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

Equify Financial Announces Closing of Pilot Securitization, AA Rated

Posted 10/13/2023

Equify Financial, a leader in providing asset-backed finance solutions to a diverse set of industries, is pleased to announce the successful closing of its latest securitization, EQFY 2023-1. The total value of the securitization reached an impressive $157,991,000 in large ticket equipment notes.

Through the guidance of ATLAS SP PARTNERS, Equify Financial collateralized asset-backed structured finance loans with the issuance of 3 classes. These notes, classified as Class A (AA Rating), Class B (A Rating), Class C (BBB Rating) received favorable ratings from DBRS Morningstar.

Notably, the senior class of notes in Equify Financial’s first asset-backed securitization in its history, EQFY 2023-1, received the prestigious AA rating from DBRS Morningstar.

“We are proud to support Equify Financial’s inaugural securitization, which will provide the Company’s customers with more efficient access to financing for mid and large-ticket equipment to enable their growth,” said Thomas Pai, Head of Auto / Equipment Origination at ATLAS SP Partners. “We have deep experience helping issuers like Equify go to market for the first time, and we look forward to continuing to partner with the Company to deliver capital solutions to advance its business objectives.”  

This successful offering demonstrates the strength of Equify Financial's portfolio and preferred credit profile, attracting new investors while maintaining the support of existing institutional investors. The leading role of ATLAS SP Partners as the lead manager and structuring agent underscores the strong market confidence in Equify Financial. This is the first successful transaction for Equify Financial to date, solidifying its position as a driving force in the industry.

Justin Wilks, CEO of Equify Financial commented "Our esteemed banking and financial partners, who provide vital finance options through our warehouse line and securitized bonds, are integral to Equify's success. Their unwavering support enables us to deliver value to our customers, create opportunities for our shareholders, and strengthen our position in the market. Furthermore, I'd like to emphasize that our recent success in achieving an AA rating for our senior tranche bond underscores the trust and confidence that our banking and financial partners have placed in Equify. This rating reflects our shared commitment to maintaining the highest standards of financial stability and security in our industry."

Kent Hammett, Executive Vice President of Equify Financial, who joined the company shortly after it’s incorporation in 2013 said this: “We are very pleased to have achieved such a milestone – the first securitization for our company. This supports the aggressive growth plans of Equify Financial and we are grateful for the opportunity to have presented this investment to the financial markets. On behalf of the executive team, we thank the internal Equify team and our external partners who made major contributions to this achievement.”

Michael Babb, General Counsel for Equify Financial, said, “This is a great achievement for every member of the Equify team.  A tremendous amount of work went into making our first securitization an enormous success and we couldn’t be more grateful to all of our team members and our partners who helped make this possible.”  The Equify team was assisted in this effort by Bob Rinaldi of Rinaldi Advisory Services.

Equify Financial is thrilled with the outcome of the EQFY 2023-1 securitization, which further enhances its capabilities to provide innovative financing solutions for major middle market organizations seeking a non-bank capital solution.

With this accomplishment, Equify Financial is well-positioned to continue its commitment to redefining financial relationships for new and existing clients.

For more information, please contact:

Michael Babb
General Counsel


Michael Babb
Equify Financial
Phone Number