SOURCE: CoActiv Capital Partners

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.

Contact Information

  • Contact:

    Marc Donahue
    CoActiv Capital Partners
    267/960-4043