Commercial Credit acquires Keystone Equipment Finance

By D.Ann Shiffler03 January 2022

The Keystone acquisition expands CCI’s transaction range in key industries.

Commercial Credit, Inc. (CCI), a Charlotte, NC-based equipment and accounts receivable finance company and the parent company of Commercial Credit Group Inc. (CCG) and Commercial Funding, has acquired Keystone Equipment Finance Corp. Terms of the transaction were not disclosed.

Based in Connecticut, Keystone Equipment Finance Corp. provides small-ticket equipment financing specializing in the transportation and construction related industries. Keystone will operate as a wholly owned subsidiary of CCI, gaining and leveraging CCI’s resources, the company said. Keystone’s operations and management will remain in place, with no expected change in personnel.

Dan McDonough, CCI president and CEO, said, “The Keystone acquisition is highly attractive as it expands our transaction range in the industries to which we are committed and know well. Importantly, we share man similaarities with Keystone and look forward

Dan McDonough, president and CEO, Commercial Credit

 to working with Keystone’s accomplished management team as we continue to build our differentiated independent equipment finance business. Combining our highly complementary businesses will drive new benefits for both companies, our customers, and employees.”

Todd Kaufman, Keystone’s president, said the cultural fit and CCI’s resources are a perfect match to “perpetuate our long and successful track record. We are excited to provide our vendors and customers an expanded product line and continued exceptional service.”

Keefe, Bruyette & Woods, Inc., a Stifel Company (NYSE: SF), advised CCI in connection with the transaction and Hovde Group advised Keystone Equipment Finance Corp.

Commercial Credit, Inc., through its wholly owned subsidiaries Commercial Credit Group Inc. and Commercial Funding Inc., provides equipment loans and leases to small and mid-sized businesses in the construction, fleet transportation, machine tool and manufacturing, and waste industries and accounts receivable factoring in a variety of industries. The company’s sales force is located throughout North America. Commercial Credit, Inc. is headquartered in Charlotte, NC and operates full-service offices in Buffalo, NY, Naperville, IL, Hamilton, ON and Salt Lake City, UT. 

Keystone Equipment Finance Corp., based in West Hartford, CT, is a nationwide provider of small-ticket equipment financing solutions specializing in the transportation and construction related industries. Keystone was  founded in 1972 and has built long-standing relationships withstanding many business cycles by a commitment to customer service, speed, and consistency, the company said.

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