GSG Financial, a leading captive equipment finance company, announced that GSG financed record originations of $117 million in 2018. The growth came from both captive and captive outsourced equipment as GSG expanded its major account program. With the launch of GSG Asset Management and Remarketing (GSG AMR), GSG saw significant interest from third party lessors for asset management services and was able to exceed 200% of residual realization on its own portfolio.
Commenting on the company’s results, GSG President Andrew Bender said, “With the asset expertise in GSG AMR and the expansion of our originations platform, we’ve proven the thesis behind becoming a captive. We were able to grow originations by almost 50% in 2018 and we’ve nearly doubled originations since 2016. I’m proud of what the team has accomplished and am excited about how we are positioned for expanded growth in the future.”
With over $117 million in originations in 2018, GSG Financial has financed over $500 million since inception. Under its captive originations, GSG Financial focuses on developing customized and flexible major account financing programs in the material handling industry. The proprietary Master Lease Program tailors solutions across credit, asset, structure, documentation and billing to meet end user’s needs. With the increased reporting required with ASC 842, GSG Financial has been working with end users to customize real time reporting. GSG’s Captive Outsource Finance Program works with manufacturers and resellers to bring GSG Financial’s best practices and access to capital to the forefront to help vendors sell more, faster.
GSG AMR provides a full-service approach to asset management for third party lessors with a focus on material handling assets. GSG works with lessors to provide front-end residual support to asset removal and remarketing and the services in between. The GSG AMR turnkey solution helps equipment finance companies focus on their expertise – equipment finance. Chris Meeks, GSG AMR’s SVP of Lessor Relations added, “Asset Managers look for multiple sources to bid their equipment, but don’t always pursue multiple actions. Rather than just wholesaling equipment or putting it out to bid, there’s an opportunity to rent or retail quality used equipment. We’ve been working on educating the industry on both multiple source and multiple action opportunities. In 2018, we were able to put over 100 refurbished material handling assets back out on rent, creating additional value for our lessor partners as well as savings for our customers.”
GSG AMR services can be acquired as part of a complete solution or can be utilized individually. Core services include refurbishing, buying, selling, and renting previously-owned material handling equipment. GSG AMR also supports lessor partners with front-end residual analysis support, logistics, inspections, appraisals/valuations, and storage. Their skilled technical team will provide repair and refurbishing services on forklifts, construction, and other industrial equipment.
GSG Financial is a captive equipment lessor and financial solutions provider based in New York City. GSG Asset Management and Remarketing provides logistics and remarketing services for material handling equipment for third party lessors. GSG Financial partners with organizations to facilitate capital acquisitions through personalized service and customized financial products. The company’s core offerings consist of operating leases, capital leases and equipment finance agreements structured to meet the unique needs of each client. GSG’s primary industries include diversified industrial, copy and print, converged technology and energy. GSG leverages relationships to effectively connect vendors, end users and financial institutions with flexible financial packages. The signature single point of contact approach connects clients with the same experienced account executive from the beginning of the credit process to the time the equipment lease or loan is finalized.