North Mill Equipment Finance raises $30M through corporate notes

North Mill Equipment Finance raised $30 million in investment-grade corporate notes through Brean Capital to support portfolio growth and originations.

The Norwalk, Conn.–based independent equipment lender’s upsized capital strengthens its capital stack and expands its operating flexibility as demand continues across small- and mid-ticket financing, according to today’s North Mill Equipment Finance (NMEF) release. The transaction reflects strong backing from existing investors and confidence from new investors, while the rating underscores the company’s balance-sheet strength.

NMEF, majority-owned by an affiliate of InterVest Capital Partners, finances commercial leases and loans from $15,000 to $3 million — and up to $5 million for investment-grade deals — across medical, construction, franchise, technology, vocational, manufacturing and other equipment categories, according to the release. Brean Capital served as the exclusive financial adviser and sole placement agent for NMEF’s deal.

The company operates nationally through third-party referral sources with headquarters in Norwalk and regional offices in California, Colorado, New Jersey and Utah. Its affiliate, BriteCap Financial, provides working-capital financing for small businesses from its Las Vegas office.

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