Grenke, DLL, & EU Equipment Leasing Market
Former CEO of DLL Group
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Grenke, DLL, & EU Equipment Leasing Market(December 7, 2022)
Former CEO of DLL Group
The executive has over 35 years experience in the equipment leasing business and is the Former CEO of DLL Group, a competitor to Grenke.
Interview Transcript
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How much of the business is working with the dealers, selling to the business customers, as opposed to the manufacturers?
As I said, in the US, it was extraordinary, and that’s why I also wanted to buy that company. It was part of Tokai Financial services; we purchased the company in 1998 during the Japanese enterprise crisis when Japanese companies fled back to the banks. They had their copier business, and we also did it in the Netherlands and Europe. We now have local dealers in the Western European companies, also for forklift trucks and tractors. But what we did in the US – and after I was fired, it didn’t go through, which I think was a stupid idea – was if you work with an OEM, and the vendor, or the OEM, is going through an indirect channel, you owe the dealer. If you were smart, you should not only have a dealer lease program but also do floor planning. Especially with iron equipment, you have a floorplan. With copiers, it’s scheduled payments at 30, 60, or 90 days.
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