Company Profile: Commercial Credit Group Inc. (CCG)
Overview
Commercial Credit Group Inc. (CCG) is a leading independent commercial equipment finance company headquartered in Charlotte, North Carolina. Since 2004, CCG has established itself as a prominent lender in North America, offering customizable funding solutions to businesses across the construction, manufacturing, transportation, and waste industries. CCG prioritizes enhancing customer experiences by providing tailored financial services, supporting clients throughout their loan lifecycles.
Financial Performance and Transactions
CCG has achieved significant milestones, funding over $7 billion in equipment loans through nearly 135,000 transactions. The company has successfully completed 18 securitization deals to date, including a recent $458.7 million term asset-backed security transaction. Notable deals and achievements include:
- $397 million ABS deal in March 2023.
- Originations surpassing $5 billion as of July 2020.
- Strong financial backing from investors such as Falfurrias Capital Partners and Lovell Minnick Partners.
Additionally, the company's estimated annual revenue stands at $87.2 million, with a revenue per employee of $262,500. Since its inception, CCG has originated approximately $3.5 billion in total finance receivables.
Management and Leadership
The leadership team at CCG is instrumental in driving the company's strategic growth, combining diverse expertise and industry experience:
- Dan McDonough, President & CEO: Founding leader, pivotal in establishing CCG as an industry leader.
- Don Pokorny, Executive Vice President: Key role in expanding CCG's operations.
- Michael Russing, Executive Vice President: Oversees strategic initiatives in national waste and manufacturing divisions.
- Paul Bottiglio, Senior Vice President & CFO: Provides critical financial oversight.
- Rebecca Sabo, Vice President & Chief Accounting Officer: Ensures robust accounting practices.
Key members also include Carrie Stephens, Vice President - National Accounts, and various Regional Vice Presidents: James Seela, Milan Hinich, Justin Mock, David DiCarlo, Brett Goodman, Brad Bullock, and Chad Coe, supported by Greg Johnson, Assistant Vice President.
Geographic Reach and Market Presence
CCG's operations span across North America, with offices in Charlotte, NC; Buffalo, NY; Naperville, IL; and Hamilton, Ontario, broadening its reach to serve increasingly diverse industries. The company's operations are reinforced by CCG Equipment Finance Limited, servicing Canadian provinces, and Manufacturers Capital, specializing in machine tool and fabrication equipment financing.
Unique Selling Proposition
CCG differentiates itself with a face-to-face funding approach, ensuring expert financing solutions with superior customer service. With over 11,000 loyal businesses, CCG is a trusted partner in client growth and success. This focus on customer-centric innovation has garnered awards, including a placement on North Carolina’s Top 40 Mid-Market Companies for twelve consecutive years.
Market Position & Strategy
The company positions itself strongly in niche markets, handling transactions typically ranging from $100,000 to $2,500,000. By employing a decentralized sales force and fostering long-term client relationships, CCG effectively meets specific customer needs with customized financial solutions.
Strategic Workforce
CCG employs 332 staff members, reflecting an 8% growth over the past year. This workforce expansion, aligned with CCG's strategic goals, supports continued innovation in funding solutions to cater to small and mid-sized businesses.
Competitor Profile
Competitive Landscape
CCG faces competition within the equipment finance sector from several companies including:
- Viking Mergers & Acquisitions
- BB&T Corporation
- Premier Lending
- Amur Equipment Finance
- Financial Pacific Leasing
- Navitas Credit Corp.
These organizations offer similar services, catering to the needs of small to mid-sized businesses.
Growth Indicators
CCG's strategic focus on niche markets and effective regional operations drives consistent growth. The company's proactive expansion of its workforce and service offerings aligns with its long-term growth trajectory, reinforcing its market position and enhancing customer engagement.
This comprehensive report details CCG's market presence, financial performance, operational strategies, and competitive landscape, providing valuable insights for stakeholders and potential clients.
