LeaseTeam announced that longtime customer Commercial Industrial Finance (CI Finance), an equipment leasing and finance business with more than 30 years of experience providing sales-aid finance programs to manufacturers, vendors and distributors, was recently acquired by CBank, a full-service commercial bank headquartered in Cincinnati.

The acquisition enables CBank to expand its current commercial offerings with an equipment leasing and finance capability, while CI Finance will continue serving the commercial, industrial and municipal markets with the financial backing of a full-service bank.

Through the years, LeaseTeam has been able to provide leading-edge technology to support CI Finance’s evolving business needs, enabling it to continue providing superior service to companies of all sizes and industries. CBank’s recent acquisition further illustrates ASPIRE’s flexibility to support the business growth and strategic goals of banks’ equipment lease and finance business lines of all sizes, both now and in the future. 

“I have had the pleasure of working with LeaseTeam for many years in my previous life as an independent and later post-acquisition by another bank many years ago. They are consummate professionals,” said Bob Rinaldi, CEO at CI Finance. “Moreover, LeaseTeam invests their time, talent and treasure in furtherance of our industry with their involvement with the Equipment Leasing and Finance Association (ELFA).” Rinaldi further stated that it’s reassuring to have a software partner that is in the same boat with their customers in protecting and advancing our industry.

“We’ve enjoyed a long relationship with CEO Bob Rinaldi, President Scott Hawkins and the team from Commercial Industrial Finance here at LeaseTeam, and we’re proud to have the opportunity to work alongside CBank going forward,” said Randy Haug, co-founder and executive vice president at LeaseTeam. “We are confident that ASPIRE will continue to support Commercial Industrial Finance’s growth as the company begins its next chapter.”