ATEL Announces $9MM Rail Car Lease with Westlake Chemical
ATEL Leasing Corporation (“ATEL”) is pleased to announce the completion of a Q4 equipment lease transaction with Westlake Chemical Corporation for 187 covered hopper rail cars for Westlake’s recently acquired Axiall Corporation entity.
This is ATEL’s first transaction with Westlake Chemical and expects to service this new relationship for years to come. “ATEL is proud to have worked with Westlake management to provide financing for the company’s rail fleet right on the heels of their closing a very complex acquisition”, said ATEL Capital Group Chairman and CEO, Dean Cash. “We look forward to working with Westlake...
ATEL Leasing Corporation (“ATEL”) is pleased to announce the completion of transactions for over $15MM with two Class 1 Railroads. These latest transactions are for distinctly different assets, rail cars and maintenance trucks, and for two distinctly different carriers.
ATEL is very pleased to maintain our momentum in the building of our rail portfolio. As one of the Top 10 independent rail lessors, our knowledge of both customers and assets in this category have served our investors well over the years.
Accounting for 69 percent of U.S. freight rail mileage and 90 percent of employees, America’s Class I freight railroads operate in 44 states across the country and concentrate...
ATEL Leasing Corporation (“ATEL”) is pleased to announce the completion of an aircraft lease transaction to L3 Technologies, Inc. (L3), formerly known as L-3 Communications Corporation.
This lease represents a new relationship for ATEL with L3, and as ATEL Leasing Corporation’s EVP, ”L3 is one of the more interesting companies in our long list of Fortune 1000 customers. This specific transaction is for an aircraft asset that is an ideal complement to the broad range of assets in our diversified portfolio.”
Headquartered in New York City, L3 Technologies employs approximately 31,000 people worldwide and is a leading provider of a broad range of communication, electronic and...
ATEL Leasing Corporation (“ATEL”) is pleased to announce the completion of a lease transaction for 30 barges with Big Rivers Electric Corporation.
ATEL’s lease with Big Rivers fulfills our charter to finance long lived equipment with excellent credit worthy customers. The formation of Big Rivers has been the leader in cooperative model for over 80 years and we are pleased to have them as a customer.
Big Rivers Electric Corporation is a member-owned, not-for-profit, generation and transmission cooperative (G&T) headquartered in Henderson, Kentucky. They provide wholesale electric power and services to three distribution cooperative members across 22 counties in western Kentucky. The...
ATEL Leasing Corporation (“ATEL”) is pleased to announce a new financing relationship with LafargeHolcim. ATEL leased to LafargeHolcim various Drills and Surface Mining Equipment at their Marblehead, Joilet and Morrison Quarries. This is ATEL’s first transaction with LafargeHolcim since the merger.
“ATEL is proud to work with LafargeHolcim, as our deep understanding of their business strategy allows us to support their ongoing financing needs,” said ATEL Capital Group Chairman and CEO, Dean Cash. “We look forward to working with them on additional transactions in 2018.”
LafargeHolcim is the leading global construction materials and solutions company serving masons,...
ATEL Leasing Corporation (“ATEL”) is pleased to announce the acquisition of chassis valued at $9,826,655 MM leased to Matson, Inc.
Matson Inc., listed on the NYSE (MATX) and an S&P 600 Component, is a U.S. transportation services company that provides comprehensive freight shipping and logistics operations to countless terminals across the Pacific. Since 1882, the company has maintained a crucial transportation lifeline to the economies of Hawaii, Alaska, Guam, Micronesia and various islands across the South Pacific.
“ATEL is pleased to provide lease financing for these chassis that are used to distribute container-shipped goods across the United States,” announced Dean Cash,...
ATEL Leasing Corporation (“ATEL”) is pleased to announce the following three transactions funded in Q4 2016. Walmart Transportation, LLC. ATEL continues its long-standing relationship with Walmart; this time for over $18MM of Refrigerated Trailers. ATEL’s relationship with Fortune #1 dates back to 1994. Walmart is the world's largest company by revenue, as well as the largest private employer in the world with 2.2 million employees.Rich Logistics, subsidiary of Roadrunner Transportation Systems (RRTS)ATEL priced, structured and arranged the $16 million lease financing of 53’ Wabash Dry Van Trailers. Rich Logistics is a trucking company that provides premium logistics services based...
ATEL Leasing Corporation (“ATEL”) is pleased to announce the completion of
a $14.5 million lease transaction with American Electric Power’s (AEP)
business unit, Indiana Michigan Power Company (“I&M”). The lease involves
Open Top Hopper Barges to be used for I&M’s Ohio River operations.“As one of the largest power companies in the nation, AEP contributes
significantly to the US economy and we are proud to have them as a customer
for many years,” said Dean Cash, Chairman and President, ATEL Capital
Group. “ATEL’s lease with I&M fulfills our charter to finance equipment
that fuels the US economy and supports its largest companies.”Indiana Michigan Power...
ATEL Leasing Corporation (“ATEL”) is pleased to announce the completion of
a $10.85 million lease transaction with Waste Management of New York. This
latest transaction involves the financing of over 1,000 intermodal waste
containers to be used as part of the City’s ambitious plan to improve the
export infrastructure for the Department of Sanitation.“ATEL is very pleased to play a part in Waste Management’s ambitious and
significant plan” said Ken Fosina, Executive President, ATEL Capital Group.
“ATEL’s expertise with hard assets and servicing the needs of Fortune 500
customers led to the successful completion of this transaction.”Waste Management serves more than 21...
ATEL Capital Group launched several new private institutional funds
generating commitments of $500 million of equity to be invested in low-tech
equipment operating leases.“This increased equity capital will allow us to double our funding of true
leases to our customers over the next 18 months,” said Dean Cash, Chairman
and CEO of ATEL Capital Group. “As the economy has gone through economic
ups and downs over the last 40 years, ATEL has been and remains a
consistent funding source for American industry during all business cycles.”In advance of this new capital, ATEL Leasing Corporation expanded its lease
origination and syndication teams with experienced, high-level producers...
Mr. Cash graduated from FSU with degrees in psychology and math, and went on to earn an MBA in 1975. He is a member of the Florida State Foundation Board of Trustees, and was among four business leaders recognized for their professional accomplishments and community contributions at the 13th Annual Hall of Fame Dinner and Ceremony at the Florida State Turnbull Conference Center.
Since 2003, the college has honored 35 alumni who embody the qualities that make the College of Business an exceptional place to learn and grow, and who have excelled in their careers and made significant contributions to the college and their professions. Candidates are selected based on their record of...
ATEL Leasing Corporation (“ATEL”) is proud to announce the completion of a
lease transaction with Bayer Corporation. The lease transaction calls for
ATEL to supply Bayer with a variety of business-necessary equipment
including those used in laboratory testing. The $5 million of equipment
ATEL is leasing Bayer will be used by Bayer’s consumer health division, At
HealthCare, in their research and development efforts.ATEL Capital Group President and CEO Dean Cash states “Bayer Corporation
continues to be one of our most valued customers. ATEL has the right mix of
resources to provide timely capital for corporations such as Bayer and we
look forward to working with them again in...
ATEL Leasing Corporation (“ATEL”) is proud to announce the completion of a
$17.5MM equipment lease transaction with Chiquita. The contract calls for
ATEL to lease to Chiquita refrigerated containers for cold storage
transportation of their products.The 40 foot refrigerated MAERSK containers are equipped with a ventilation
system that is specifically required for banana transportation. The
insulated containers are used in ground and sea transportation and will
keep produce refrigerated for up to 50 days.“ATEL welcomes and is pleased to be leasing with Chiquita Brands.” said
ATEL Capital Group President and CEO, Dean Cash. “An iconic brand and a
household name, Chiquita...
Earlier this month, ATEL Ventures, Inc. ("AVI") portfolio company Xlumena
was acquired by Boston Scientific for $62.5M. Xlumena, a venture-backed
medical device company, develops, manufactures, and sells minimally
invasive devices for Endoscopic Ultrasound (EUS) and is used to treat
pancreatic and biliary disease. In a statement, CEO of Xlumena Greg
Patterson said, "We are proud to see our technology evolve in conjunction
with Boston Scientific's portfolio and provide patients a holistic and
minimally invasive solution."Venture capital firms investing in Xlumena include Ascent Biomedical
Ventures, Aperture Venture Partners, and Prism Venture to name a few.
Xlumena started with a $3M...
ATEL Leasing Corporation (“ATEL”) is proud to announce the completion of a
$17MM equipment lease transaction with the Union Pacific Railroad Company
(“UP”). The contract calls for ATEL to lease GE AC4400CW locomotives to UP.
The 6-axle 4,400 horsepower locomotive is a powerful freight hauler
commonly used to pull coal trains. The GE AC4400CW represents 20% of UP’s
total locomotive fleet.“Union Pacific Railroad Company has been a valued partner with ATEL over
many years,” said Dean Cash, President and CEO of ATEL. “Fortune 500
company, Union Pacific, strengthens our portfolio and further reinforces
the company’s investment philosophy of providing industry leading...
ATEL Capital Group’s subsidiary, ATEL Leasing Corporation ("ATEL"), is
proud to announce it will exhibit at the Annual 2014 Association for
Financial Professionals (AFP) Conference in Washington, D.C., at the Walter
E. Washington Convention Center. The company will participate at the
conference during November 2-5.Finance professionals have stated that in the ever-changing global economic
climate, it is imperative they leverage the conference to assess all
available resources that enable streamlined operations and reduced
expenses. The ATEL Leasing team is excited to introduce the most
forward-thinking methodologies for financing capital equipment to the 6,500
treasury and finance...
ATEL Growth Capital (“AGC”) is pleased to announce that Defense.net, an
ATEL Growth Capital portfolio company, has been acquired by F5 Networks,
Inc. (NASDAQ: FFIV). F5 Networks, a provider of application delivery
networking products, has agreed to acquire Defense.net for an unspecified
amount. The acquisition will bolster F5’s internet security technology and
products. As an early venture lender to Defense.net, the ATEL Funds
provided the company with an asset collateralized loan. As part of the loan
terms ATEL was also provided warrants that are exercisable to purchase
shares of Defense.net.“This landmark year is shaping up to be one of AGC's best,” said Steve...
ATEL Leasing Corporation (“ATEL”) announces today the recent acquisition of
a coal transfer facility valued at $32MM leased to a subsidiary of American
Electric Power (“AEP”).AEP, listed on the NYSE and an S&P 500 component, is a U.S. electric
utility supplying over 5 million customers in 11 states. The company owns
the largest electricity transmission system and is one of the largest
generators of electricity in the nation at 38,000 megawatts.“ATEL is pleased to provide lease financing for this strategic facility
that is used to distribute coal to power plants along the Ohio River,”
announced Dean Cash, President and CEO of ATEL. “For over 100 years, AEP
ATEL Growth Capital. (“AGC”) is proud to announce that Silverpop, an ATEL
Growth Capital portfolio company, was recently acquired by IBM.Silverpop was provided an equipment financing credit line by ATEL, in which
the terms of the loan agreement stipulated that Silverpop’s loan provide
warrants permitting ATEL to acquire its stock.“A leader within the digital marketing solution space, Silverpop embodies
the type of business models and growth prospects we look for in every ATEL
portfolio company,” said Steve Rea, Executive Vice President at ATEL. “The
company’s acquisition by IBM further fuels the strong activity that we are
experiencing this year within our...
ATEL Ventures Inc. ("ATEL") is proud to announce a new partnership with LED
module producer Xicato, Inc. ATEL has provided Xicato with a multimillion
dollar equipment financing facility to help bolster the company's
production of a new line of LED modules at its San Jose, California,
facility."Xicato goes above and beyond the original equipment manufacturer's already
stringent processes by tuning each LED module so that it provides the best
"quality of light", said Steve Rea, Executive Vice President of ATEL
Ventures. “ATEL is pleased to be supporting Xicato in their efforts to push
the LED industry to higher quality standards. We look forward to continuing
Ecologic Brands ("Ecologic"), an ATEL Growth Capital company, has announced
that they have completed an additional round of financing of $7 million.
New investor Kruger Inc. ("Kruger") was included in the financing round and
will become the exclusive licensee and manufacturer of Ecologic's paper
bottle technology in Canada."We are thrilled to partner with Ecologic, a company whose goal is to
provide differentiated and innovative sustainable packaging solutions to
consumers around the globe," said Michael Lafave, Senior Vice President,
Containerboard/Packaging & Recycling at Kruger Inc. "We are especially
excited to bring the Ecologic paper bottle technology to our customers...
ATEL Growth Capital ("AGC") is pleased to announce that Five9, Inc. an ATEL
Growth Capital portfolio company, had its initial public offering ("IPO")
on April 4, 2014. Listed under the symbol "FIVN" on the NASDAQ, Five9
raised over $350 million in the first day of trading and traded up 9.14%
from the IPO price.The ATEL Funds were a venture lender to Five9, providing an asset
collateralized loan. As part of the loan agreement, ATEL received warrants
to acquire Five9 stock. Based on the closing price of Five9's stock on
April 21st, ATEL's Funds have an unrealized gain of $1.1 million."Five9's successful IPO continues the strong momentum that ATEL has built
from the beginning of the...
ATEL Leasing Corporation ("ATEL") is pleased to announce the completion of
a $39 million equipment lease transaction with Halliburton Company.Halliburton Overseas Limited leased a well stimulation vessel, Stim Star
Angola, to be used in Halliburton's West African operations.The Stim Star Angola was manufactured in 2004 and was upgraded with
numerous engineering innovations in 2008. The vessel is used in all phases
of production and stimulation including acidizing, acid fracturing,
proppant fracturing and sand control.
ATEL Growth Capital is pleased to announce that LS9, Inc., an ATEL Growth
Capital portfolio company, has been acquired.As an early venture lender to LS9, the ATEL Funds provided an asset
collateralized loan of $4 million for 36 months. ATEL was collateralized by
LS9's production facility in Okeechobee, Florida. ATEL Funds received
warrants to acquire LS9 stock as part of the loan agreement. The
acquisition of LS9 caused the loan to be repaid early with pre-payment
penalties and purchase of the warrants. ATEL Funds netted over $1.1 million
in profit and an internal rate of return ("IRR") of more than 20% in 21
months.LS9, Inc. is a leader in the technology behind the development...
ATEL Leasing Corporation ("ATEL") announced that it completed its best year
in over a decade. For fiscal year ending December 2013, ATEL recorded a 38%
increase in overall business volume versus 2012.ATEL attributes the performance to an ever expanding Fortune 1000 customer
base and continued support from its current customers. "ATEL is proud of
the momentum, but it is only the beginning of our resurgence," said Ken
Fosina, Executive Vice President of ATEL Leasing Corporation."In 2013 we saw top flight performances from Capital Markets and great
traction with new customers from Direct Origination. Excellent hires and a
strategically improved business model helped us achieve record...
On Tuesday, November 5, 2013 ATEL 16, LLC (“ATEL 16”) was declared
effective by the U. S. Securities and Exchange Commission. The Fund was
formed to invest primarily in a diversified portfolio of low tech equipment
leased to major U.S. corporations who are considered “High Quality
Corporate Credits”. ATEL 16 will have an offering of $150 million of equity
and is ATEL Capital Group’s (“ATEL”) 23rd syndicated program, including 14
prior public programs.“We are proud to announce the release of ATEL 16 to the investment public,”
said Dean Cash, President and CEO of ATEL. “In the face of unpredictable
economic conditions, diversification is essential to maintaining a...
ATEL Ventures Inc. ("ATEL") is proud to announce that ecoATM, an ATEL
Growth Capital portfolio company, has been acquired for approximately $350
million in cash. Outerwall (NASDAQ: OUTR), owner of Redbox DVD kiosks and
Coinstar machines, has agreed to purchase ecoATM with the takeover having
closed in late July. As an early venture lender to ecoATM, the ATEL Funds
were provided warrants that were exercisable into nearly 70,000 shares of
ecoATM stock."We are pleased with the outcome of our investment in ecoATM," said Steve
Rea, Executive Vice President at ATEL. "Of the 175 million mobile devices
that are sold each year in the United States, only 20% are collected and
ATEL Leasing Corporation ("ATEL"), in partnership with Allegheny
Technologies Incorporated ("ATI"), is pleased to announce an agreement
whereby ATEL will provide ATI with an equipment leasing facility to acquire
material handling and construction assets.ATEL will lease to ATI Caterpillar forklifts and a scrap crane. The
equipment will be used at various locations throughout the United States
and reflects the increase in construction activity in this country.ATI is one of the largest and most diversified specialty metals producers
in the world, with revenues of approximately $5.2 billion for the last
twelve months. With approximately 11,300 full-time employees in more than
On December 8, 2012, ATEL Capital Group completed its relocation to the
Transamerica Pyramid building. The relocation of the company's headquarters
from California St. reinforces ATEL's commitment to the San Francisco
market; where they have successfully cultivated their equipment leasing and
venture business growth and success for 37 years.The 10 year lease is for the building's 20,053 square foot ninth floor.ATEL Capital Group's President and CEO, Dean Cash stated, "The move to the
Transamerica Pyramid building underscores the company's long and successful
history in San Francisco and highlights the growth of its business as well
as the strength of its brand and client...
ATEL Growth Capital. is proud to announce that the first half of 2012 was
the best ever in company history. For the six months ending June 30, 2012,
the company's funded dollar amount increased by over 370% compared to the
previous period in 2011.The change in the economic landscape beginning in 2008 allowed ATEL Growth
Capital to capitalize on an emerging growth industry that is dependent upon
venture debt and lease financing to capitalize their business expansion.The company attributes the record increase to a favorable lending climate,
strong relationships within the venture capital community and ATEL's
connection with entrepreneurs in the emerging growth industries. "We are
ATEL Capital Group is pleased to announce the liquidation of ATEL Cash
Distribution Fund V (the "Fund"). The Fund has completed the sale of its
remaining assets as of November 16, 2012 and will be making a distribution
to its investors in December 2012.This special distribution will equal 10% of the original capital invested.
The Fund has also retained cash in a liquidating trust (the "Trust") to
cover estimated expenses that may be incurred over the next twelve months.
After this period, remaining cash will be distributed from the Trust to the
investors/beneficiaries.With the closure of the Fund, ATEL continues its long standing record of
providing positive returns to its investors....
ATEL Leasing Corporation is pleased to announce the successful completion
of a $30mm lease line for over-the-road trailers with Wal-Mart Stores, Inc.ATEL and Wal-Mart have enjoyed a mutually fruitful and longstanding
relationship and have financed over $85mm of equipment in the past 3 years
alone. For accounting purposes, the lease is structured as an operating
lease and a true lease for tax purposes."The closing of this lease line highlights the critical importance for a
lessor to provide the "three R's" when working with a customer," commented
Bill Bullock, ATEL's Senior Vice President, Leasing. "Customers primarily
care about Reputation, Reliability and Rate. One of the decisions a...
ATEL is pleased to announce the completion of a multi-million equipment
lease with Tyson Foods, Inc. (NYSE: TSN) ATEL provided lease financing for
over-the-road trailers for the delivery of Tyson's protein products across
the United States.an JBS S.A., and annually exports the largest percentage of beef out of the
United States. With 2010 sales of $28 billion, Tyson Foods is the
second-largest food production company in the Fortune 500, the largest meat
producer in the world, and according to Forbes one of the 100 largest
companies in the United States.The company makes a wide variety of animal-based and prepared products at
its 123 food processing plants. Tyson Foods has...
ATEL Leasing Corporation is pleased to announce the funding of a $47
million dollar lease with The Sabine Mine Co.Sabine is a wholly owned subsidiary of the North American Coal division of
publicly traded NACCO Industries (ticker symbol NC). The funding consisted
of two tranches closed in August and December of 2009. The transaction
involved the comprehensive rebuild and leasing of two Bucyrus Erie Model
1570 Walking Dragline Shovels. The shovels are used to excavate lignite
coal which is then used to generate electricity at the Pirkey power plant
operated by Southwestern Electric Power Company located in Texas."ATEL's solution was a true "win-win" arrangement with Sabine....
Sorry, no results found...