Norwalk, CT – For immediate release: North Mill Equipment Finance LLC (“North Mill”), a leading independent commercial equipment lessor located in South Norwalk, CT, announced today the closing of its inaugural securitization transaction, NMEF Funding 2015-A, which was completed on May 7, 2015.
NMEF Funding 2015-A issued two classes of equipment finance-backed notes totaling $122 million, which included a pre-funding account of $25 million for additional leases and loans. 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 securitization is a significant milestone in the company’s 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 enjoyed working with the North Mill team to make this happen, and we look forward to supporting the company’s plans for continued growth.”
About North Mill Equipment
Finance North Mill has over 55 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 and currently manages over $2 billion in capital. For more information, visit www.colfordcapital.com.
For further information, contact: Gary Silverhardt, President and CEO Andy Yuder, Managing Director North Mill Equipment Finance LLC BB&T Capital Markets Phone: (203) 354-6006 Phone: (212) 822-8152 Email: gsilverhardt@northmillef.com Email: ayuder@bbandtcm.com