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Heavy Equipment Distribution

Capital City Group Utilizes Syndicated Finance Solution to Expand Its Fleet

When Capital City Group sought to convert cranes from rentals to assets, the J.P. Morgan banking and Equipment Finance teams facilitated a solution to expand the client’s fleet.


Based in Columbus, Ohio, Capital City Group (CCG) is a leading provider of crane rentals, equipment sales, construction-hoist rental and sales, and heavy hauling and storage in the Midwest and mid-Atlantic regions.

What Was the Challenge?

To remain competitive in a capital-intensive industry, CCG  pursued an opportunity to purchase cranes that were being rented with the objective to improve cash flow.

Syndication Enhances the Financial Relationship

The J.P. Morgan banking and Equipment Finance teams worked together with CCG to provide an optimal solution for CCG’s long-term objectives. The team sourced capital from multiple investors, which achieved several wins:

  • Expanded CCG’s access to the debt-capital markets
  • Preserved J.P. Morgan’s capital for CCG’s future strategic initiatives
  • Allowed J.P. Morgan to remain CCG’s primary point of contact, as it bills, collects and services the equipment loans on behalf of the investors

Summary

  • CCG sought an equipment loan structure that matched the amortization with expected cash flow
  • The J.P. Morgan banking and Equipment Finance teams outlined a solution and sourced capital through its network of investors to achieve CCG’s financing and growth objectives
  • The team’s leadership provided strong market receptivity and swift execution, enabling CCG to quickly implement and see the benefits of its crane acquisition

By the Numbers

$9.5MM

Deal size

2

Investors

100%

Syndicated financing


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