Dealers, lenders and manufacturers are advancing the equipment industry as opportunities, procedures and technologies emerge in equipment finance and operations.
With the Federal Reserve cutting interest rates this month and economic sentiment starting to turn favorable, prospects for a strong 2025 increase after inflationary pressures impacted some finance companies in 2024.
Consolidation, regulation and risk-sharing trends are likely to persist into 2025, placing more emphasis on collaboration and coordination for equipment dealers, lenders and manufacturers.
Equipment Finance News is pleased to name nine executives to watch in 2025. These execs found organizational success in 2024 with potential for a strong 2025.
Todd Bachman, president and chief executive, Florida Coast Equipment and Big Orange Rental
Florida Coast Equipment, an equipment dealer, acquired Winter Haven, Fla.-based Polk Tractor in July, forming the largest Kubota dealership group in the United States with 14 locations, according to Kubota’s website. Meanwhile, Florida-based Big Orange Rental is one of the largest equipment renters in the state and growing.
As president and CEO of both companies, Todd Bachman leads two key equipment businesses in one of the largest states.
Florida received significant funding from federal infrastructure legislation. So far, Florida has received $18.4 billion in infrastructure funding as of Sept. 3, according to the White House.
With more capital expected to flow into Florida after the Fed rate cut, Bachman’s organizations are set for a strong 2025. Given the expectation of the M&A market remaining strong and Florida Coast Equipment being well under the Kubota M&A limit, more growth could be on the horizon.
Melissa Fisher, chief risk officer, Mazo Capital Solutions
With some banks and financial institutions tightening their credit standards in 2024, the role of the chief risk officer is becoming more important. While conditions should improve in 2025 as interest rates and other economic conditions improve, portfolio management remains key as pandemic-era loans remain.
Melissa Fisher joined Mazo Capital Solutions in her role in June following a four-year stint at Taycor Financial, where she was chief operating officer after working as the vice president of syndication. Fisher’s more than 30-year career in financial services adds extra credibility to Mazo Capital Solutions.
Launching in April 2021, Mazo Capital Solutions is a relatively young company in equipment finance but continues to grow its operations, according to the company’s Facebook page. 2023 marked the first year the company completed transactions in all 50 states.
As chief risk officer, Fisher’s responsibilities include managing risk and improving innovation and efficiency as the company prepares to enter its fourth year, according to LinkedIn.
RJ Grimshaw, chief revenue officer, Orion First
RJ Grimshaw brings his more than 25 years of experience to Orion First as the Seattle-based commercial loan and lease firm revamped its C-suite with Grimshaw as the chief revenue officer and the promotion of Paul Marcoe to chief operating officer from chief technology officer.
After serving as chief executive officer of UniFi Equipment Finance for more than a decade, RJ Grimshaw started his own consultancy firm in Able Leadership before also assuming the role of chief revenue officer at Orion First.
During Grimshaw’s time leading UniFi, the company’s assets increased to $250 million from $14 million, and he will look to bring the same level of success to Orion First. Given his experience and success in previous roles, Orion First enters 2025 with another strong executive on their leadership team.
Navin Kumar, chief financial officer, Ford Pro
With Ford Pro targeting $70 billion in revenue for the year, the next several months are critical. Ford Pro is the commercial vehicle division of vehicle manufacturer Ford.
As Ford Pro continues to be a tentpole of the parent company’s, earnings and operations, its leadership continues to drive the commercial vehicle division’s success. With CEO Ted Cannis announcing his retirement effective on Sept. 12, Navin Kumar’s importance to Ford Pro increased.
Navin Kumar’s been with Ford Pro since July 2021, but began his career at Ford in Jan. 2016, having previously served as director of corporate strategy and business development and director of AV business, according to LinkedIn. Prior to joining Ford, Kumar served as vice president at investment and advisory firm Guggenheim Partners, where he specialized in automotive M&A.
He will be bridging the gap between the Cannis era and the new era. Kumar plays a forward role in Ford Pro’s operations, as he represents the company at conferences, including the Goldman Sachs Communacopia and Technology Conference on Sept. 10.
J.C. Mas, founder and chairman of Synergy Equipment and owner of Dynamic Equipment Group
Equipment rental company Synergy Equipment has 26 locations and more than 7,500 rental units across four states with J.C. Mas serving as founder and chairman since 2013, according to the company’s website. Meanwhile, Dynamic Equipment Group, which primarily sells Bobcat equipment, includes nine locations in Alabama and Florida, with Mas serving as owner since 2012.
The top 100 equipment rental companies in North American achieved a record $41 billion in combined revenue in 2023. Meanwhile, larger equipment rental companies like Sunbelt Rentals are projecting more North American growth in 2025.
J.C. Mas began his career in the equipment industry 35 years ago as President of MasTec and co-founder of Neff Rental in 1989, according to LinkedIn. Mas already built a successful equipment rental house in Neff Rentals, which was acquired by United Rentals for $1.3 billion in 2017, according to previous Equipment Finance News reporting. At the time, Neff was ranked no. 10 on the RER 100 with 69 locations across 14 states.
This sets J.C. Mas up for another strong year as he builds a second equipment juggernaut with Synergy Equipment and Dynamic Equipment Group in the Southeast. Tampa-based Synergy Equipment merged with Austin, Texas-based Opifex Enterprises to form the ninth largest equipment rental company in the United States, according to the Rental Equipment Register 100.
Adam Pigeon, COO, Royal Truck and Utility Trailer
While the transportation equipment industry has faced a tight lending environment, poor freight rates and supply chain issues over the past several years, all three areas appear set for improvement in 2025. For truck and trailer dealers, the improvements in the overall market could represent improved sales.
Adam Pigeon, entering his 10th year as COO and finishing his 15th year at Royal Truck and Utility Trailer, has the experience to help Royal navigate the post-pandemic landscape. Pigeon’s spent his entire career with Royal beginning in April 2009 after graduating from Ypsilanti, Mich-based Eastern Michigan University.
Adam Pigeon and Royal plan to build up the success of the last few years in a more favorable transportation equipment environment. Pigeon already contributed to Royal winning the National Trailer Dealers Association‘s first Trailblazer award in 2023.
Corinna Holt Richter, President and chief administrative officer, Holt Cat
Despite a 121-year-old legacy as an equipment dealer, San Antonio-based Holt Cat still experiments with new business ventures. Over the past few years, Holt Cat entered the EV, solar and venture capital markets.
In addition to Holt Cat’s history as one of the oldest equipment dealers in the country, the Caterpillar equipment dealer can benefit from the increased infrastructure spending in Texas. The state has received $35 billion in infrastructure funding since the start of the Biden Administration, as of Sept. 3, according to the White House.
Corrina Holt Richter is a fifth-generation equipment dealer who leads Holt Cat’s administrative and service departments. Holt works alongside her sibling, General Manager and CEO Peter Holt. She joined the family business as a leadership trainee in Feb. 2011 and has risen through the ranks to her current role.
As Holt Cat continues to innovate as a dealership group, Corinna Holt Richter’s role leading the administrative and support sectors is key. She is responsible for continuous improvement, facilities management, human resources, IT, legal, marketing, organizational development. safety and environmental and strategy, according to the company’s website.
Tawnya Stone, vice president for strategic technology, GreatAmerica Financial Services
With the rise of technology in the equipment finance industry, executives dedicated to that side of the industry are critical to successful operations.
Equipment financier GreatAmerica Financial Services’ managed portfolio in 2023 was $2.9 billion while new business volume was $1.5 billion, according to the 2024 Monitor 100. The company’s growth is due in part to its technology suite that helps create a satisfactory customer experience.
Tawnya Stone goes a step further at GreatAmerica Financial Services, where her responsibilities include managing the overall strategy and oversight and implementation of customer-facing technologies, according to GreatAmerica’s website.
Tawnya Stone started with GreatAmerica Financial Services in March 2011 as an IT project manager, according to LinkedIn. Prior to joining GreatAmerica, Stone held several roles in the construction and project management industries.
Stone also is on the operations and technology committee for the Equipment Leasing and Finance Association.
James Taylor, CEO, Bollinger Motors
Bollinger Motors, a subsidiary of Mullen Automotive, is one of the fastest growing commercial EV makers in the market.
Bollinger celebrated its first customer-ready production electric trucks on Sept. 20. Going into 2025, James Taylor will play a key role in the mid-size commercial vehicle space.
The long-time automotive and commercial vehicle industry executive helms Bollinger at an important time for both the company and the industry as the demand for zero-emission and electric vehicles continues to rise.
James Taylor took over as Bollinger’s chief executive in July 2024, following several stints as an executive at other vehicle manufacturers, including Electric Last Mile Solutions, Karma Automotive, Axios, and General Motors, according to LinkedIn. Taylor began serving as a vehicle line executive for Cadilac in June 1995, which will making June 2025 his 30-year anniversary in the industry.
All that experience should help Bollinger take the next step from EV startup to key player in the marketplace.
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