SOURCE: CoActiv Capital Partners
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March 25, 2008 17:00 ET
CoActiv Capital Partners Launches Construction & Industrial Division; Appoints Tom Pagnotti as Division Head for New Business Unit
HORSHAM, PA--(Marketwire - March 25, 2008) - CoActiv Capital Partners (CoActiv), a Marubeni
Group Company, launched a new division focused on the specialized equipment
financing and leasing needs of the construction and industrial industries.
The new Construction & Industrial Division, one of several planned CoActiv
business expansions for 2008, will fill the need for creative, structured
and economical equipment financing and leasing solutions for industries
currently facing capital constraints from banks and other traditional
lenders.
"We have seen significant growth in program volume and increased
penetration from within our existing Technology, Healthcare and Banking
Divisions," said Steve Grosso, President and Chief Operating Officer. "We
see this as one of the next steps in our plan to broaden our capabilities,
becoming a more diversified financial services organization."
"The decision to launch a specialized Construction & Industrial Division
grew out of demands to more closely meet the needs of some of our existing
program partners that require nation-wide field sales support in these
industries. Frankly," continued Mr. Grosso, "we believe that there is
significant growth ahead in C&I. We have the systems and processes
in-place, and we have determined a real marketplace need. Most importantly,
our parent company's financial strength means we are not facing the
portfolio and capital challenges that many others are experiencing. Given
the stress in the capital markets and industrial space we believe this is
an opportune time to originate high-quality well-priced assets."
Tom Pagnotti, a 30-year leasing and finance veteran with experience in
launching and managing construction and industrial-based programs has been
named Vice President and Business Unit Director for this new division. Mr.
Pagnotti has held senior sales and management positions at equipment
finance organizations and major machinery manufacturers.
"We're delighted to have Tom at the helm of our new C&I Division," added
Don Campbell, CoActiv's Chief Executive Officer. "Tom brings a wealth of
experience in this business segment. But what's most impressive about Tom
is that he knows the importance of providing outstanding customer service
that will give our partner manufacturers and their dealers and distributors
a competitive edge in the marketplace."
"The C&I Division will include dedicated, in-field Account Executives who
will assure regional program success," continued Mr. Campbell, "while
Inside Sales Support Representatives with industry experience will provide
nationwide telephone and web-based contact with sales distribution channels
for seamless lease processing."
CoActiv's Construction & Industrial Division will focus on developing
branded finance programs with manufacturers of equipment for the
construction, agriculture, aggregate, machine tool, transportation,
materials handling, and manufacturing industries.
About CoActiv Capital Partners
CoActiv Capital Partners, headquartered in Horsham, PA, is one of the
fastest growing commercial equipment leasing finance companies in the
United States. CoActiv specializes in designing and implementing
private-label leasing programs to meet the needs of equipment manufacturers
in the healthcare, technology and construction and industrial business
segments, as well as for commercial banks.
CoActiv Capital Partners is part of Marubeni America Corporation (MAC), the
largest overseas subsidiary of Marubeni Corporation of Japan. MAC is
headquartered in New York City, with 7 other U.S. locations and 37
subsidiary and affiliated companies and access a network of over 120
Marubeni Group offices and 555 associated companies worldwide.
Marubeni America Corporation is located at 450 Lexington Avenue, New York,
NY 10017. CoActiv Capital Partners' headquarters is located at 655 Business
Center Drive in Horsham, Pennsylvania.
For more information, call 267-960-4000. For more information visit
www.CoActivCapital.com.