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Buying Group’s 239 Members To Benefit From New Equipment Leasing Partnership
SUPERIOR, CO – February 20, 2008 – Key Equipment Finance, the nation’s third-largest bank-held equipment leasing company and an affiliate of KeyCorp (NYSE: KEY) today announced that it has been selected as an equipment finance partner by International Business Products, Inc. (IBPI). IBPI is the largest buying group in the commercial copier industry.
The relationship with Key Equipment Finance enables IBPI’s 239 members, who are all independent copier dealers, to provide flexible financing to end-user customers interested in acquiring Canon, Minolta, Ricoh, Panasonic, Konica, Sharp, Kyocera, and Toshiba copiers, digital duplicators, printers and other business machines. This lease finance program will allow IBPI dealers to offer customers one-stop-shopping and financing, tax benefits, and the ability to obtain commercial copiers and related equipment and services while conserving cash.
“IBPI was built on the philosophy of providing customers with top-of-the-line products at the best possible prices, and this equipment leasing program is just another example of IBPI bringing additional value to customers,” said Adam Warner, president of Key Equipment Finance. “We anticipate that IBPI dealers will experience even greater customer satisfaction as a result of the flexible financing available through this partnership.”
IBPI noted Key Equipment Finance’s long-standing commitment to the independent dealer community and the company’s customer-centric business philosophy as primary reasons for selecting Key Equipment Finance as a leasing partner.
“Key Equipment Finance is known for its commitment to independent copier dealers,” said Randy Horshok, president of IBPI. “What really sets them apart from the rest is that they are true partners to each of our 239 members, and we look forward to working with them to bring flexible financing to our customers nationwide.” About International Business Products, Inc.
IBPI is the largest buying group in the office equipment and solutions industry. IBPI negotiates volume purchase agreements on behalf of over 230 independently owned member dealers, and provides a variety of programs and services that enhance their members’ value with their customers. IBPI vendors provide solutions for a myriad of business and copier related needs. IBPI is a membership owned corporation, founded in 1987.
About Key Equipment Finance
Key Equipment Finance is an affiliate of KeyCorp (NYSE: KEY) and provides business-to-business equipment financing solutions to businesses of many types and sizes. They focus on four distinct markets:
- businesses of all sizes in the U.S. and Canada (from small business to large corporate);
- equipment manufacturers, distributors and value-added resellers worldwide;
- federal, provincial, state and local governments as well as other public sector organizations; and
- lease advisory services for manufacturers’ captive leasing and finance companies.
Headquartered outside Boulder, Colorado, Key Equipment Finance manages a $14.9 billion equipment portfolio with annual originations of approximately $6.3 billion. The company has major management and operations bases in Chicago, Illinois; Albany, New York; Toronto, Ontario; London, England; and Sydney, Australia. The company, which operates in 26 countries and employs 1,000 people worldwide, has been in the equipment financing business for more than 30 years. Additional information regarding Key Equipment Finance, its products and services can be obtained online at www.kefonline.com.
Cleveland-based KeyCorp is one of the nation's largest bank-based financial services companies, with assets of approximately $100 billion. Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally.
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