FPC has restructured and rebranded as Financial Partners Group (FPG). Founder Jeff LaLima will remain as CEO and president. Josh Mabee, who formerly served as a vice president at Ascentium Capital, will step in as COO. Rob Noble has been promoted to executive vice president from SVP of Business Development.
Joining Mabee from his previous Ascentium team are Vice Presidents of Sales Brandon Hodge and Darryl Seskind, along with Operations Manager Melissa Scheu. In just under five years Mabee and his team were responsible for generating more than $600 million in volume.
“We are really excited to join forces with Financial Partners, a proven industry leader and with our combined talent, bringing FPG to the next level,” said Mabee.
In addition to the rebrand and expansion, FPG has added a hard asset division led by industry Veteran George Atkins undertaking the development of this vertical market. A new office has opened in Dover, NH to support the expansion with plans to enhance both sales and operational support, along with the recently added corporate office in Red Bank, NJ.
“We are incredibly pleased to complete the restructure under our new FPG brand and unite with Josh and his seasoned sales team. The expansion positions us as the highest volume originator in our niche vertical and brings the opportunity to expand into additional markets,” said LaLima.
Under the new structure, FPG is expected to originate $300 million of volume in its first year.
“We’ve always been a vendor driven finance company,” Noble said. “Our $300 million origination number and portfolio diversification allow us to expand in our funding relationships and capabilities, ultimately giving our vendor partners an even more attractive service offering, having already released several new programs in our first few weeks.”
Established in 2004, Financial Partners GROUP is an equipment finance company that delivers financial solutions for small-to-medium sized businesses and equipment manufacturers and distributors. Since its founding, FPG has provided more than $1.25 billion in equipment and vendor financing. The company is headquartered in Red Bank, NJ and operates offices in South Carolina, California, Connecticut and New Hampshire.
This article has been provided by Monitor Daily.