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Company named second-largest bank-held equipment finance company based on new business volume
SUPERIOR, Colo. – September 8, 2008 – Key Equipment Finance, one of the nation’s largest bank-held equipment finance companies and an affiliate of KeyCorp (NYSE:KEY), today announces it has again moved up in the annual industry rankings to be named the second-largest bank-held equipment finance company in the United States based on new business volume, up from a third-place ranking the previous year.
"I'm pleased to see that Key Equipment Finance continues to outperform the competition, in this case improving our industry ranking in terms of new business volume for the bank-held sector even in one of the most challenging economic climates," said Paul A. Larkins, chief executive officer of Key Equipment Finance. "This improvement is a credit to the hard work and dedication of our employees."
Key Equipment Finance reported net assets of $14.9 billion in 2007. The company typically does more than $6 billion in new business volume each year.
In 2007, Key Equipment Finance expanded its Colorado presence by taking over an additional 4,000 square feet of office space in the building that houses its headquarters in Superior to help accommodate the company’s growth. It also opened a 30,000-square-foot operations center for its Colorado-based client services and collections teams in Westminster on Circle Point Road.
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; Hong Kong, China 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 http://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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