North Mill Equipment Finance, LLC and TF Group, Inc. (Taycor Financial) announced the acquisition of 100 percent of the stock of the parent company of Aztec Financial, LLC from an affiliate of Aramsco, Inc.
Aztec is an equipment finance company offering specialty contractors access to competitively priced leases and loans, and Aramsco is the largest supplier of equipment, chemicals and consumables to specialty contractors across the U.S. and Canada. North Mill, a commercial equipment lessor located in Norwalk, CT, will assume the existing portfolio of Aztec’s leases and servicing capabilities while Taycor, a technology-driven finance provider in El Segundo, CA, will assume the vendor relationships and origination capabilities from Aztec’s long-standing, leading market position in the restoration, professional cleaning and surface preparation industries. All existing employees of Aztec will either join North Mill or Taycor.
“We are beyond excited to be part of Taycor and North Mill. The partnership will allow Aztec to offer a broader array of financing products to meet the needs of our valued vendor and customer relationships,” said John Sirrine, founder and CEO, Aztec. “In addition, we are thrilled to now have available a world-class technology platform that will enhance our vendors’ ability to reach an increasingly mobile customer base. New products and enhanced technology will propel Aztec to the next level and continue to position us as a market leader in the industries that we serve.”
“We welcome Aztec with open arms into the Taycor family,” said Michael Hong, CEO, Taycor. “Amazing things happen when great organizations join forces. The combination of Aztec and Taycor will supercharge access to capital for end-user customers and borrowers, enabling us to dramatically expand our exclusive financing partnership with Aramsco, distributors, and franchise partners alike. By uniting Aztec’s streamlined approach with Taycor’s expanded range of financial products and proprietary technology stack -- designed to enhance human interaction and transparency -- we will deliver a smoother, faster finance experience with a lot more approvals and transactions.”
“We are thrilled to bring onto the North Mill team a talented group of professionals with deep experience in servicing a large portfolio of small-ticket leases in these specialized professional services industries,” said David C. Lee, Chairman and CEO, North Mill. “In keeping with our strategy of being 100 percent referral partner centric, we are delighted to partner with Taycor to independently take Aztec to the next level of origination capabilities.”
Keefe, Bruyette & Woods, Inc., a Stifel Company, acted as the exclusive financial advisor to Aztec Financial, LLC in connection with the transaction.