Ascentium Capital, LLC

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Ascentium Capital, LLC
Limited liability company
ISIN🆔
IndustryFinancial services
Founded 📆August 4, 2011; 10 years ago (2011-08-04) in Kingwood, Texas, United States
Founder 👔Tom Depping
Headquarters 🏙️,
Kingwood, Texas
,
United States
Area served 🗺️
United States
Key people
Tom Depping (CEO)
Products 📟 
  • Equipment and technology financing and leasing
  • Small business loans
  • Working capital
ServicesFinancial services
💎 AUM
  • Increase US$ 1.9 billion (2017)[1]
  • US$ 1.2 billion (2016)[2]
Members
Number of employees
304 (2018)[3]
Divisions
  • Equipment Providers
  • SMBs
🌐 Websiteascentiumcapital.com
📇 Address
📞 telephone

Ascentium Capital LLC is a commercial lender based in Kingwood, Texas that provides equipment and technology financing and leasing, business loans, and working capital through direct lending and intermediary equipment providers.

History[edit]

Ascentium Capital was founded by Thomas (Tom) Depping on August 4, 2011, by purchasing the majority of assets and the operating platform from Main Street Bank.[4] The Company was initially backed by Vulcan Capital, the private investment group of Paul G. Allen, the co-founder of Microsoft and a group of investors led by LKCM Capital Group, LLC ("LKCM").[4]

In 2014, Ascentium Capital added a direct-to-end-user unit.[5]

In 2016, Ascentium Capital added a merchant finance division.[6]

In 2016, Warburg Pincus LLC acquired Ascentium Capital LLC.[7]

In 2017, Tom Depping comments on the industry outlook in 2018 with National Equipment Financing Association.[8]

As of December 06, 2018, Tom Depping remains as the chief executive officer.[9]

Awards and recognition[edit]

In 2014, Michigan Saves partnered with Ascentium Capital for its business lending program and stated an 85% increase in application approvals.[10]

In 2017, FICO conducted a case study on Ascentium Capital for its upgraded FICO version and found improvement in Ascentium’s small business lending efficiencies.[11]

In 2017, The Monitor ranked Ascentium Capital as the largest private-independent lender in the US by lease and loan origination volume, an increase from third rank in 2016.[12]

In 2017, LendIt reviewed the finance process and technology integration and awarded Ascentium Capital with the Best Business Lending Platform, a FinTech Breakthrough Award.[13]

In 2017, Houston Business Journal acknowledged Ascentium Capital as a Fast 100 Houston company based on growth.[14]

In 2018, Houston Business Journal conducted an interview with Ascentium Capital, and stated the company’s plan to hire employees after reaching $1 billion benchmark.[15]

In 2018, The Monitor ranked Ascentium Capital as the largest private-independent lender in the US by lease and loan origination volume for the second consecutive year.[16]

Assets under management, funding and securitization[edit]

In fiscal year 2017, Ascentium Capital exceeded $1 billion in annual funded volume[15][1] and released its eighth securitization.[17]

Ascentium Equipment Receivables 2017-1 Trust issued a senior-subordinated structure with “Aaa” ratings from Moody’s and Kroll.[18]

As of January 8, 2018, the company manages $1.9 billion in assets and has funded $3.7 billion since 2011.[1]

See also[edit]

References[edit]

  1. 1.0 1.1 1.2 "Ascentium Capital Exceeds $1 Billion in Funded Volume During Fiscal Year 2017". Ascentium Capital official website. Ascentium Capital. Retrieved 31 January 2018.
  2. "Ascentium Capital Reports 28% Growth in Funded Volume". Ascentium Capital official website. Ascentium Capital. Retrieved 21 May 2018.
  3. "Ascentium Capital - Official LinkedIn company page". LinkedIn. Ascentium Capital. Retrieved 21 May 2018.
  4. 4.0 4.1 Cook, John (2011-08-11). "Paul Allen's Vulcan Capital backs small business lender, but don't call it a bank". GeekWire. GeekWire. Retrieved 30 January 2018.
    Sidel, Robin. "Fed Up: A Texas Bank Is Calling It Quits". The Wall Street Journal. The Wall Street Journal. Retrieved January 30, 2018.
    "Banks' Regulatory Hell". Investor's Business Daily. Investor's Business Daily. Retrieved January 30, 2018.
  5. Neuffer, Phil. "Just Getting Started: Ascentium Capital's Private Equity Boost". Monitor. Monitor. Retrieved January 30, 2018.
  6. Garwood, Rita. "Rising Above Regulation: Ascentium Stands By Small Business". Monitor. Monitor. Retrieved 21 May 2018.
    "Ascentium Capital Launches Merchant Finance Division". Ascentium Capital official website. Ascentium Capital. Retrieved 21 May 2018.
  7. Neuffer, Phil. "Just Getting Started: Ascentium Capital's Private Equity Boost". Monitor. Monitor. Retrieved January 30, 2018.
    Sidel, Robin. "Texas Banker's Game Plan: Ditch Branches, Prosper". The Wall Start Journal. The Wall Start Journal. Retrieved January 30, 2018.
    John, Reosti. "Ex-Banker Claims Last Laugh with Deal to Sell Nonbank Lender". American Banker. American Banker. Retrieved January 30, 2018.
  8. "NEFA Newsline" (PDF). National Equipment Finance Association. NEFA. p. 19. Retrieved 6 December 2018.
  9. "Executive Management Team". Ascentium Capital official website. Ascentium Capital. Retrieved 6 December 2018.
  10. "Record growth in business energy financing program". Michigan Saves. Michigan Saves. Retrieved 9 February 2018.
  11. "Ascentium Makes Better Small Business Lending Decisions Thanks to Upgraded FICO Solution". FICO. FICO. Retrieved 12 February 2018.
  12. "Monitor Top Private Independents". Monitor. Monitor. Retrieved 31 January 2018.
  13. "Fintech Breakthrough Awards Recognize Top Platforms in Internet Finance". LendIt. LendIt. 2017-04-27. Retrieved 31 January 2018.
    "Meet the 2017 FinTech Breakthrough Award Winners". FinTech Breakthrough. FinTech Breakthrough. Retrieved 31 January 2018.
  14. "HBJ reveals top 10 fastest-growing companies, Enterprise Champions for 2017". Houston Business Journal. Houston Business Journal. Retrieved 31 January 2018.
  15. 15.0 15.1 Witthaus, Jack. "Kingwood financial services firm to hire after reaching $1B benchmark". Houston Business Journal. Houston Business Journal. Retrieved 31 January 2018.
  16. Garwood, Rita. "Top Five Private Independents: Each Creates a Unique Blueprint for Success". Monitor. Monitor. Retrieved 6 December 2018.
  17. "KBRA Assigns Preliminary Ratings to Ascentium Equipment Receivables". Monitor. Monitor. Retrieved 31 January 2018.
  18. "Rating Action: Moody's assigns definitive ratings to Ascentium Equipment Receivables 2017-1". Moody's. Moody's. Retrieved January 30, 2018.
    "Kroll Bond Rating Agency Assigns Final Ratings to Ascentium Equipment Receivables 2017-1 Trust". Kroll Bond Rating Agency. Kroll Bond Rating Agency. Retrieved 31 January 2018.
    "KBRA Assigns Preliminary Ratings to Ascentium Equipment Receivables". Monitor. Monitor. Retrieved 31 January 2018.

External links[edit]


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