Hitachi Capital America signed a definitive agreement to purchase the assets of Global Technology Finance, a supply chain financing provider to value added re-sellers in the technology industry.
Global Technology Finance’s business platform included expertise in technology reseller financing and in-depth relationships across the IT supply chain.
“We are excited by the opportunity to add the highly experienced Global Technology Finance team to Hitachi,” said Mark Duncan, executive vice president and general manager, Hitachi Commercial Finance and Corporate Development. “We expect their platform to complement our strategy of delivering innovative financing solutions in the technology space. As a non-bank alternative finance company, we have the means to expand their solutions and offer enhanced certainty and flexibility.”
Paul Stemler, Global Technology Finance president, commented, “Joining the Hitachi family of companies represents a significant opportunity for our company, our customers, and our employees. Adding Hitachi’s scale, industry expertise, and deep resources to our unique financing platform will allow us to broaden our supply chain financing solutions to include term loans, SaaS contract financing and end-user financing.”
The transaction closed February 22, 2019. Stemler will remain president of the new entity, which will be named Hitachi Capital America Technology Finance. He will report to Chris Pagano, general manager of Hitachi Capital America’s Structured Finance business. Stemler will continue to be supported by COO/CFO Steve Weislogel, who oversees business operations in Ohio.
Hitachi Capital America is an independent, diversified leasing and financial services company which provides financing to commercial businesses and other Hitachi companies in the United States.
