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Utica Equipment Finance Completes Three Transactions Totaling $10.15MM in First Week of March

March 15, 2023, 07:24 AM
Filed Under: Equipment Finance News

Utica Equipment Finance announced the completion of three transactions totaling $10.15 million in the first week of March. 

  • $1.38MM Capital Lease secured by construction and material handling equipment to a company located in Texas. The lessee provides a variety of premium services with a focus on pipeline construction, and facility construction in the utility, construction, maintenance, and energy sectors. With Utica’s funding they were able to acquire new equipment.
  • $2.8MM Capital Lease secured by construction equipment. The company specializes in complex and unique foundation construction, consisting primarily of all types of piles, earth retention, and concrete forms. They have been serving the New York Metro area for over 15 years. The company was purchased with the intention to focus on larger public and private contracts in the greater NY area. Utica’s funding was used to fund the acquisition.
  • $6MM Capital Lease secured by various cranes, attachments, and service vehicles to a crane rental and services company located in New Jersey. The company specializes in tower crane rentals for high rise structures both commercial and mixed use in NY, IL, CA, PA, & NJ. They also offer rentals for tower crane climbers along with a patented climbing basket structure used for internal climbing for high rise structures. Utica’s funding was used to fund the buyout of an existing partner.

Utica Equipment Finance provides companies in a wide array of industries with collateral and credit-based equipment financing products ranging from $1,000,000 to $50,000,000.

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