CG Commercial Finance ended 2017 achieving a number of growth milestones, both economically and organizationally. The company experienced substantial year-over-year growth in lease originations, revenue, and profitability. The company also increased its balance sheet funding capabilities and made a number of significant new hires in its first full year since the company was acquired by funds managed by Atalaya Capital Management LP.
Originations grew by approximately 20% during the year versus 2016. Transactions included $25MM for a mortgage services company, $9MM for a food processing company, $8MM for manufacturer of auto parts, and $7.5MM for a power company.
The company grew from 26 employees at the end of 2016 to 38 today, adding talent across the originations, fulfillment, finance, and accounting departments. Among the noteworthy hires for the year include Sohini Roy, Chief Financial Officer; Michael Gay, EVP and GM; Shari Williams, EVP – Credit and Risk Management; Richard Petrucci, SVP Credit Manager; Michael Curtis, VP Sales; and Celenia Kurtz, Funding Coordinator.
CG Commercial Finance also announced the closing of the company’s credit facility and the expansion of its warehouse facility during the year.