Verdant Commercial Capital closed on a $75 million subordinated debt facility provided by Värde Partners, an alternative investment firm.
The new capital will augment Verdant’s existing financing, allowing the company to further expand its balance sheet and help fuel its growth. Ultimately, this financing will help Verdant provide more access to equipment financing to dealers and make financing options more flexible for those dealers’ 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,” Mike Rooney, CEO of Verdant Commercial Capital, said. “Our new relationship with Värde is an important component to our long-term growth prospects.”
In fewer than 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, including industrials; manufacturing; specialty vehicle; golf, sports and entertainment; renewables and energy efficiency; and technology and office automation.
“We found the flexibility of the Värde facility — including the ability to draw down on the line as we continue to expand — the most efficient vehicle for us,” Robert Moskovitz, CFO of Verdant Commercial Capital, said. “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,” Aneek Mamik, partner and global co-head of financial services at Värde Partners, said. “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.”