Three Mitsubishi HC Capital Group Companies in the United States and Canada will join together to enhance the sustainable, competitive advantage in the financial services sector.
Mitsubishi HC Capital Inc. has announced that it will integrate three group companies in the United States: Mitsubishi HC Capital America, Inc., Mitsubishi HC Capital (U.S.A.) Inc., and ENGS Commercial Finance Co. on April 1, 2023.
Mitsubishi HC Capital America will be the surviving legal entity and will retain its existing name. In addition, Mitsubishi HC Capital Canada, Inc. will remain a subsidiary of Mitsubishi HC Capital America.
Craig S. Weinewuth, currently President & CEO of ENGS Commercial Finance, will be named President & CEO of the newly integrated entity. Weinewuth is a commercial finance and leasing industry veteran who has held a wide range of executive positions at Fortune 500 and private equity backed equipment finance businesses.
Under his leadership, ENGS Commercial Finance achieved substantial year-over-year growth and strategically positioned itself as a pioneer in the fintech sector by producing industry-leading digital solutions that offer improved and streamlined customer experiences and greater back-end efficiencies.
By combining the resources and expertise of these existing businesses, Mitsubishi HC Capital America intends to enhance its competitiveness, improve efficiency, expand business scale, and create greater customer value.
This integration is a key component of Mitsubishi HC Capital’s restructuring plan to create group synergies. In July 2022, two group companies in Hong Kong merged, and in August, the mobility business group companies in Europe became managed under Mitsubishi HC Capital UK PLC.
It is the mission of Mitsubishi HC Capital and the group companies to “contribute to a prosperous and sustainable future by creating social value through maximizing the potential of assets.”
By combining the three companies under the name Mitsubishi HC Capital America, as well as their financing and leasing capabilities and tangible and intangible assets, Mitsubishi HC Capital America aims to optimize sales and management synergies. In addition, Mitsubishi HC Capital America will create new businesses to address sustainability and support the growth of its customers.