Mitsubishi HC Capital Canada to finance Lion Electric EVs
Mitsubishi HC Capital Canada and ENGS Commercial Finance are providing financing to electric vehicle manufacturer Lion Electric for the company’s school bus and truck customers in the United States and Canada. Mitsubishi HC Capital America is set to absorb ENGS Commercial
H&E Equipment Services posts record rental revenue
H&E Equipment Services logged record rental revenue in the fourth quarter of 2022 due in part to favorable industry conditions and successful growth for the company. H&E recorded rental revenues of $245.0 million, up 34.6% year over year. For the full
Terex Corp. ends 2022 with $4.1B backlog
Equipment manufacturer Terex Corporation posted an increase in total backlog orders in 2022 as demand held steady across its aerial work platform and material processing segments. The company reported a record $2.9 billion backlog for their aerial work platforms (AWP) to
Equipment SaaS companies Texada, Uptake Canada complete merger
Equipment rental and mobile SaaS provider Texada Software and equipment dealer SaaS provider Uptake Canada completed a merger this week that will combine the services under a single brand. The merged company will combine software into a bundled SaaS platform that
DLL closes first ABS deal of 2023
Vendor financier DLL closed its first asset-backed securitization deal of 2023 on Feb. 2 — an $850 million transaction backed by loans and leases secured by agricultural, golf course and turf equipment. The pool consists of: 73.6 % loans and 24.6%
As banks tighten credit, equipment financers see opportunity
Equipment financiers remain optimistic about 2023, even as inflation and recession fears continue to linger. “Our folks haven't missed a beat during the last recession; they haven't missed a beat when interest rates are high, they don't miss a beat when
Cat Financial revenues jump despite drop in new business volume
Cat Financial, the finance subsidiary of equipment manufacturer Caterpillar, posted increased revenues despite declining new business volume thanks to favorable interest rates. For the full year, Cat Financial posted $11.4 billion in originations, a decline of 13.3% from 2021, according to
Expanded Equipment Finance Connect agenda focuses on best practices for finance operations
Royal Media’s newly expanded agenda for the 2023 Equipment Finance Connect emphasizes educational sessions on best practices for finance operations. Equipment Finance Connect, taking place Feb. 27 and 28 at the Westin Charlotte, includes engaging workshops, roundtable discussions and professional networking
THOR inks deal for Starlink internet in RVs
THOR Industries is entering into an agreement with spacecraft manufacturer SpaceX's Starlink to provide internet to select recreational vehicles. THOR-manufactured Airstream, Entegra Coach, Jayco and Tiffin RVs will have the option of a factory-installed Starlink, which provides low-latency, high-speed internet
Equipment companies turn to bundling, SaaS solutions
Equipment companies are bundling products and services including maintenance and warranties to create turnkey solutions for customers. A growing trend in the equipment industry is the shift to an “as-a-service” approach, with companies wanting one provider that can do everything, equipment
