player in the UK leasing industry, but it claims to have the
resources available to stay afloat in the current financial turmoil
– largely because of its “cautious and opportunistic” approach to
the market. It is also, of course, not bank owned.
The company, which has been operating from offices in London for
five years, but which has been doing business in the US and abroad
since the 1980s, manages a number of funds, pooling the capital
contributed by investors and making investments in
business-essential equipment and corporate infrastructure.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Its typical transaction structures are focused around sale
leasebacks and operating leases, but it also provides secured
loans, capital leases, residual value and structured finance
solutions.
Peter Finlay, who was formerly a director at the leasing arm of
Landsbanki, and Gareth Partridge, who manage operations in the
London office of the fifth-largest independent leasing and
financing company in the US, said, largely, the business has not
been affected by the financial turmoil and that, with $2 billion
(€1.6 billion) in assets, it has actually grown on a year-on-year
basis.
However, Finlay added: “We are seeing a continuing improvement,
in margins and credit quality, which is reflective not only of the
current economic pressures, but also of Icon’s funding position and
approach to the market.”
Deals to date have been in the telecommunications,
transportation, manufacturing, and mining sectors.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataIcon is currently interested in big single-asset deals and
multiple-asset deals. It does not finance property and intangible
assets.
The company’s future strategy includes expansion throughout
Europe, where several transactions have already been secured.
In fact, although Icon’s global clients have been US-originated
including Teekay, the oil tanker operator, with a $168 million sale
and leaseback of four Aframax tankers, and Global Crossing, the US
telecommunication company, with lease facilities for
telecommunications equipment of $89 million – Partridge and Finlay
said that the EU represents a very appealing market for the
company.
Almost a quarter of the company’s portfolio has been focused on
mainland Europe, while around 6.5 percent has been sourced from the
UK.
Antonio Fabrizio
