Crestmark announced the acquisition of certain assets of Ultimate Financial Solutions (UFS). Located in New York City, the factoring and financial services company has been in business for eight years and provides financing to the apparel, footwear and retail supply chain industry. Three UFS team members will be joining Crestmark’s New York City office; UFS clients will transition to Crestmark immediately.

Steve Turkish, Vice President, Senior Account Executive, has more than 30 years of diverse industry experience. Turkish has worked with UFS since its inception, leading the company’s new business and client services areas. Previous to UFS, Turkish worked with Heller Financial, Congress Financial, Ambassador Factors, CIT, and Sterling Factors where he was executive vice president and general credit manager. Turkish will report to Jack McLaughlin, Crestmark First Vice President, New York office Regional Manager. Also joining the Crestmark team are Annette Padilla, Compliance Specialist, and Ana Ng Feng, Client Services Representative; they have been with UFS for seven and three years, respectively.

“We are excited about this acquisition, and for the potential future growth it brings to Crestmark’s New York office. We look forward to building strong relationships with our new clients,” said McLaughlin.

“The addition of the Ultimate team and their client base is a perfect fit for the Crestmark East Region New York City office. We’re glad to have this team of skilled professionals joining us, and know that they will continue to enhance Crestmark’s ‘we help’ philosophy,” said James Rothman, Crestmark Group President. "We look forward to providing top notch service to the Ultimate Financial clients that we are welcoming to Crestmark.”

“It is exciting to be joining a growing company with national reach and a team of experienced professionals in the New York area. We anticipate dynamic things to come,” said Steve Turkish.

Crestmark is a nationally known and respected FDIC-insured bank that provides innovative financial solutions for small- to medium-sized businesses. Financing solutions include asset-based lending, accounts receivable financing, lines of credit, factoring, and equipment financing.