ELFA - Equipment Leasing and Finance Association - Equipping Business for Success

North Mill Equipment Finance Completes its Second Securitization for $111.15 Million

Posted 06/16/2016

North Mill Equipment Finance LLC (“North Mill”), a leading independent commercial equipment lessor located in South Norwalk, CT, has announced the closing of its second securitization transaction, NMEF Funding 2016-A, which was completed on June 13, 2016. NMEF Funding 2016-A issued two classes of equipment finance-backed notes totaling $111.15 million. The transaction was rated by Kroll Bond Rating Agency and the notes received ratings of A (sf) and BBB (sf). The portfolio of leases and loans is secured mostly by transportation equipment, including heavy and medium duty trucks, cargo vans and other vehicles, and construction, manufacturing and other equipment. BB&T Capital Markets was the book runner, structuring and placement agent of the notes. North Mill will continue to be the servicer of the underlying assets. Gary Silverhardt, President and CEO of North Mill, stated, “This second securitization is a further demonstration of the company’s strength and continued growth. It enhances our access to capital and enables us to expand our equipment finance activities.” Andy Yuder of BB&T Capital Markets said, “This transaction provides additional capital the company needs to offer equipment financing to its customers. We are proud to have partnered with the North Mill team to add to their continued success, and we look forward to supporting the company’s plans for continued growth.” About North Mill Equipment Finance North Mill has nearly 60 years of experience originating equipment leases and loans. For more information, visit www.northmillef.com. North Mill is a subsidiary of Colford Capital Holdings LLC, a New York City based holding company that is building a diversified and industry-leading specialty finance and asset management business through acquisitions, strategic partnerships and new business development. In addition to North Mill Equipment Finance, Colford owns North Mill Capital, a national asset based lending and receivables factoring company based in Princeton, NJ. Colford is majority owned by Monitor Clipper Partners, a private equity firm that targets growth-oriented businesses with strong management teams. For more information, visit www.colfordcapital.com.

 

 

Author
Gary Silverhardt, President and CEO
Organization
North Mill Equipment Finance LLC
Phone Number
203) 354-600