Daily News: February 4, 2013

Crestmark Acquires NYC-based Factoring Firm

Crestmark acquired certain assets of Ultimate Financial Solutions (UFS). Located in New York City, UFS, a 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.

Steve Turkish, who joined Crestmark as VP, senior account executive, has more than 30 years of industry experience. Previously, Turkish worked with Heller Financial, Congress Financial, Ambassador Factors, CIT and Sterling Factors.

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 Jack McLaughlin, Crestmark first VP.

“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.”

Crestmark provides financial solutions for small- to medium-sized businesses.