Wintrust Commercial Finance provides $18.5 million to help fund strategic acquisition
Frisco, TX – April 6. 2016 – Wintrust Commercial Finance (WCF) recently provided $18.5 million in capital lease financing on material handling and construction assets for a major provider of outsourced services to the steel industry. Proceeds from the financing were used to complete a strategic business acquisition. “This transaction further demonstrates WCF’s flexibility in working with its strategic syndication partners and their customers to deliver a customized solution to provide needed capital,” said Tom Forbes, senior vice president of Capital Markets for WCF. Ryan Berlage, senior vice president of Credit for WCF added, ”WCF’s ability to meet with the customer to structure an attractive financing arrangement allowed us to add a reputable customer and desirable asset class to our growing portfolio.” Since its inception in April, WCF has approved more than $450 million in financings. WCF is an equipment-focused financing group, headquartered in Frisco, Texas, offering sophisticated loan and lease products to commercial companies throughout the United States and Canada. Focus industries include transportation, construction, manufacturing, energy services, aviation and turnkey property, plant and equipment, among others. WCF is a business unit of Wintrust Financial Corporation.
About Wintrust Wintrust Financial Corporation is a financial holding company with assets of $23 billion and a common stock traded on the NASDAQ Global Select Market. Built on the "HAVE IT ALL" model, Wintrust offers sophisticated technology and resources of a large bank while focusing on providing service-based community banking to each and every customer. Wintrust operates fifteen community bank subsidiaries with over 150 banking locations in the greater Chicago, southern Wisconsin and northwest Indiana market areas. Additionally, the Company operates various non-bank business units including one of the largest commercial insurance premium finance companies operating in the United States and Canada; a company providing short-term accounts receivable financing and value-added out-sourced administrative services to the temporary staffing services industry; a business unit engaging primarily in the origination and purchase of residential mortgages for sale into the secondary market throughout the United States; and companies providing wealth management services.
For more information contact: Thomas G. Forbes, Senior Vice President, Capital Markets – Wintrust Commercial Finance 469-777-5649