GSG hits record $117m originations

Commenting on the company’s results, GSG president Andrew Bender (pictured) said: “With the asset expertise in GSG AMR and the expansion of our originations platform, we’ve proven the thesis behind becoming a captive. We were able to grow originations by almost 50% in 2018 and we’ve nearly doubled originations since 2016. I’m proud of what the team has accomplished and am excited about how we are positioned for expanded growth in the future.”

GSG Financial has financed more than $500 million since launch. Under its captive originations, GSG Financial focuses on developing customized and flexible major account financing programs in the material handling industry.

GSG AMR provides a full-service approach to asset management for third party lessors with a focus on material handling assets. GSG AMR services can be acquired as part of a complete solution or can be utilized individually. Core services include refurbishing, buying, selling, and renting previously-owned material handling equipment. GSG AMR also supports lessor partners with front-end residual analysis support, logistics, inspections, appraisals/valuations, and storage. The technical team will provide repair and refurbishing services on forklifts, construction, and other industrial equipment.

Chris Meeks, GSG AMR’s senior vice-president of lessor relations explained: “Asset managers look for multiple sources to bid their equipment, but don’t always pursue multiple actions. Rather than just wholesaling equipment or putting it out to bid, there’s an opportunity to rent or retail quality used equipment. We’ve been working on educating the industry on both multiple source and multiple action opportunities. In 2018, we were able to put over 100 refurbished material handling assets back out on rent, creating additional value for our lessor partners as well as savings for our customers.”