Michael Carbone, TD Bank's Regional President for Metro Philadelphia, commented, "TD Bank has extensive experience creating flexible financing solutions for companies like The Modern Group and our commitment to being a full-service banking partner is evident in this new relationship. We look forward to working with The Modern Group to support their business growth and day-to-day banking needs."
The purchase of industrial equipment is expected to increase as companies continue to put cash reserves to work in the year ahead, creating a competitive market for distributors. Agriculture, construction, materials handling and transportation are key segments driving the growth in the industrial equipment sector.
Paul Farrell, President and CEO of The Modern Group, said, "We are thrilled to be working with a premier financial institution like TD Bank and are happy that TD recognizes the value that The Modern Group brings to its 6,000 customers in the Mid-Atlantic Region. We are looking forward to a long term relationship with what is truly 'America's Most Convenient Bank.'"
The Modern Group is a leading industrial equipment distributor with divisions dedicated to forklifts, power systems, arborists and warehouse products. Services provided include sales, fleet management, equipment servicing, parts, training and short-term rentals. The company has been in operation since 1946 and serves more than 6,000 customers in the Delaware, New Jersey and Pennsylvania markets. To learn more visit, http://www.moderngroup.com
TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S., providing more than 8 million customers with a full range of retail, small business and commercial banking products and services at approximately 1,300 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth®, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visithttp://www.tdbank.com. Find TD Bank on Facebook at http://www.facebook.com/TDBank and on Twitter athttp://www.twitter.com/TDBank_US.