ITASCA, IL – December 4, 2018 – ENGS Commercial Finance Co. (”ENGS”), an industry leading commercial finance company, is pleased to announce that it has closed on the sale of all shares of ENGS to Mitsubishi UFJ Lease & Finance Company Limited (“MUL”).
MUL is a prominent global leasing company headquartered in Tokyo and its principal shareholders include Mitsubishi Corporation, a leading Japanese trading and investment company, and Mitsubishi UFJ Financial Group, Inc., one of the world’s leading financial institutions. With this acquisition of ENGS, MUL has expanded its global reach of vendor finance into North America. ENGS will continue to expand its existing relationships and markets with its vendors and will also be the North American vendor-based platform for MUL’s international clients.
“We are extremely excited to become part of the MUL family,” commented Craig Weinewuth, President and CEO of ENGS. “The strength and power of the MUL brand worldwide is unrivaled. Becoming the North American vendor finance platform for MUL will provide great benefits to our employees, vendors and customers. Together with MUL’s existing U.S. businesses, we will be able to offer our vendor and customer clients global products and services that very few in the U.S. can match.” Mr. Weinewuth continued, “MUL and ENGS share the same vision to become the leading commercial finance company in the U.S. We know that in order to achieve this, we have to provide the best products and services to our clients. With the strength and resources of MUL behind us, we will be in an even better position to achieve this.”
What does this mean for our vendors and customer partners? There will be no change with your ENGS contacts. All our personnel will remain the same. We will operate as ENGS Commercial Finance Co. a subsidiary of Mitsubishi UFJ Lease and Finance Company Ltd. We will continue to offer the same products, plus many more. Ask us about our FMV leasing products, financing to fleets, dealer lease lines, rental house financing, customer refinancing of other bank debt, sale-leasebacks and portfolio acquisition products.
About Mitsubishi UFJ Lease & Finance Co., Ltd. (“MUL”.)
MUL is a publicly traded company on the Tokyo Stock Exchange under 8593 and reported 2018 revenues of ¥869.9 billion. MUL was founded in 1971. The U.S. is a high priority region for MUL. MUL, through its wholly-owned subsidiary Mitsubishi UFJ Lease & Finance (U.S.A.) Inc (“MULUSA”), has supported capital investment of Japanese companies in the U.S. since 1985. In recent years, MULUSA has expanded its capital investment to U.S. based companies through its Corporate Asset Finance Division based in San Diego. It has grown its global asset business in the U.S. through its acquisitions of Jackson Square Aviation, LLC, a leading aircraft leasing company, Beacon Intermodal Leasing, LLC, a marine container leasing company and full entry into freight car leasing through an alliance with Greenbrier Leasing Company.
About ENGS Commercial Finance Co.
ENGS Commercial Finance Company (ENGS) is a U.S. based industry leading, full-service commercial finance company. ENGS specializes in Equipment Finance, Working Capital Finance, and Insurance. ENGS offers industry-specific vendor finance programs with a commitment to Service, Speed and Simplicity. Since 1952, ENGS has been consistently lending and helping our customers expand their businesses. ENGS is recognized as a leading independent finance company in the U.S. by The Monitor.