Xylem and Key Equipment Finance have announced that the two companies have teamed up to provide flexible equipment financing options for water utilities and other organizations interested in acquiring Xylem’s water and wastewater transport and treatment solutions. Xylem is a leading global water technology provider that enables customers to transport, treat, test and efficiently use water in public utility, residential and commercial building services, industrial and agricultural settings. Key Equipment Finance is one of the nation’s largest bank-held equipment finance companies and an affiliate of KeyCorp.
The partnership with Key Equipment Finance makes it easier for Xylem customers in North America to acquire Xylem’s Flygt, Leopold, Sanitaire and Wedeco water and wastewater transport and treatment products. Through this agreement, flexible financing will be available from Key Equipment Finance for loans greater than $100,000.
“Investments in water and wastewater infrastructure are critical to building more sustainable and resilient local water supplies, but they can have a high initial cost for local utilities,” said Andy Fraher, Director of Marketing and Business Development, North American Commercial Team at Xylem. “Traditional bond financing and state revolving funds are not always sufficient to cover the initial costs of ownership and installation for these systems. However, with the flexible financing options offered through this new alliance, customers in the public sector can gain quicker access to tax-exempt financing and a way to pay for infrastructure upgrades from their current operating budgets.”
In addition to funding the acquisition of water and wastewater treatment and transport upgrades from ongoing revenue, the partnership with Key Equipment Finance enables Xylem customers to take advantage of favorable interest rates and maximum flexibility while acquiring equipment that will result in increased efficiencies, reduced maintenance issues, and overall cost savings.
“Xylem is known globally as a technology company that is committed to solving the world’s water problems, which is exemplified through programs like this one that provides a way for utilities to fund the equipment they urgently need,” said Ken Blanck, Vice President of Innovation Markets at Key Equipment Finance. “We look forward to working with Xylem to deliver flexible financing solutions through this partnership.”
Xylem noted Key Equipment Finance’s long-standing reputation as a leader in the equipment finance sector, as well as the professionalism, expertise and strategic thinking brought by the individuals on the Key Equipment Finance team as key reasons for selecting the company as its finance partner.