Verdant Commercial Capital Obtains $75 Million Subordinated Debt Facility Provided by Värde PartnersJune 22, 2022
CINCINNATI — Verdant Commercial Capital announced it recently closed on a $75 million subordinated debt facility provided by Värde Partners, a leading global alternative investment firm.
This capital will augment Verdant’s existing financing, allowing the company to further expand its balance sheet and help fuel Verdant’s rapid growth. Ultimately, this financing will help dealers sell more equipment by providing more access to equipment financing and make financing options more flexible for their customers.
“Additional capital helps support Verdant’s significant growth forecast these next few years as we continue our mission of helping our partners sell more equipment through flexible financing solutions,” said Mike Rooney, CEO of Verdant Commercial Capital. “Our new relationship with Värde is an important component to our long-term growth prospects.”
In under five years, Verdant has grown to be one of the top 10 independent equipment finance companies in the United States, with six divisions powering its growth: Industrials; Manufacturing; Specialty Vehicle; Golf, Sports & Entertainment; Renewables & Energy Efficiency; and Technology & Office Automation. Securing this additional capital is an endorsement of the Verdant platform that we believe efficiently originates exceptionally performing assets through its relationships with Tier I OEMs, dealers, distributors, and sellers of capital equipment.
“We found the flexibility of the Värde facility, including the ability to draw down on the line as we continue to expand, the most efficient vehicle for us,” said Robert Moskovitz, CFO of Verdant Commercial Capital. “This facility adds to our capital base fueling Verdant’s growth and building our balance sheet.”
“Verdant is increasingly establishing itself as a leader in equipment financing and we welcome the opportunity to support the company’s successful growth story,” said Aneek Mamik, Partner and Global Co-Head of Financial Services at Värde Partners. “Across the non-bank sector, lenders are increasingly able to provide faster and more flexible financing solutions that are better suited to individual customer and business needs. We see a significant and scalable investment opportunity to provide the alternative capital necessary to drive the continued growth of the non-bank sector.”
Värde Partners has more than 20 years of experience investing in consumer and commercial credit. The firm currently manages c.$2 billion of financial services debt and equity investments across a variety of underlying asset classes including secured and unsecured consumer loans, commercial equipment finance, billboards, residential housing and consumer and commercial credit cards.
About Verdant Commercial Capital
Verdant Commercial Capital is one of the top ten largest independent equipment finance companies in the United States. Verdant provides financing solutions for the acquisition of critical equipment and software in six industries: Industrials; Manufacturing; Specialty Vehicle; Golf, Sports & Entertainment; Renewables & Energy Efficiency; and Technology & Office Automation. Verdant brings partners the ability to fund business with transaction sizes from below $25,000 up to $100 million. The company is headquartered in Cincinnati and has offices in Dallas, Detroit, Los Angeles, and Minneapolis. Verdant was named a 2022 Top Workplace by The Enquirer Media. For more information, visit www.verdantcc.com.
About Värde Partners
Värde Partners is a leading global alternative investment firm with roots in credit and distressed. Founded in 1993, the firm has invested $90 billion since inception and manages over $13 billion on behalf of a global investor base. The firm’s investments span corporate and traded credit, real estate and mortgages, private equity and direct lending. Värde has offices in Minneapolis, New York, London, Singapore and other cities in Asia and Europe. For more information, please visit www.varde.com.