Verdant Commercial Capital, LLC has acquired Intech Funding Corp. Intech is focused on financing and leasing for manufacturing companies nationwide.
Intech will operate as a wholly owned subsidiary of Verdant and maintain its operations in Monrovia, CA. All of Intech's employees will continue in their current roles and capacities, including Jeff Glikman and Ric Rivett as President and Senior Vice President, respectively. This acquisition will give Intech opportunity for more growth along with a stronger capital base to expand.
"I believe Intech and Verdant will be a powerful combination with greater strategic depth than we could have accomplished on our own," Glikman said. "The combination benefits our customers, vendors and employees, thus positioning Intech to be an even greater force in the marketplace."
"Verdant is led by Mike Rooney and a management team that helped grow PNC Equipment Finance into one of the largest equipment finance companies in the country," said a company spokesperson. Verdant operates in five principal markets: technology, office products, energy efficiency, specialty vehicle and industrials. "Verdant features a substantial capital base and now a shared vision with Intech to become an even greater force in the industrials market," added the spokesperson.
"I have long admired the way Jeff and Ric managed Intech. Their reputation in the machine tool market is unsurpassed and well deserved. Adding like-minded professionals, like the Intech team, who are focused on providing superior support to customers and vendors, is what Verdant is all about," Mike Rooney, CEO of Verdant, said. "We look forward to continuing the Intech success story."
For more information contact:
Verdant Commercial Capital, LLC
4540 Cooper Road, Suite 305
Cincinnati, OH 45242
513-769-2033
info@verdantcc.com
www.verdantcc.com
Intech Funding Corp.
201 E. Huntington Dr., Suite 201
Monrovia, CA 91016
800-553-9208 / 626-301-9944
www.intechfunding.com