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January 15th, 2019

Amur Equipment Finance Named Top Private Independent

The Top 25 Private Independents set a new record in 2017.

 

 

The Top 25 Private Independents set a new record in 2017, reporting $6,509.1 million in new business volume, up 12% from $5,812.3 million year-over-year. Twenty respondents achieved volume growth totaling $856.8 million, and five companies reported a net decrease of $159.9 million, resulting in a net positive variance of $696.9 million. TOP FIVE The top five reported a collective $3,530 million in new business volume, accounting for 54% of the total volume reported. The net year-over-year growth of the top five, $439.7 million, represented 63% of the total variance. THE RANKINGS – TOP FIVE Ascentium Capital retains the No. 1 crown, reporting its own record-breaking new business volume of $1,004.8 million, an increase of $106.3 million (11.8%) from $898.5 million in 2016. The bulk of Ascentium’s volume originated from the vendor/dealer channel, which provided $823.8 million or 82% of the total, with the balance attributed to direct (12%) and indirect (6%) originations. Ascentium reported significant gains in its direct channel, which grew by 42% year over year. Rising to No. 2 on a 32.6% year-over-year increase, Stonebriar Commercial Finance reported $970.8 million in volume, a mere $34 million shy of No. 1-ranked Ascentium. Stonebriar’s total volume was comprised of $251.1 million (26%) from indirect originations and $719.7 million (74%) from direct originations, which grew by 111% on a year-over-year basis. No. 3-ranked GreatAmerica Financial Services reported $932 million in new business volume, up $76 million (9%) from $732.1 million in 2016 and primarily derived from $890 million vendor origi-nations, which accounted for 96% of total volume, with the remaining 4% coming from indirect activity. With LEAF Commercial Capital out of the running after its acqui-sition by People’s United Bank, ENGS Commercial Finance rises to No. 4 with $375 million in volume, up $38 million (11.3%) year-over-year. ENGS’ vendor channel provided $355 million, or 95%, of its total volume, with direct originations of $20 million making up the remaining 5%. Joining the top five for the first time is Somerset Capital Group, which rises from No. 7 with $256.4 million in volume from its direct (59%), indirect (40%) and vendor (1%) channels. The leadership of the top five each take a unique approach to the equipment finance business, which they discuss in our second annual Top Five Independents roundtable (see page 20). TOP PERCENTAGE GAINERS The top five percentage gainers contributed 63%, or $437 million, of the net volume increase. New to the ranking this year, No.18-ranked CG Commercial Finance recorded a 70.5% year-over-year increase, the highest percentage gain of the group. United Leasing and Finance rose to No. 12 this year from its 2016 ranking of No. 19, thanks to a year-over-year increase of 37.3% ($48 million). Amur Equipment Finance reported the third-largest percentage increase of 37.3%, or $57.2 million, as it bounces back from last year’s drop in volume. Rejoining the ranking this year, Equify Financial reported a 36.8%, or $38.1 million increase. Rounding out the top five is Stonebriar, with a 32.6% increase. NEW ARRIVALS Fleet Advantage, Equify Financial and First Financial Corporate Services rejoin the ranking after a brief hiatus, and we welcome CG Commercial Financial to the fray for the first time. After a two-year absence, Fleet Advantage comes in at No. 9 with $201.1 million in volume derived entirely from its direct channel, up $33.4 million (19.9%) year over year. No. 16-ranked Equify’s direct originations provided 100% of its $141.8 million in volume as it rejoins after one year away. Irvine, CA-based CG Commercial Finance enters the ranking at No. 18, reporting $133 million in volume, sourced from direct (96%) and indirect (4%) originations. No. 24-ranked First Financial Corporate Services rejoins after a one year absence with $72.1 in new business volume, derived from its direct (86%) and vendor (14%) channels. Notably absent are LEAF Commercial Capital, which was acquired by People’s United Bank; Navitas Credit whose parent NLFC was acquired by United Community Banks and Nations Equipment Finance, which was acquired by Solar Capital. CCA Financial decided to opt out this year. 

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