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Hitachi Capital America Acquires Hennessey Capital; Enters ABL and Factoring Businesses

November 01, 2012, 07:42 AM
Filed Under: Mergers & Acquisitions

Effective November 1, 2012, Hitachi Capital America Corp. acquired the assets and operations of Michigan-based Hennessey Capital LLC, which will operate as a division of Hitachi Capital America to further improve its capability of providing asset-based lending and factoring to businesses nationwide.

“The addition of the Hennessey Capital team and infrastructure to our company is a perfect strategic fit, highlighted by a successful business relationship over the past year,” said William H. Besgen, president of Hitachi Capital America. “Their factoring and asset-based lending products complement financing options we currently provide to Hitachi companies and their customers, enabling us to enhance the value we offer; both now and in the future.”
Since 2002, Hennessey Capital has been providing working capital financing to help companies increase cash flow and enhance profitability. “This was an opportunity for us to partner with a company who shares our philosophy of helping grow entrepreneurial companies and providing superior client service,” said Michael Semanco, president of Hennessey Capital. “This partnership will give us access to greater resources as we develop our business model for the future.”

Hitachi Capital America Corp. was incorporated in October 1989 and commenced business operations in April 1990. Hitachi an independent, diversified leasing and financial services company headquartered in Norwalk, CT and provides financing to Hitachi group companies and the commercial business sector of the United States and are wholly owned by Hitachi Capital Corporation, Tokyo, Japan.   

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