Tacoma, Washington-based commercial coffee equipment leasing company Specialty Coffee Finance has been acquired by Southern California-based Alliance Funding Group (AFG), which has provided equipment financing and capital services for a wide range of industries since 1998.
After originally launching in Denver under the name 5280 Financial, Specialty Coffee Finance has been part of the Pinnacle Capital Partners group in Tacoma since 2011, providing numerous financing plans for commercial and industrial coffee equipment such as coffee roasters.
The terms of AFG’s acquisition of Pinnacle have not been made public, although the companies say the combined company under the AFG name will generate $200 million in loan origination in its first year.
“Pinnacle will be able to leverage the resources of a larger company while bringing to AFG a tenured management team and a developed sales platform in the northwest,” Pinnacle and SCF CEO Brent Hall said in an announcement of the acquisition. “Pinnacle will become a part of Alliance Funding Group and will operate under the AFG brand while still utilizing certain of its private label brands in core markets.”
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