First Citizens Bancshares Partners with Dynapac for Innovative Road Construction Financing Solutions

Strengthening Road Construction Financing: A New Partnership Between Dynapac and First Citizens Bank

Dynapac North America LLC, a subsidiary of the Fayat Group, partners with First Citizens Bank Equipment Finance to revolutionize the financing landscape for road construction equipment. This newly established vendor finance agreement aims to provide Dynapac's dealer network and distributors with flexible leasing and lending solutions, facilitating the acquisition of essential machinery such as asphalt rollers, pavers, and feeders. By enhancing access to these critical tools, this collaboration seeks to bolster road construction, maintenance, and repair operations, ultimately improving project outcomes across the industry.

Yann Monnet, President and General Manager of Dynapac North America, underscores the significance of this partnership, highlighting its potential to empower contractors. With enhanced financing options, contractors can achieve high-quality results while simultaneously supporting their business growth. This initiative reflects a growing recognition of the importance of financial flexibility in the construction sector, where access to modern equipment can directly influence project efficiency and effectiveness. By providing tailored solutions, First Citizens Bank plays a crucial role in enabling Dynapac's customers to meet the increasing demands of road construction projects.

Harold Ray, who heads the construction group at First Citizens Bank Equipment Finance, reiterates the value of Dynapac’s reputation for engineering excellence and dealer support. He notes that this new retail and rental financing program is designed specifically to assist dealers in identifying the right equipment for their customers’ needs. With over $200 billion in assets, First Citizens Bank is well-positioned to provide comprehensive financial services, ensuring that businesses in the construction industry can thrive through access to the latest technology and equipment.

In addition to this partnership, First Citizens Bank continues to solidify its position in the financial services sector, being recognized as a top 20 U.S. financial institution and a member of the Fortune 500™. The bank's commitment to supporting industries such as construction through tailored financing solutions showcases its dedication to fostering growth and innovation in critical sectors.

The collaboration between Dynapac and First Citizens Bank exemplifies how strategic financial partnerships can enhance operational capabilities in the construction industry, providing the necessary tools for success in a rapidly evolving market.