Riverside, California, September 19, 2018 – Effective today, Fleet Financing Resources (FFR) announces it has been acquired by Marlin Business Services Corp., a New Jersey-based publicly traded bank holding company (NASDAQ:MRLN) that provides nationwide capital solutions to businesses.
Fleet Financing Resources, one of the nation’s top specialty lenders with a solid foundation rooted in transportation equipment financing, will be integrated into Marlin as the cornerstone of the newly-formed Commercial Vehicle Group. Headed by FFR President and CEO, Dave Reynolds, the entire FFR team will transition to make up the Marlin Commercial Vehicle Group which will serve to significantly bolster direct origination capabilities.
“The acquisition of FFR, which originated more than $75 million in 2017, fits well within our vocational strategy for the transportation market by focusing on the financing of transportation equipment used by businesses,” said Jeffrey Hilzinger, Marlin’s President and CEO. “Overall, this acquisition allows us to significantly accelerate our growth in the commercial vehicle and titled transportation markets with a proven and successful team that has significant expertise in these markets.”
“On behalf of the team at FFR, we are very pleased to now be part of Marlin,” said Mr. Reynolds. “This transaction is extremely positive for both our employees and our customers by providing a great opportunity to continue to build on our track-record of success. As part of Marlin, we believe there is a tremendous opportunity to better support our customers while significantly accelerating Marlin’s growth in the commercial vehicle and titled transportation markets. The integration will supercharge existing capabilities in the context of the larger Marlin platform backstopped by the stability of a bank. This enables us to better serve our fleet customer by offering financing/leasing packages with maximum flexibility and lending capacity.”
About Fleet Financing Resources
Fleet Financing Resources, LLC is a California-based commercial lender having served over 4,300 fleet operator customers nationwide. With a proven 16 years of successful business history, FFR has originated over $650 million since inception. FFR specializes in the leasing and financing of both new and used titled transportation equipment —commercial vehicle fleets.
Marlin is a nationwide provider of capital solutions to small businesses with a mission of helping small businesses fulfill their American dream. Our products and services are offered directly to small businesses and through financing programs with independent equipment dealers and other intermediaries. Marlin Business Services Corp.is publicly traded (NASDAQ:MRLN). For more information about Marlin, visit www.marlinfinance.com or call toll free at (888) 479-9111.