Marlin moves into vehicle leasing

Founded in 2002, FFR specializes in the leasing and financing of both new and used commercial vehicles, with an emphasis on livery equipment and other types of commercial vehicles used by small businesses. Since its inception, the company as provided financing solutions to more than 4,300 businesses nationwide while originating over $650 million in leases and loans during that period.

The acquisition, Marlin’s second in recent years, is consistent with its stated strategy of augmenting organic growth with strategic acquisitions that extend the company’s existing equipment finance business into new markets.

Jeffrey Hilzinger, Marlin’s president and CEO said: “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 small businesses.

“In addition, approximately 70% of FFR’s origination volume is direct to end users, which is consistent with our emphasis on expanding Marlin’s direct origination capabilities.”

With the acquisition, FFR will become Marlin’s Commercial Vehicle Group, which will now be headed by David Reynolds, FFR’s co-founder, president and CEO.

Reynolds said: “On behalf of the team at FFR, I am very pleased to now be part of Marlin. 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.”