ENGS Commercial Finance closed on the sale of all shares of ENGS to Mitsubishi UFJ Lease & Finance Company Limited.
MUL is a prominent global leasing company headquartered in Tokyo and its principal shareholders include Mitsubishi Corporation, a leading Japanese trading and investment company, and Mitsubishi UFJ Financial Group, Inc., one of the world’s leading financial institutions. With this acquisition of ENGS, MUL has expanded its global reach of vendor finance into North America. ENGS will continue to expand its existing relationships and markets with its vendors and will also be the North American vendor-based platform for MUL’s international clients.
“We are extremely excited to become part of the MUL family,” commented Craig Weinewuth, president and CEO of ENGS. “The strength and power of the MUL brand worldwide is unrivaled. Becoming the North American vendor finance platform for MUL will provide great benefits to our employees, vendors and customers. Together with MUL’s existing U.S. businesses, we will be able to offer our vendor and customer clients global products and services that very few in the U.S. can match.
“MUL and ENGS share the same vision to become the leading commercial finance company in the U.S. We know that in order to achieve this, we have to provide the best products and services to our clients. With the strength and resources of MUL behind us, we will be in an even better position to achieve this.”