North Mill Equipment Finance, LLC Created from Colford Capital Acquisition

Colford Capital has acquired Equilease Financial Services, creating North Mill Equipment Finance LLC. Dan Zwirn is a co-manager and co-owner of ALDA Capital which holds a minority stake in Colford Capital.

Colford Capital is a New York City based holding company focusing on building an industry leading, diversified, specialty finance and asset management business. Colford also owns North Mill Capital, a national asset based lending and receivable factoring company.

Equilease has been originating equipment leases and loans under 55 years of experience. They have also had a history of purchasing and servicing equipment lease and loan portfolios from banks and other finance companies. Since 2002, Equilease has bought over 30 lease and loan portfolios totaling over $1 billion of asset value. According to their website, they have done this primarily in the following industries:

• Transportation
• General Construction
• Road Construction
• Manufacturing
• Distribution
• Recycling
• Plastics
• Packaging
• Printing

Colford announced that they have acquired "substantially all of the assets" of Equilease. To service the acquisition of Equilease, Colford created a subsidiary, North Mill Equipment Finance LLC, and has made a significant equity investment into North Mill. The press release states they will use this investment to originate new small-ticket leases through vendors, dealers and brokers, as well as to purchase more lease portfolios as the newly branded North Mill.

Dan Zwirn's ALDA Capital is an investor in Colford Capital, which has acquired Equilease Financial Services.

Equiliease President, CEO and owner, Gary Silverhardt, will remain President and CEO of North Mill and own a minority stake of shares. The Equilease team will remain in place and in their location in Norwalk, Connecticut, while joining North Mill.

Colford currently manages over $2 billion in capital and is majority owned by Monitor Clipper Partners. ALDA Capital, co-managed and co-owned by Dan Zwirn and Al Gordon, is the other primary investor.


Full Press Release