TCF Inventory Finance, Inc. (TCFIF), a subsidiary of TCF National Bank and an indirect subsidiary of TCF Financial Corporation (TCF), and Ariens Company announced on June 3 a definitive agreement to provide inventory financing to more than 1,500 Ariens and Gravely dealers across the United States and Canada. TCFIF will be the exclusive financing provider for its portfolio of lawn and garden equipment.
“TCF has a proven track record in the outdoor power equipment industry, and we believe this new relationship will be mutually beneficial to Ariens Company, TCF and dealers,” said Mark Olsen, Ariens Company’s chief financial officer. “As our dealer network continues to grow sales of Ariens and Gravely products, we look for partners who can meet their changing needs and the needs of our customers.”
The Ariens Company portfolio of brands includes some of the oldest and most respected names in the outdoor power equipment industry. The multi-year strategic alliance with TCFIF will enable dealers to stock a wide selection of all Ariens and Gravely products, including snow blowers, riding mowers, walk-behind mowers, and commercial outdoor power equipment.
“We are pleased that Ariens has selected TCF Inventory Finance to be its exclusive finance provider for dealers of the Ariens Company in the United States and Canada,” said Ross Perrelli, president and chief executive officer of TCF Inventory Finance. “We are confident that TCF Inventory Finance will deliver a stable source of capital and outstanding customer service to Ariens’ dealers.”
Craig Dahl, TCF vice chairman and president, added, “Backed by the strength of our well-capitalized bank, TCF Inventory Finance continues to provide industry-leading financing solutions and best-in-class service for its customers. We’re pleased with the continued momentum of this business and its ability to partner with many of the world’s most respected brands.”