WALTHAM, Mass., March 04, 2022 (GLOBE NEWSWIRE) — Nice Elm Capital Corp. (“we,” “us,” “our,” or “GECC”) (NASDAQ: GECC), a enterprise improvement firm, in the present day introduced that it has launched Nice Elm Utica, LLC (“GEU”), a three way partnership between GECC and Utica Leaseco, LLC (“Utica”), to co-invest in proprietary tools financing transactions sourced by Utica.
Based in 2005, Utica gives custom-made tools mortgage and lease choices for companies of all sizes all through the continental U.S. With distinctive data of apparatus values and inventive structuring, Utica makes a speciality of serving to credit-challenged corporations unlock the fairness of their tools. Utica’s administration crew has over 100 years of mixed expertise in lending, monetary companies, and tools finance.
The transaction stays topic to the approval of Utica’s senior lender.
Administration Commentary
Michael Keller, President of Nice Elm Specialty Finance, said, “We’re happy to announce this three way partnership with Utica, which reinforces our skill to supply one-stop-shop financing alternate options for small and mid-sized companies. We stay up for working with the Utica crew to develop GEU as we proceed to increase GECC’s specialty finance platform.”
David Levy, Co-Founder and CEO of Utica and President of GEU, famous, “We’re excited to enter into this three way partnership with GECC and consider that this car will permit us to supply further merchandise to center market companies, and, with GECC’s entry to capital, execute on bigger tools financing transactions.”
About Utica Leaseco and Utica Gear Finance, LLC
Based in 2005, Utica is a number one supplier of lending, monetary companies, and tools finance.
About Nice Elm Capital Corp.
Nice Elm Capital Corp. is an externally managed enterprise improvement firm that seeks to generate present revenue and capital appreciation by investing in debt and revenue producing fairness securities, together with investments in specialty finance companies. Extra info may be discovered at www.greatelmcc.com.
Cautionary Assertion Concerning Ahead-Trying Statements
Statements on this communication that aren’t historic info are “forward-looking” statements inside the which means of the federal securities legal guidelines. These statements are sometimes, however not all the time, made by means of using phrases or phrases resembling “count on,” “anticipate,” “ought to,” “will,” “estimate,” “designed,” “search,” “proceed,” “upside,” “potential” and comparable expressions. All such forward-looking statements contain estimates and assumptions which might be topic to dangers, uncertainties and different elements that would trigger precise outcomes to vary materially from the outcomes expressed within the statements. Among the many key elements that would trigger precise outcomes to vary materially from these projected within the forward-looking statements are: circumstances within the credit score markets, the worth of GECC widespread inventory, the efficiency of GECC’s portfolio and funding supervisor and dangers related to the financial affect of the COVID-19 pandemic on GECC and its portfolio corporations. Info regarding these and different elements may be present in GECC’s Annual Report on Kind 10-Ok and different stories filed with the SEC. GECC assumes no obligation to, and expressly disclaims any responsibility to, replace any forward-looking statements contained on this communication or to evolve prior statements to precise outcomes or revised expectations besides as required by regulation. Readers are cautioned to not place undue reliance on these forward-looking statements that talk solely as of the date hereof.
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