Verdant Commercial Capital 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 equity, allowing the company to further expand its balance sheet and continue to fuel Verdant’s rapid growth. Ultimately, this financing will help dealers sell more equipment by providing more access to equipment financing and making financing options easy 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.”
In under five years, Verdant has grown to be one of the top 10 independent equipment finance companies in the United States, with six divisions powering its growth: Industrials, Manufacturing, Specialty Vehicle, Golf, Sports & Entertainment, Renewables & Energy Efficiency, and Technology & Office Automation. Securing this additional capital is an endorsement of the Verdant platform that efficiently originates exceptionally performing of the assets through its relationships with Tier I OEMs, dealers, distributors, and sellers of capital equipment.
“We found the flexibility of the Värde facility, including the ability to draw down on the line as we continue expand, the most efficient vehicle for us,” said Robert Moskovitz, Chief Financial Officer of Verdant Commercial Capital. “This facility adds to our capital base fueling Verdant’s growth and building our balance sheet.”
“Verdant is increasingly establishing itself as a leader in equipment financing and we welcome the opportunity to support the company’s successful growth story,” said Aneek Mamik, Partner and Global Co-Head of Financial Services at Värde Partners. “Across the non-bank sector, lenders are increasingly able to provide faster and more flexible financing solutions that are better suited to individual customer and business needs. We see a significant and scalable investment opportunity to provide the alternative capital necessary to drive the continued growth of the non-bank sector.”
Värde Partners has more than 20 years of experience investing in consumer and commercial credit. The firm currently manages c.$2 billion of financial services assets, with Värde-controlled origination platforms holding over $40 billion of financial services credit.