First Financial Corporate Services, Inc. (FFCSI), a major independent provider of equipment leasing and financial solutions in the U.S. and Canada, announced the signing of a definitive acquisition agreement with JA Mitsui Leasing, Ltd. Under the agreement, JA Mitsui Leasing, Ltd. (JAML), headquartered in Tokyo, through its subsidiary JA Mitsui Leasing USA Holdings, Inc. will acquire 100 percent of First Financial Corporate Services, Inc. and the majority of its holdings.
JA Mitsui Group (JAMG) is expanding operations in North America, and will combine FFCSI’s infrastructure, expertise and people with JAMG’s financial strength and customer network to expand leasing services offered in North America.
Established in 2000, FFCSI helps customers acquire new technologies in three key markets: Healthcare, Warehouse Automation, and Information Technology.
“Over the years, our dedication to these core markets has proven that we have the knowledge needed to provide our customers with creative solutions while evolving in these dynamic markets,” said Tom Slevin, FFCSI Co-Founder and Co-President. “Our new relationship with JA Mitsui will provide tremendous opportunities for us to expand our presence while exploring new opportunities to reach a broader customer base.”
Richard Stebbins, FFCSI Co-Founder and Co-President added, “We are very pleased to join the JA Mitsui leasing family and serve as the cornerstone of their growth strategy throughout the U.S. and Canada. Upon completion of the acquisition, our current management and team will remain in place, and the company will continue to use the First Financial Corporate Services, Inc. brand we have built. Our customers, vendors and partners will continue to receive the same outstanding service and support that have been the building blocks of First Financial for almost 20 years.”
“Ours is a people-based business and our long-term success truly belongs to our remarkable team who continually elevate the customer experience and are experts in their respective industries,” noted John Sandoval, FFCSI’s Chief Financial Officer and Chief Operating Officer. “During this integration, I look forward to growth opportunities as we extend our services into new markets and leverage JA Mitsui’s great people, customer relationships and brand recognition.”
CrestMount Advisors served as financial advisor to FFCSI.
FFCSI is an independent provider of equipment leasing and financial solutions for businesses and healthcare providers using technology. The company assists in the management of equipment lifecycles and acquisition of new technology in three main markets: healthcare, material handling and automation, and information technology. Headquartered in Southern California, FFCSI has multiple regional office locations across the U.S. and Canada.
JAML is a Japanese equipment leasing company providing leasing and financial solutions in Japan and globally (offices in Asia and North America), with total operating assets of over $10 billion. Its primary shareholders are: The Norinchukin Bank and Mitsui & Co., Ltd.