Archives for News

SLR Equipment Finance Hires Bauer as SVP of Business Development

SLR Equipment Finance is pleased to announce it has hired Jeffrey Bauer as Senior Vice President of Business Development.  In his role, Jeff will be responsible for growing SLR Equipment Finance’s leasing and lending activities in the MidAtlantic region of the U.S.  Jeff brings over 30 years of creative structuring experience in the equipment finance industry to SLR Equipment Finance.

“I’m looking forward to joining the SLR Equipment Finance team,” Jeff said. “SLR has an exceptional team focused on delivering creative solutions and exceptional service to its clients.  I look forward to growing their presence in the MidAtlantic states with an emphasis on larger transactions across a broad spectrum of industries.”

Randy Hicks added, “We welcome Jeff to SLR Equipment Finance.  His experience building relationships and working on larger, more complex transactions is a terrific fit with our company.

SLR Equipment Finance is celebrating its tenth year as a distinguished equipment finance provider serving a broad base of companies throughout North America. SLR Equipment Finance continues to provide customers with quick, creative and straightforward solutions to their financing needs.

Jeff can be reached at (704) 236-4231 and will work out of our Charlotte, North Carolina location.

 

About SLR Equipment Finance

SLR Equipment Finance specializes in providing equipment loans and leases across a wide spectrum of asset classes including manufacturing, construction, transportation, marine, food processing and more. Our investment professionals have decades of experience providing financing to middle market  businesses.

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SLR Equipment Finance Hires Downey as SVP of Business Development

SLR Equipment Finance is pleased to announce it has hired Thomas Downey as Senior Vice President of Business Development.  In his role, Tom will be responsible for growing SLR Equipment Finance’s leasing and lending activities in the Southwest region of the U.S.  Tom brings over 30 years of creative structuring experience in the equipment finance industry to SLR Equipment Finance.

“I’m looking forward to joining the SLR Equipment Finance team,” Tom said. “SLR has established itself as a leading middle market equipment finance company that delivers creative financing solutions to its clients.  I look forward to growing their presence in the Southwest with an emphasis on larger transactions across a broad spectrum of industries.”

Randy Hicks added, “We welcome Tom to SLR Equipment Finance.  His experience working with larger, more complex transactions is a terrific fit with our company as we strive to build lasting relationships with our customers and support them now and in the future”.

SLR Equipment Finance is celebrating its tenth year as a distinguished equipment finance provider serving a broad base of companies throughout North America.  SLR Equipment Finance continues to provide customers with quick, creative and straightforward solutions to their financing needs.

Tom can be reached at (214) 906-9795 and will work out of SLR Equipment Finance’s Dallas, Texas location.

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Nations Equipment Finance Rebrands to SLR Equipment Finance

Nations Equipment Finance announced today that it will change its name to SLR Equipment Finance as part of a new unified brand identity, effective February 25, 2021. The new SLR identity is part of a broader rebranding effort by Nation’s parent company, SLR Investment Corp, formerly Solar Capital Ltd, and its investment Advisor SLR Capital Partners (“SLR” or “the advisor”), formerly Solar Capital Partners.

This rebranding initiative enables the Nations Equipment Finance brand to be formally unified with that of its parent company, as well as its other complimentary lending platforms. Under a centralized platform, SLR Equipment Finance is now better positioned to serve our clients with the full suite of SLR Capital Partners’ capabilities ranging from asset-based and cash-flow loans to M&A and sponsor financing to meet your current and future needs.

SLR Equipment Finance will remain fully focused on providing creative, personally tailored, equipment-based financing solutions designed to best position borrowers to grow their businesses. Our experienced and responsive team, comprehensive process and best-in-class operational infrastructure will remain unchanged throughout this process.

You can expect the same experience, efficiency, and commitment to client service that you have come to know over our 11-year history from our colleagues at the following organizations:

 

  • SLR Sponsor Finance (www.slrcapitalpartners.com/Financial-Solutions/Sponsor-Finance): Senior secured cash-flow loans to financial sponsor backed upper middle-market companies;
  • SLR Credit Solutions (www.slrcreditsolutions.com): Direct private credit, delivering complex, creative solutions to middle-market companies, across diverse industries, that require flexible asset-based and cash flow financing solutions;
  • SLR Business Credit (www.slrbusinesscredit.com): Working capital solutions provided through senior secured asset-based financings with a focus on the manufacturing, services and distribution industries;
  • SLR Healthcare ABL (www.slrhealthcareabl.com): Secured, asset-based loans for small and mid-sized companies that provide healthcare products and services;
  • SLR Lender Finance (www.slrcapitalpartners.com/Financial-Solutions/Lender-Finance): Senior secured first lien working capital loans to commercial finance companies;
  • Kingsbridge Holdings (www.kingsbridgeholdings.com): Equipment leasing including information technology, industrial, healthcare and commercial essential-use equipment for financially strong borrowers; and
  • SLR Life Science Finance (www.slrcapitalpartners.com/Financial-Solutions/Life-Science-Finance): Senior secured first lien credit facilities for later-stage bio-pharma, medical device, healthcare IT and healthcare services companies, both venture-backed private and public

 

If you have any questions about today’s news, or would like to discuss any ways that we or our colleagues across the SLR platform may be able to be of assistance, please feel free to reach out to your regular contact here at SLR Equipment Finance.

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SLR Equipment Finance appoints William Houng as Vice President – Sales

Norwalk, CT – August 09, 2017 – SLR Equipment Finance, LLC (“SLREF”) is pleased to announce the appointment of William Houng as Vice President – Sales. In this role, William will be responsible for originating equipment lease and loan transactions in SLREF’s Western Sales Region. William comes to SLREF with over 8 years of experience in the equipment financing industry.

“I am very excited to join the SLREF team. SLREF utilizes a unique capital structure to provide clients with financing for a wide range of asset types and credit profiles, while also offering complete structuring flexibility (loans, leases, lines of credit) and custom payment options,” said William. “With such an array of products and services, I am confident that my clients will be presented with the best possible financial solutions. I am looking forward to being an integral part of the SLREF team and contributing to the organization’s long term success.”

“William’s demonstrated success and industry experience will contribute to our growth strategy and help increase new business originations in our western region,” said Ed Stolarski, Executive Vice President of SLR Equipment Finance. “We are excited to have William join our team here at SLREF. His hiring further exhibits our commitment to expanding our reach to middle market companies as we continue to be a leading independent provider of equipment leases & loans in the U.S. and Canada.”

William can be reached by phone at (909) 486-8520 or email WHoung@nullslr.approvalserver.com and will work out of our office in Brea, California.

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SLR Equipment Finance Acquired by Solar Capital

NEW YORK, NY — 08/01/17 — Solar Capital Ltd. (NASDAQ: SLRC) (“Solar” or the “Company”) announced that on July 31, 2017, it acquired SLREF Holdings, LLC (“SLREF”), which conducts its business through its wholly-owned subsidiary SLR Equipment Finance, LLC. SLREF is an independent equipment finance company that provides senior secured financings to U.S. based companies. Solar invested approximately $210 million to effect the transaction.

The acquisition is another important step in Solar’s commitment to expand its direct lending investment channels and provide differentiated sources of growth. The addition of SLREF, with its infrastructure and experienced underwriting team, further enhances Solar’s platform as a diversified specialty finance company. Solar directly sources and underwrites cash flow, asset-based, life science and now senior secured equipment financings. Pro forma for the SLREF acquisition, approximately two-thirds of Solar’s comprehensive portfolio is expected to be comprised of specialty finance investments with the remainder from directly originated investments in senior secured cash flow loans to sponsor-owned companies.

SLREF was founded in 2010 by former GE Capital equipment finance professionals, and has underwritten approximately $1.0 billion of equipment financings since inception. The portfolio is highly diversified, with an average funded exposure per borrower of $2.3 million. Collateral securing the portfolio consists of long-life, essential-use assets such as trucks and trailers, machine tools and equipment, which can be readily liquidated.

Solar acquired SLREF for a modest premium to tangible book value. SLREF is expected to distribute substantially all of its earnings to Solar on a quarterly basis. Solar anticipates its investment in SLREF will generate a cash yield consistent with its other specialty finance assets and expects the acquisition to be immediately accretive to investment income in Q3 2017. Based on SLREF’s existing portfolio, the investment would currently generate quarterly net investment income for Solar of approximately $0.04 to $0.05 per share. Pro forma for the acquisition and based on debt outstanding at June 30, 2017, Solar’s leverage would have been 0.55x debt-to-equity.

“We believe that SLREF offers a compelling opportunity to invest in an established business, whose management team has a strong track record,” said Michael Gross, Chairman and CEO of Solar. “The addition of SLREF’s sourcing channel enhances Solar’s flexibility to originate investments across multiple business lines in order to find the best risk reward opportunities while also increasing the earnings power of Solar’s portfolio.”

“We believe this acquisition further positions us as a diversified specialty finance company, providing capital solutions to middle market companies. SLREF, with its 100% collateralized loan portfolio, complements Solar’s other specialty lending businesses,” said Bruce Spohler, Chief Operating Officer of Solar. “We believe SLREF’s business is highly scalable and provides Solar with access to another differentiated middle market corporate credit platform focused on collateral-based/LTV lending. SLREF offers attractive risk-adjusted returns and has a low correlation to the broader non-investment grade credit markets.

“We are excited about SLREF’s relationship with Solar Capital and the growth opportunities it provides the SLREF platform,” said Phil Carlson, President and Chief Executive Officer of SLREF. “Solar’s stable, long-term funding will enhance SLREF’s ability to provide innovative financing solutions to our clients.”

Keefe Bruyette & Woods, Inc. acted as the exclusive financial advisor to SLREF in connection with the transaction.

ABOUT SOLAR CAPITAL LTD.

Solar Capital Ltd. is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. The Company invests directly and indirectly in leveraged, middle market businesses in the form of senior secured loans, including unitranche loans, as well as mezzanine loans, and equity securities.

ABOUT NATIONS EQUIPMENT FINANCE, LLC

SLREF specializes in providing equipment leases and loans across a wide spectrum of industries including transportation, manufacturing, construction, aerospace and marine for small and medium sized businesses primarily in the United States. SLREF’s transactions range in size from $1 to $50 million and focus on the underlying collateral value. Nations uses this collateral specific approach for both new and used equipment financings with terms typically between three and seven years.

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SLREF appoints Susan O’Donovan as CFO

SLR Equipment Finance (“SLREF”) is pleased to announce the appointment of Susan O’Donovan as Chief Financial Officer.  Susan joins Nations with over 15 years of asset management experience and 10 years of structuring and securitizing specialty finance portfolios.

Susan was most recently with Castleton Commodities International as the Executive Director, Head of Controller Project Management and Strategic Initiatives.  Susan’s past experience includes controllership and treasury roles with asset managers Plainfield Asset Management, Wexford Capital and Smith Management.  She was also involved in the growth and public offering of ContiFinancial Corporation who serviced a $20 billion portfolio of consumer and commercial loans.  Susan also served as the Manager of Financial Reporting for GE Capital.  Susan began her career as an auditor for PriceWaterhouse. She holds a BBA in Accounting from the Ross School of Business at the University of Michigan.

“We are excited that Sue O’Donovan has joined our company as Chief Financial Officer,” said Phil Carlson, CEO of Nations. “Her 25 years of finance and controllership experience along with her experience in the securitization market is going to be of great value to our company. We are glad that she is part of the Nations team,” Carlson added.

SLR Equipment Finance specializes in providing equipment leases and loans across a wide spectrum of asset classes including construction, transportation, manufacturing, aerospace and marine for small and medium sized businesses throughout the United States and Canada. Their transactions range in size from $1 to $50 million and focus on the underlying collateral value. Nations uses this collateral specific approach for both new and used equipment financings with terms between 3 and 7 years. To learn more about SLR Equipment Finance visit www.slr.approvalserver.com.

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Tom Fanelli to Retire as Chief Risk Officer of SLREF

Tom Fanelli, Chief Risk Officer will be retiring from SLR Equipment Finance after fifty years in the Equipment Finance Industry. Tom started in the equipment finance business in 1967 as a collector with what was then known as General Electric Credit Corporation. He rose in the company to become a GE Capital Officer and the Chief Risk Officer for the Commercial Equipment Finance Division of GE Capital. He retired from GE in 2009 and joined a group of GE Capital colleagues in founding SLR Equipment Finance. Nations opened for business in 2010 and has grown to be one of the largest independent equipment finance businesses in the United States.

“Tom Fanelli is well known in the Equipment Finance Industry and we are sad that he is retiring,” said Phil Carlson, CEO of Nations. “He was an important member of our management team and helped us to build our company. We wish him all the best in his retirement,” Carlson added.

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DBRS Upgrades SLR Equipment Finance Funding Ratings

DBRS, Inc. (DBRS) has today upgraded two classes of two outstanding public ratings. The rating actions are based on the current credit enhancement levels being sufficient to cover DBRS’s expected losses at their current respective rating levels.

The ratings are based on DBRS’s review of the following analytical considerations:

  • Transaction capital structure, proposed ratings and form and sufficiency of available credit enhancement.
  • The transaction parties’ capabilities with regard to origination, underwriting and servicing.
  • The credit quality of the collateral pool and historical performance.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is the DBRS Master U.S. ABS Surveillance Methodology, which can be found on our website under Methodologies.

The rated entity or its related entities did participate in the rating process. DBRS had access to the accounts and other relevant internal documents of the rated entity or its related entities.

Please see attached appendix for additional information regarding sensitivity of assumptions used in the rating process.

RATINGS

Issuer Debt Rated Rating Action Rating Trend Notes Published Issued
SLR Equipment Finance Funding II, LLC Equipment Contract-Backed Notes, Series 2014-1, Class A Upgraded AA (sf) Feb 15, 2017 US
SLR Equipment Finance Funding III, LLC Equipment Contract-Backed Notes, Series 2016-1, Class A Upgraded A (high) (sf) Feb 15, 2017 US
US = USA Issued, NRSRO
CA = Canada Issued, NRSRO
EU = EU Issued
E = EU Endorsed
Unsolicited Participating With Access
Unsolicited Participating Without Access
Unsolicited Non-participating

 

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SLR Equipment Finance announces the appointment of Liam Austin – McClellan as Vice President – Sales

Norwalk, CT – October 19, 2016 – SLR Equipment Finance, LLC (“SLREF”) is pleased to announce the appointment of Liam Austin – McClellan as Vice President – Sales. In this role, Liam will be responsible for originating equipment lease and loan transactions in SLREF’s Northeast Sales Region. Liam has over 6 years’ experience in sales and business development.

“I am thrilled to join the equipment finance team at SLREF.  With over 200 years in combined equipment finance experience, SLREF will help me provide the best financial solutions to my clients.  I look forward to being involved in the continued success of SLREF.” Liam said. “With competitive and economic challenges, our clients are consistently pressured to secure creative sources of capital. We are very happy to have Liam join our team and to participate in SLREF’s growth” commented Ed Stolarski, Executive Vice President of SLR Equipment Finance.

Liam can be reached by phone at (203) 229-2252 or email lmcclellan@nullslr.approvalserver.com and will work out of SLREF’s headquarters in Norwalk, CT.

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Nation Equipment Finance

SLR Equipment Finance Awarded Second Place Winner of the Connecticut 2016 Top Workplaces

Norwalk, CT – September 28, 2016 – SLR Equipment Finance, (SLREF) has been awarded second place in the small business category for 2016 Top Workplaces honor by Hearst Media Services. The Top Workplaces lists are based solely on the results of an employee feedback survey administered by WorkplaceDynamics, LLC, a leading research firm that specializes in organizational health and workplace improvement. Several aspects of workplace culture were measured, including Alignment, Execution, and Connection, just to name a few.

group-shot-4“Given that we are such a new company and this was our first year as a nominee for the Top Workplaces award, it is an honor to have won second place in our category,” said Phil Carlson, CEO of SLR Equipment Finance. “This award reflects our dedication to our employees and confirms that we are providing them with great benefits, but also an inclusive and positive working environment.”

“The Top Workplaces award is not a popularity contest. And oftentimes, people assume it’s all about fancy perks and benefits.” says Doug Claffey, CEO of WorkplaceDynamics. “But to be a Top Workplace, organizations must meet our strict standards for organizational health. And who better to ask about work life than the people who live the culture every day—the employees. Time and time again, our research has proven that what’s most important to them is a strong belief in where the organization is headed, how it’s going to get there, and the feeling that everyone is in it together.” Claffey adds, “Without this sense of connection, an organization doesn’t have a shot at being named a Top Workplace.”

 

About SLR Equipment Finance

SLR Equipment Finance specializes in providing equipment loans and leases across a wide spectrum of asset classes including manufacturing, construction, transportation, oil and gas and more. Our investment professionals have decades of experience providing financings to small and medium sized businesses. SLREF provides a collateral specific approach to equipment based term loans/leases for new/used equipment (terms up to seven years) to companies operating in the US and Canada. Our transactions range from $1 Million to $50 Million and focus on the underlying collateral value.  Visit www.slr.approvalserver.com for more information.

About WorkplaceDynamics, LLC

Headquartered in Exton, PA, WorkplaceDynamics specializes in employee feedback surveys and workplace improvement. This year alone, more than two million employees in over 6,000 organizations will participate in the Top Workplaces™ campaign—a program it conducts in partnership with more than 40 prestigious media partners across the United States. Workplace Dynamics also provides consulting services to improve employee engagement and organizational health. WorkplaceDynamics is a founding B Corporation member, a coalition of organizations that are leading a global movement to redefine success in business by offering a positive vision of a better way to do business.

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