Hitachi Capital America posts record growth in 2016

Hitachi Capital America Corp (HCA) has reported record growth in 2016 and announced plans for continued expansion in its commercial vehicle, business lending, and leasing activities throughout 2017.

Core growth last year included $3.8 billion in funded volume, an increase of 65% from 2015, while total assets rose 44% from 2015 to reach $2.8 billion.

“As we work through our mid-term management plan, the successes of this past year will serve as the foundation for our growth going forward,” said president and COO Ryan Collison. “Each of our diverse business divisions positively contributed to the overall growth of the company and we look forward to continuing this trend in 2017.”

Collison highlighted HCA’s commercial finance division as being of particular note. It finished 2016 with $1.7 billion in assets, up 68% from the prior year; this growth came through both strong organic origination and the acquisition of Creekridge Capital (now Hitachi Capital America Vendor Services).

Mark Duncan, senior vice president and general manager of HCA’s commercial finance division, said: “We are very pleased with the strides HCA made in 2016 to enhance its suite of lease and loan products for our commercial clients and see tremendous opportunities to continue this momentum into 2017; these areas include an increased focus on middle-market syndicated lending in business finance, introducing a first-class inventory procurement/financing solution in trade finance, and furthering our clean technology lending capabilities via structured finance.”

In addition, 2016 proved to be a strong year for origination in the commercial automotive financing division. “Combined with Hitachi Capital Canada, HCA financed 28,000 commercial truck and trailers, totaling nearly $1 billion in transaction volume. This performance is a testament to the strong, knowledgeable, and driven team in place at HCA,” said Robert Otto, executive vice president and president and GM of the automotive division.

“We also see the addition of a new president at CLE Leasing – Francois Nantel – as an opportunity to further expand our Canadian business, which grew assets 40% in 2016.”