Blue Bridge Financial, a specialty lender that caters to manufacturers, vendors, and distributors of commercial equipment, has obtained a $40 million securitization facility from Sun Life Assurance and Securicor.
Blue Bridge, founded in 2009 and backed by Buttonwood Capital Management, a joint venture between Triton Pacific Capital and Carillon Capital, has made over $120 million in loans to date, according to information posted on its website.
In a press release issued this week, the company said that the facility, which is backed by commercial equipment loans, will enable it to expand its market share.
"This facility represents a watershed event,” said Mark DeBacker, the company’s chief executive. “It allows us to fully migrate to a portfolio lending model, which will provide in-house servicing for all of our business borrowers and origination partners.”
DeBacker added that “the scale and economics of this transaction will also provide us an opportunity to expand our product offering and allow for more competitive pricing across our product suite."
The transaction also expands both Sun Life's and Securcor's presence in the U.S. equipment finance industry. Sun Life is funding the facility through its primary life insurance subsidiary, Sun Life Investment Management.
Securcor is a specialized structured finance operation, and leading service provider of customized securitizations, receivable and structured financing programs in Canada.