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About Us
Connell Equipment Leasing Company (CELCO) has been providing single investor lease financing for forklift trucks and other material handling equipment to high quality domestic and international companies since 1982. Lease terms average only about five years making CELCO an excellent short term operating business to complement The Connell Company’s longer term holdings in real estate and heavy equipment leasing. CELCO has tens of thousands of pieces of equipment on lease throughout the United States, Canada, Mexico, Jamaica, United Kingdom, Germany, France, Spain, Belgium, Iceland and Norway. CELCO is believed to be the largest independent financing source for material handling equipment and airport ground support equipment in the U.S. and has achieved annual equipment purchases in excess of $100 million.
Typical material handling equipment owned and leased by CELCO includes forklifts, cranes, wheel loaders, tractors, dozers, personnel carriers, aerial lifts, railcar movers, sweepers/scrubbers, and airline ground support equipment such as baggage tugs, belt loaders, container loaders, deicers, and jet tows.
CELCO offers the following advantages over other leasing companies:
Holds all transactions: CELCO has no debt and uses internal cash to fund all transactions. Since the company does not typically sell or leverage transactions, its customers benefit from continuity and maximum flexibility during the lease term and at lease expiration.
Not manufacturer’s affiliate: CELCO is not affiliated with any manufacturer, nor does it have any alliances with equipment vendors. This independence gives its customers the ability to finance all equipment nationwide with one leasing company, regardless of equipment make, model or dealer.
In-depth knowledge of equipment: CELCO has been in the material handling leasing business for over 30 years, and over that time has gained extensive equipment knowledge. CELCO’s remarketing staff, i.e., the people that will ultimately sell the used equipment, helps the company set accurate and realistic residual values to establish lease rates for new lease proposals so there are no surprises at lease expiration.