Finance as the name has a special connection to our current team, our past ownership and new ownership,” said Matte.
While the business’s name is changing, nothing about the company’s structure, business model or ownership is changing. Post Road Equipment finance will continue to focus on creative solutions, risk management and relentless execution for our customers while delivering on commitments to its stakeholders, as the company has done since its founding in 2017.
Launched in June 2017, Post Road Equipment Finance provides loans and leases ranging in size from $5 million to $75 million secured by essential-use equipment. The platform provides financing to both privately owned (sponsor and non-sponsor) and publicly traded companies across a wide range of collateral types and industries (including, but not limited to, construction, distribution, energy, food processing, health care, information technology, manufacturing, mining, paper & packaging, and transportation).
Benefit Street Partners L.L.C. is a leading credit-focused alternative asset management firm with approximately $42 billion in assets under management as of December 31, 2022. BSP manages assets across a broad range of complementary credit strategies, including private/opportunistic debt, structured credit, high yield, special situations, long-short liquid credit and commercial real estate debt. Based in New York, the BSP platform was established in 2008. BSP is a wholly owned subsidiary of Franklin Resources, Inc.
Franklin Resources, Inc. is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 155 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives, and multi-asset solutions. With offices in more than 30 countries and approximately 1,300 investment professionals, the California-based company has 75 years of investment experience and approximately $1.4 trillion in assets under management as of January 31, 2023.
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