Norwalk, CT, Feb. 7, 2017 – Hitachi Capital America Corp, a leading specialty finance company, announces a very strong performance for 2016 with plans for continued expansion in 2017.
Highlights of the company’s core growth include:
• $3.8 billion in funded volume, an increase of 65 percent from 2015
• $2.8 billion in total assets, up 44 percent from 2015
As a key player in the commercial vehicle, business lending, and leasing space, Hitachi Capital America (HCA) strengthened its platform capabilities in 2016 through increased investments in personnel, products, and services, all designed to enhance the quality and variety of its financing solutions.
“As we work through our Mid-Term Management Plan, the successes of this past year will serve as the foundation for our growth going forward,” says President and COO Ryan Collison. “Each of our diverse business divisions positively contributed to the overall growth of the company and we look forward to continuing this trend in 2017.”
Of particular note is HCA’s Commercial Finance division, which finished 2016 with $1.7 billion in assets, up 68 percent from the prior year; this growth came through both strong organic origination and the acquisition of Creekridge Capital (now Hitachi Capital America Vendor Services). HCA Vendor Services, a best-in-class vendor solutions provider with specializations in information technology and health care, is well positioned to expand rapidly as it continues to support third party vendors as well as the Hitachi group companies.
“With the addition of nearly 100 new employees over the past year, Hitachi Capital America remains committed to providing value-add solutions that help a growing company’s bottom line,” says Mark Duncan, senior vice president and general manager of HCA’s Commercial Finance division. “We are very pleased with the strides HCA made in 2016 to enhance its suite of lease and loan products for our commercial clients and see tremendous opportunities to continue this momentum into 2017; these areas include an increased focus on middle-market syndicated lending in Business Finance, introducing a first-class inventory procurement/financing solution in Trade Finance, and furthering our clean technology lending capabilities via Structured Finance.”
As another HCA milestone, 2016 proved to be a strong year for origination in the Commercial Automotive Financing division. “Combined with Hitachi Capital Canada, HCA financed 28,000 commercial truck and trailers, totaling nearly $1 billion in transaction volume. This performance is a testament to the strong, knowledgeable, and driven team in place at HCA,” says Robert Otto, executive vice president and president and GM of the automotive division.
“We also see the addition of a new President at CLE Leasing – Francois Nantel – as an opportunity to further expand our Canadian business, which grew assets 40 percent in 2016 and is bringing new and innovative solutions to market in the New Year.
“As we begin the second month of 2017, we look forward to even greater advancements across the company. With a heavy focus on being responsive to market needs, Hitachi Capital America is eager to fill the voids in areas where our capabilities can make a positive difference for our clients,” says Collison.
About Hitachi Capital America Corp.
Hitachi Capital America Corp. is an independent, diversified leasing and financial services company providing financing to commercial businesses and other Hitachi companies in the United States. We offer a variety of senior secured financing solutions with a focus on truck, trailer, and floorplan financing; trade financing; medium/small ticket financing; structured financing; vendor financing; and asset-based lending.