- 1NMEF originated $1.8B in 2025, including $566M in syndicated volume.
- 2Assets under management doubled to $2.4B.
- 3Growth came from the Pawnee Leasing deal, the Midland portfolio and an Oaktree JV.
North Mill Equipment Finance LLC (NMEF), a Norwalk, Connecticut-based independent equipment lender and lessor, reported record originations of $1.8 billion for 2025, including $566 million in syndicated volume. Assets under management doubled to $2.4 billion.
What drove the year
NMEF attributes the result to a set of targeted moves:
- Buying Pawnee Leasing.
- Taking over the Midland Equipment Finance portfolio.
- Forming a joint venture with Oaktree Capital Management to originate and syndicate fair market value (FMV) leases.
Executive commentary
Chairman and CEO David Lee said the company diversified origination sources, built out its FMV and syndication capabilities and integrated the acquisitions while keeping underwriting disciplined, and that it completed deals with speed, structural creativity and certainty of close.
President and Chief Revenue Officer Mark Bonanno said syndication was a significant contributor, with about $566 million placed across multiple initiatives. He said the approach pairs origination expertise with risk distribution so NMEF can support larger transactions.
Chief Operating Officer Tom Lyle described 2025 operationally as a year of execution: integrating acquisitions, optimizing portfolios and scaling infrastructure.
Looking ahead
NMEF said it will keep its focus on disciplined growth, portfolio quality and investment in scalable platforms.
2025 demonstrated the durability and scalability of our platform.
About the lender
NMEF works with third-party referral sources to finance small to mid-ticket equipment leases and loans from $15,000 to $3 million, and up to $5 million for investment-grade opportunities, across A to C credit. It is majority owned by an affiliate of InterVest Capital Partners. Its controlled affiliate BriteCap Financial, based in Las Vegas, has offered working capital loans to small businesses since 2003. See nmef.com and britecap.com.
Source reporting: deBanked.
