The commercial-industrial team of Hilco Global, a financial services company, has acquired all of the assets of Sutton Leasing, a fleet leasing company based in Sterling Heights, Mich., in a multi-million-dollar transaction. The deal closed May 7, 2021.
The Hilco Commercial Industrial team plans to operate the company, managing the fleet lease portfolio which consists of more than 7,000 cars, trucks, and other transportation equipment. The new company will be called H19 Sutton Leasing and will be added to the H19 group of companies which includes the Indianapolis-based H19 Capital, which Hilco acquired in 2020 and specializes in truck leasing.
Hilco aims to ensure that H19 Sutton Leasing remains as a top fleet management company in the United States, having additional offices in Northbrook, Ill., and Vandalia, Ohio, while maintaining the headquarter operation in Michigan. Huron Consulting Services served as Financial Advisor and its registered broker dealer affiliate served as Investment Banker in the matter.
The transaction was structured using a combination of debt and equity.
Hilco expects H19 Sutton Leasing customers to experience a smooth transition as the new company plans to retain most of the staff at this time.
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