IRVINE, CA, January 30, 2019 – Nexseer Capital marked the completion of 2018 on a trajectory of growth and transformation. Nexseer continues to increase volume and balance sheet assets as part of its transformation to a direct lender since the company was acquired by funds managed by Atalaya Capital Management LP in July 2016. Nexseer also completed a number of strategic initiatives and made several important hires during year.
Transaction volume grew 23% during the year and direct balance sheet originations grew over 300%. FYE revenue also increased 20%. While origination dollar volume remained steady during 2018, the company has realized a 15% CAGR in originations since acquisition.
Some notable transactions include $17MM of Solar Projects for an investment grade corporate and several California cities, the purchase of $2.1MM of lease paper for a medical company emerging from bankruptcy, and the commencement of a $36MM progress funding facility for a food processing company.
The company, which rebranded to Nexseer Capital from CG Commercial Finance in 2018, also completed a number of important initiatives during the year including: expanding its credit facilities, adding an intermediary buy desk, expanding the Credit, Accounting and Finance departments, and completing a brand launch.
Scott McCullum, President of Nexseer, said, “2018 was an historic time for our company. We were effectively able to leverage our expanded capabilities and financial strength to help businesses across a wide variety of industries and business situations. While balance sheet strength and funding capacity may serve as the framework of success, it’s our people and their persistent commitment to solving customer problems that makes a year like 2018 a reality.”
The deal structuring experts at Nexseer Capital solve for the equipment and project finance needs of mid-sized and large companies. Nexseer leverages its decades of experience executing large and complex finance transactions across a range of asset classes, structures, geographies, and economic cycles to be a capital resource and problem solver. In other words, Nexseer helps its customers to move from complexity to clarity.