Merlo America LLC and First Citizens Bank Announce Comprehensive New Vendor Finance Agreement

Rhea-AI Summary

First Citizens Bank (NASDAQ:FCNCA) and Merlo America LLC have announced a new vendor finance agreement to provide leasing and lending solutions for Merlo's construction and agricultural equipment customers. Merlo America, the North American subsidiary of Italy-based Merlo S.p.A, is known for producing telehandlers and machinery for agricultural, tree care, industrial, and construction applications.

Through this partnership, First Citizens Bank Equipment Finance will offer financing options to help Merlo customers acquire equipment for their business operations. The agreement leverages First Citizens Bank's Equipment Finance group's capabilities, including their sales coverage model, technology platforms, and structuring expertise.

Positive

• Strategic partnership expands First Citizens Bank's equipment financing portfolio
• Access to new customer base in construction and agricultural sectors
• Diversification of revenue streams through equipment financing

Negative

• None.

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JACKSONVILLE, Fla., June 25, 2025 /PRNewswire/ -- Merlo America LLC and First Citizens Bank Equipment Finance today announced a new vendor finance agreement that will provide Merlo customers with leasing and lending solutions to secure new construction and agricultural equipment.

Headquartered in Rock Hill, South Carolina, Merlo America is the North American subsidiary of Italy-based Merlo S.p.A, a family-run industrial group that designs, produces and markets its own products under the "Merlo" and "TreEmme" brands.

The parent company is a leading producer of multi-use telehandler and other machinery for agricultural, tree care, industrial and construction applications.

"Our telehandlers and other equipment deliver enormous value to customers who prize quality, reliability and performance from their equipment," said Cole Renken, General Manager of Merlo America.

"Our company is pleased to collaborate with First Citizens Bank Equipment Finance to provide our clients with outstanding financing options that will empower them to acquire the equipment needed to operate and grow their businesses," he continued.

"Merlo America is widely recognized throughout the industry for its accomplishments in supplying top-quality telehandlers and other construction and agricultural equipment," said Harold Ray, who leads the construction group at First Citizens Bank Equipment Finance. "We look forward to a long and successful relationship with Merlo and its clients in providing financing options that best meet their business objectives."

First Citizens Bank's Equipment Finance group empowers original equipment manufacturers, vendors and small and mid-size businesses by providing equipment financing solutions via a distinctive inside/outside sales coverage model, seasoned supporting staff, technology-enabled platforms and market-leading structuring expertise.

About Merlo America
Merlo America represents Merlo Group, a global leader in telehandler technology and design. Headquartered in South Carolina, Merlo America delivers innovative solutions in material handling, forestry, construction and agriculture, designed and manufactured in Italy. With a product line focused on versatility, innovation and operator-efficiency, Merlo products, attachments and technologies are used in industries ranging from agriculture and construction to forestry and rental. Backed by a robust dealer network and dedicated support team, Merlo America is committed to helping U.S. end-users do more with confidence. See Where You Can Go with Merlo at MerloAmerica.com 

About First Citizens Bank
First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of branches and offices nationwide; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank. Parent company First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $200 billion in assets and a member of the Fortune 500™. Discover more at firstcitizens.com.

MEDIA RELATIONS:
John M. Moran
212-461-5507
john.moran2@firstcitizens.com

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SOURCE First Citizens Bank

FAQ

What is the new agreement between First Citizens Bank (FCNCA) and Merlo America?

First Citizens Bank and Merlo America have established a vendor finance agreement to provide leasing and lending solutions for customers purchasing Merlo's construction and agricultural equipment.

What types of equipment will First Citizens Bank (FCNCA) finance under the Merlo agreement?

The financing will cover Merlo's telehandlers and other machinery used in agricultural, tree care, industrial, and construction applications.

Who leads the construction group at First Citizens Bank Equipment Finance?

Harold Ray leads the construction group at First Citizens Bank Equipment Finance.

What services does First Citizens Bank's Equipment Finance group provide?

The group provides equipment financing solutions through an inside/outside sales coverage model, seasoned supporting staff, technology-enabled platforms, and market-leading structuring expertise.

Where is Merlo America LLC headquartered?

Merlo America LLC is headquartered in Rock Hill, South Carolina.