Global equipment financier DLL has signed a deal with equipment manufacturer Sany America, as the lender continues to expand its financing partnerships.
DLL, a subsidiary of Netherlands-based Rabobank Group, became one of the preferred financing partners of Sany America, the United States subsidiary of Chinese OEM Sany Heavy Industries, according to a DLL press release. The move comes as DLL looks to continue to scale its construction, transportation and industrial (CTI) global business unit, John Sparta, head of global program management, told Equipment Finance News.
“The DLL CTI global business unit is pretty scalable from a size perspective, so we’re very active in the marketplace and we’re specifically focused on our segmentation and specialization,” he said. “Many of our partners are also dealers. Those dealers often are independent dealers with multiple product lines, and it gives us a good introduction into new markets, new manufacturers and new partners through our contacts and reputation.”
DLL previously entered financing partnerships with electric tractor manufacturer Solectrac in November 2022, electric vehicle manufacturer Waev in December 2022, and electric truck manufacturer Volta Trucks in April 2023. Volta Truck declared bankruptcy on Oct. 27, 2023, according to a Volta Trucks press release.
The partnership with Sany America continues the lender’s growth objectives, Sparta said.
“Our business unit is expected to grow year after year, and we’re going to do that with partnerships that we believe are also going to grow and in segments that we want to drive,” he said. “Both in the retail financing side [and wholesale] inventory finance, both of those sectors have been growing very strongly for us over the last several years, and we’re expecting more growth here in 2024.”
The DLL CTI global business unit manages more than 12 billion euros ($13 billion) in total assets, Sparta said.
DLL joins Falcon National Bank, First Business Bank, Leaf Commercial Capital and QuickFi as a Sany America authorized lender partner, according to Sany America’s website. Sany is the fifth largest construction equipment manufacturer by sales, according to European construction media group KHL’s annual Yellow Table, which tracks annual sales volume.
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