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Tokyo Century Announces Acquisition of Allegiant Partners Incorporated

November 26, 2019 by Nick Fong


Tokyo Century (USA) Inc. is pleased to announce that it has acquired 100% of the capital stock of Allegiant Partners Incorporated DBA AP Equipment Financing, an independent specialty finance and leasing company based in Bend, Oregon.

Allegiant has a strong presence in the western U.S. with a market focus on light and medium-duty trucks, tree and arbor equipment, and other niche industries. Founded in 1998, Allegiant’s team has in-depth knowledge of the industries it serves and the special-purpose vehicles and equipment used by its customers. Combining an effective marketing platform with an extensive customer database, a digital platform, and industry expertise, Allegiant provides quick-turn, high value-added financial services to its 3,000+ customers across the United States.

Tokyo Century, based in Purchase, NY, has core strengths in small and medium-ticket lending for vocational vehicles and material handling equipment. Tokyo Century and Allegiant have been working collaboratively since 2002.

“I am very excited about our partnership with Tokyo Century.  I did my first transaction with them in the early 1990s, and have always admired their culture and work ethic.  Allegiant will be able to leverage the resources of a much larger company, and Tokyo Century will gain a high-technology, small-ticket platform in the United States that complements its businesses,” stated Chris Enbom, founder and CEO of Allegiant.  “Allegiant will continue to operate independently as a separate subsidiary of Tokyo Century, keeping the same high level of service to its customers.”

One of the many opportunities foreseen by management of the combined companies is “last-mile” package delivery in the U.S., a sector whose growth is expected to continue in line with the expanding E-commerce market. The formalized alliance announced today will drive expansion of these companies in this and other segments. Tokyo Century’s relationships with Japanese manufacturers will seed growth of vendor-finance opportunities across the expanded organization, and Allegiant’s expertise in the area of service standards and marketing/sales capabilities will be key to enabling and enhancing growth. Together, Tokyo Century/Allegiant will focus on continued enhancement of U.S. operations, doing so with a focus on growing their unique market presences by leveraging the respective strengths and business know-how of each organization.

Tiger Ogawa, President of Tokyo Century expressed delight with the combination. “Both culturally and synergistically, this combination is a home run. Chris Enbom and I have done business together for many years. We know the passion that his team brings to the office day in and day out. I could not be more pleased with this acquisition and the prospect of working together with the Allegiant team on a daily basis. Our headquarters in Tokyo is equally pleased with this development, and we look forward to making the most of this fantastic growth opportunity.”

Hovde Group served as exclusive financial advisor and Karnopp Peterson and Holland & Knight as legal counsels to Allegiant on this transaction. Cosgrave Vergeer Kester served as legal counsel to Tokyo Century.

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I am so grateful for the opportunity for someone to trust in me to expand my business. They kept in complete contact with us from the start to the end, even when they were on a business vacation. At a point when we had to change vendors and purchase a different truck due to circumstances with the previous vendor, no one ever made us feel like it was a bother to reconfigure the paperwork and financing terms. It was a great experience and I would recommend others to do business with this company.

- William - Arborist, SC

My overall experience was great. I believe the funding is going to help us have the equipment we need to operate at a level that will help us grow. The team was great to work with.

- Ryan - Cinematographer, NE

​The first time I used AP was through a bucket truck dealer in Clinton Illinois about five years ago. I made the long trip over there and arrived late in the day. The team worked till eight o'clock at night to get things finalized and to get me on the road with my new bucket truck. They earned my business right there and have used your services numbers times since​.
- Matt - Arborist, IN

The reason why I come back and do business again is because of the fantastic AP team. In my business time is money and it’s nice to have someone do what they say there going to do and work quickly. Thanks!
- Keith - Trucking Company, CA

I give props to Todd Mickey and team!! Great guys to do work with. I'm located in upstate NY. I can get financed faster from AP EQUIPMENT FINANCING using Todd and team in California faster and more efficient than right here in my home town. This is out second loan being held with AP Financing and next year will be our third. Thanks Todd!!
- Walter - Arborist, NY

There were absolutely no issues at all! From Austin to Aubri and then Amanda, these folks are the ones that make the company what it is! They're all super professional, courteous, well-mannered and most of all... friendly as it gets! When I work with these professionals, I know my company can count on them to get all my equipment financed on time and on budget! THANK YOU for being a major part of my company's back bone!
- Tim - Parcel Delivery Contractor, CA

Great customer service and great people!! They really focus on helping you find the best equipment for your business. I've been working with this company for the past 6 years have purchased 8 trucks. Mike Helder and his co-workers have been excellent with prompt service for getting my vehicles financed with good follow up after purchase. Thank you guys.
- Tae - Parcel Delivery Contractor, WA

Working with Fred Williams to secure my company's new truck was a "no-hassle" experience. He was able to answer all my questions and provided timely customer service. I would not hesitate to recommend him, and AP Equipment Financing, to others in my service industry.
- Peter - Parcel Delivery Contractor, ME

Friendly staff always trying to make things go as smoothly as possible. Benefiting our company by supplying financing for equipment necessary to keep us on the road.
- Phil - Parcel Delivery Contractor, WA

The Chevys are working out well! Very good trucks, and they have helped out a lot. It was a pleasure doing business with you guys. Everything went very smooth and everyone I dealt with were very professional, kind, and knowledgeable. Definitely will use you again for any future purchases. Thank you so much for helping me grow my business.
- Christopher - Parcel Delivery Contractor, WY

Hey Jordan! I just want to tell you thank you for all of your help with getting me a new van! Pick-up last Friday went very smooth. The van will be a great addition to my fleet. If I ever need another vehicle you'll definitely be the guy I call! Thanks again for everything!
- Randy - Parcel Delivery Contractor, MN

You've been great to work with and I would without a doubt recommend you guys. You have been the easiest lender to work with and I am very grateful.
- Kelly - Parcel Delivery Contractor, TN

What was most noteworthy to me was that your company took the time to offer information that directly affects our lives as contractors. Moreover, the knowledge we’ve gained from your efforts has placed us in a position to more readily and effectively negotiate for the long-term viability of our company.
- Parcel Delivery Contractor, LA

We were having a hard time finding funding to purchase a truck through our bank. We learned about Allegiant and got approved in a couple days. It was smooth sailing from there! The honest, diligent, hardworking staff made the process a breeze!
- Arborist, CO

In business, you have to acknowledge what your time is worth. I’ve had offers from other financers who will beat Allegiant rates but I know I can count on Allegiant to provide great, timely service every time and for that I will continue to work with them and recommend them to other businesses for the same reason.
- Greg – Arborist, WA

I have been a FedEx Ground contractor for 14 years, operating out of Massachusetts. I just picked up my second Hino and could not be happier with them. I only wish I knew 14 years ago what I know now. Can I give a shout out for the team and all the people involved that made this purchase even more special? Austin, and the ladies at AP Equipment Financing. Thanks Again!
- John – Parcel Delivery Contractor, MA

I started using Allegiant for the relationship I have/had with Dave. This business is about building relationships and, when you find someone you work well with, you make sure to keep that relationship healthy. It’s just good business.
- Greg - Arborist, WA

I came to Allegiant with a time sensitive equipment purchase. A vendor was offering me a $5,000 discount on a soft content wash system if I purchased by the end of the month. There was only one business day left in the month, but due to the hard work from Dave, Janice, Sylvia, and Briana, Allegiant was able to get my equipment funded the next day!
- Greg – Cleaning and Restoration Contractor

Thank you so much for all your help on sourcing and financing my newest truck. It showed up today and it’s absolutely gorgeous and my drivers can’t wait to use it. I know I’m not the easiest person to get in touch with, especially when I’m driving, but thank you very much.
- Brian – Parcel Delivery Contractor

Using AP Equipment Financing has been such an easy and pleasurable experience, a year later I know there was no one else to call. The team helped me acquire the equipment needed at the price that was right. The equipment arrived ahead of schedule and as requested!
- Peter, Parcel Delivery Contractor - NY

It's great to have a lending partner who understands the rental business. A large bank won't understand the up and downs of cash flow for a rental yard like mine.
- Ian - Owner of Rental Company, CT

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