Transportation Division Expands Market Capabilities Following Company Integration
On the heels of our integration with ENGS Commercial Finance and Mitsubishi HC Capital (USA), the Transportation Division is moving forward with expanded lending resources and industry talent.
Joining forces
This integration is truly bringing together two industry powerhouses. ENGS has a long-standing reputation in over-the-road truck financing, while Mitsubishi HC Capital America is a leader in work truck lending with cross-border reach through Mitsubishi HC Capital Canada. Together, we believe we create an unparalleled financing partner for companies in the transportation industry.
The combination makes our company the largest non-bank, non-captive commercial finance provider in North America, with more than $7.5 billion in owned and managed assets. As an independent lender with decades of experience and history, we are well-positioned to increase our market leadership through financial solutions that include retail loans, leases and inventory financing for commercial vehicles classes 1 through 8.
The timing of this integration couldn’t come at a better time. As the economy deals with uncertainty, our stability and appetite to do deals when traditional lenders are tightening their credit availability makes us an attractive and critical option for the transportation market. Plus, with this integration, we’ll be expanding the use of our proprietary digital platform – which means faster, easier, more convenient service for customers.
New roles
The Transportation Division operates under one of our company’s two primary operating businesses, the $3.9 billion Vendor Solutions business. Jim Freund is our new President of Vendor Solutions, and I’ll be working with him as Executive Vice President and Head of Transportation. Joining me in the senior leadership group are Ann Brodette, Senior Vice President of Sales for the eastern region, and Dave Herring, Senior Vice President of Sales for our western region.
We are working effectively as a team, thanks in large part to our collective experience. I’ve been with Mitsubishi HC Capital America since 2017, most recently serving as Senior Vice President and General Manager of Transportation Finance. Before that, I’ve held sales, marketing and business development leadership roles in the transportation sector over a career spanning more than 30 years, with companies including Equify, LLC, GE Capital, Financial Federal Credit, Inc. and CitiCapital Commercial Corporation.
Ann Brodette held the position of Managing Director of the Transportation Division at ENGS, where she led seven regional sales teams. She has more than 30 years of top-performing sales experience and team/workforce development, and holds a Project Manager Professional certification.
Prior to his new role, Dave Herring was Vice President and General Manager, Work Truck Finance at Mitsubishi HC Capital America. There, he led his team to a milestone $1 billion in loan originations. He has more than 25 years of experience in business development and leadership in the transportation financial services.
Four new Vice Presidents of Sales round out the team: Jack Dison, central region; Kevin Fassnacht, Midwest region; David Fritzshall, eastern region; and Jay Saul, western region.
A shared culture
One of the most important factors that has driven out company’s success to date is the culture of care that we share with each other and with our customers. Our goal is to continue to develop that culture with our integrated team. It’s the building of trust with the people we work with that enables us to create strong, long-standing relationships with our customers – our business partners.
As we move through some times of economic uncertainty, we’ll be maintaining our focus on doing what’s best for our customers and navigating whatever comes our way. With our company’s tremendous stability as a base, we will continue to lead with sound judgment, patience, open communication – and a healthy sense of humor. We’re grateful for our customers and our business, and look forward to the road ahead, wherever it takes us.