Hilco Global Acquires All Assets of Leading National Fleet Management Company
NORTHBROOK, Ill., May 25, 2021 / PRNewswire / – Hilco Global (www.hilcoglobal.com), the world’s leading authority on asset valuation, monetization and advisory solutions, today announced that its sales and industry team has acquired all of the assets of Sutton Leasing, a leading fleet leasing company based at Sterling Heights Michigan, in a multi-million dollar transaction that closed on May 7, 2021.
the Hilco Commercial Industrial (www.hilcoci.com) plans to operate the business, managing the fleet rental portfolio which includes more than 7,000 cars, trucks and other transportation equipment. The new company will be called H19 Sutton Leasing and will be added to the H19 group of companies which includes the IndianapolisBased on H19 Capital, acquired by Hilco in 2020 and specializing in truck rental.
H19 Sutton Leasing will remain one of the top ten fleet management companies in United States, having additional offices in Northbrook, IL. and Vandalia, OH, while maintaining the head office in Michigan. Huron Consulting Services acted as financial advisor and its registered affiliate brokerage acted as investment banker in this matter.
Steven tanzi, President of Hilco Performance Solutions said: “We are uniquely positioned for the acquisition of Sutton Leasing due to the success we had with the purchase of H19 Capital last year, as there are operational and administrative synergies. between the H19 truck rental operation and the assets of Hilco. and the acquisition of Sutton Leasing, focused on automotive, These synergies provide knowledge and services that will help to significantly improve the financial performance of the company in the future.
The transaction was structured using a combination of debt and equity. Hilco Commercial Industrial approached Wells Fargo to complete the transaction and financial details were withheld. Steven tanzi – Hilco Performance Solutions said, “Wells Fargo has been an exceptional bank, working together to help us structure the transaction and close very quickly and efficiently.”
“It has been a pleasure to work with Hilco Global’s innovative leadership team on this important funding,” said Lindsay gray, Managing Director, Wells Fargo Capital Finance. “We were able to structure a flexible financing solution and run a transparent and fast closing process within 15 days to meet customer inquiries. It was a great collaboration between all parties.”
H19 Sutton Leasing’s customers will experience a smooth transition as the new company plans to retain most of its staff for now. The new entity will be called H19 Sutton Leasing and will be headed by Steven tanzi, President of Hilco Performance Solutions who will occupy the position of Managing Director. The other officers who will manage the company are: David dye, Managing Director of Hilco Performance Solutions who will occupy the position of Chief Financial Officer; Bryan courcier Senior Vice President, Hilco Valuation Services, will serve as Chief Operating Officer; and Buddy Beaman Hilco Receivables Executive Vice President will serve as Commercial Director.
About Hilco Global: Hilco Global (www.hilcoglobal.com) is a privately held, diversified financial services company and the world’s leading authority on maximizing asset value for healthy and struggling businesses. Hilco Global operates as a holding company made up of over twenty specialized business units that strive to help companies understand the value of their assets and then monetize that value. Hilco Global has over 30 years of experience as an advisor, agent, investor and / or principal in any transaction. Hilco Global strives to deliver the best possible outcome by aligning interests with clients and providing them with strategic information, advice and, in many cases, the capital necessary to complete the transaction. Hilco Global is based in Northbrook, Illinois and has 600 professionals operating on five continents.
About Sutton Leasing: Sutton Leasing, Inc. operates as a fleet leasing company. The Company provides automotive vehicle rental, purchase and maintenance services, as well as open and end-of-term rental, cash flow and equipment financing services. Sutton Leasing serves its clients by United States.
SOURCE Hilco Global