Corporate Finance
Commercial Asset Finance
Equipment, vehicle and asset-backed lending solutions.
Corporate Finance
Transaction and capital advisory across the investment lifecycle.
Overview
How we help.
Commercial asset finance is often the most efficient way to fund equipment, vehicles and operational assets — particularly for asset-intensive businesses with significant ongoing capital requirements. Structure, tax treatment and documentation all matter to the eventual cost of ownership.
Corson Fiske advises clients on commercial asset finance strategy, facility selection and documentation. We work across the major asset finance providers and specialist equipment financiers.
Our advice integrates tax, accounting and cash flow considerations to deliver genuinely optimal outcomes.
Capabilities
- Equipment finance and leasing
- Vehicle and fleet finance
- Operating and finance lease structuring
- Asset-backed lending
- Sale and leaseback transactions
- Novated leasing arrangements
- Portfolio facility negotiation
- Tax and accounting treatment advice
Client Situations
When clients engage us.
The issues that bring clients through our door tend to fall into familiar patterns.
A major equipment purchase is being planned
Significant capital equipment needs to be funded efficiently.
A fleet arrangement is being renewed
Vehicle fleet financing is coming up for renewal or replacement.
A sale and leaseback is being considered
Capital is locked in owned assets and could be released.
Multiple small facilities need consolidation
Fragmented asset finance arrangements would benefit from consolidation.
An unsolicited approach has been received
A potential acquirer has made contact. The board needs independent counsel on whether, when and how to respond.
A facility is approaching maturity
An existing debt facility is due for refinancing and the terms achievable in the current market need to be assessed independently.
Outcomes
What you can expect.
- Asset finance arrangements that minimise total cost of ownership
- Tax and accounting outcomes aligned to commercial intent
- Preserved working capital through appropriate structures
- Consolidated portfolios that simplify administration
Client Success
Outcomes from recent engagements.
Indicative results from engagements within this practice area. Client details have been anonymised; outcomes reflect actual matters completed by the firm.
$95M
Transaction Closed
Sell-side M&A
Led a competitive sell-side process for a family-owned industrial business, achieving a $95M transaction with strategic trade buyer.
Industrial business
$28M
Capital Raised
Growth capital
Arranged $28M of senior and mezzanine capital for a healthcare group’s multi-site acquisition program.
Healthcare group
1.4x EBITDA
Valuation Uplift
Sale readiness
Delivered an 18-month sale readiness program that lifted the valuation multiple from 4.2x to 5.6x EBITDA at completion.
Wholesale distributor
Options & How They Work
Understanding Commercial Asset Finance
Commercial asset finance is the funding of specific productive assets — equipment, vehicles, fit-out, technology and similar items — through structures that separate the financing of the asset from the general balance sheet of the business. For asset-intensive businesses, getting the structure right has material tax, accounting, cash flow and total-cost-of-ownership consequences.
Equipment Finance Loan
How it works. A straightforward term loan secured against the specific asset being purchased. The business owns the asset from day one, repays principal and interest over the term (typically 2-7 years), and the asset appears on the balance sheet. Interest is tax-deductible and the asset is depreciable.
When it fits. Best where ownership of the asset is strategically important, where the asset will be used beyond the loan term, and where tax depreciation benefits align with the business’s profit profile.
Chattel Mortgage
How it works. A chattel mortgage is functionally similar to equipment finance — the business takes immediate ownership and the lender takes security over the asset. The distinction matters primarily for GST treatment: GST on the asset purchase is claimable upfront, rather than on each payment.
When it fits. Well-suited to businesses registered for GST acquiring substantial assets, where the upfront GST input tax credit provides meaningful cash flow benefit.
Finance Lease
How it works. Under a finance lease, the finance company owns the asset and the business pays rental over the lease term, with an option to purchase at a residual value at the end. From an accounting perspective the asset sits on the balance sheet; for tax purposes the lease payments are typically deductible.
When it fits. Historically used where balance sheet impact mattered; less common now under AASB 16, but still valuable for specific situations including novated salary-packaging arrangements.
Operating Lease
How it works. A true operating lease means the lessor retains ownership risk and the asset is returned at the end of the term. Payments are fully expensed. Often bundled with maintenance, warranty and upgrade rights, making it a “usage” rather than “ownership” model.
When it fits. Suited to technology, vehicle fleets and equipment where rapid obsolescence makes ownership economically unattractive, or where the business wants to convert capex to opex.
Sale and Leaseback
How it works. The business sells a currently-owned asset to a finance provider and then leases it back under operating or finance lease terms. Immediately releases cash tied up in the asset while allowing continued use.
When it fits. Useful where cash is needed urgently, where owned assets represent locked-up capital that could be deployed more productively, or as part of a broader capital restructure.
Benefits
Benefits of commercial asset finance.
- Preserves working capital. Rather than consuming cash or using senior debt capacity to buy assets outright, asset finance matches the cost of the asset to its useful life, preserving working capital for other purposes.
- Structured around the asset. Because the facility is secured against the specific asset rather than the whole business, approvals are typically faster, pricing reflects the asset’s specific risk profile, and the arrangement is less intrusive than bank lending.
- Tax and accounting efficiency. Different structures produce different tax and accounting outcomes — depreciation timing, GST treatment, deductibility of payments, balance sheet presentation — and getting the right structure can deliver meaningful benefit over the life of the asset.
- Scales with business needs. Most asset finance providers will fund a portfolio of assets under a master facility, allowing rapid deployment as the business adds equipment or vehicles without renegotiating for each acquisition.
- Flexibility at end of term. Most structures provide multiple end-of-term options — purchase, refinance, extend, upgrade or return — giving the business flexibility to match the asset strategy to operational needs.
Why Corson Fiske
Experience where it counts.
Clients engage Corson Fiske because they need advice they can act on — delivered by senior practitioners who understand both the technical detail and the commercial consequences. Every engagement is led by a partner with direct experience in corporate finance transactions.
Our integrated structure means tax, legal, accounting and advisory questions are resolved within a single firm. For clients operating across Australia, Asia, New Zealand or Asia, our office network in Sydney, Melbourne, Perth, Singapore and Auckland provides consistent advice across jurisdictions.
Our Approach
A refined four-phase method for every engagement.
Corson Fiske applies the same disciplined framework to every matter, regardless of scale. The phases below are not a marketing device — they are the actual structure our partners use to move clients from uncertainty to resolution.
Phase One
01
Understand
A confidential partner-led briefing to establish the facts, commercial drivers, timing pressures and stakeholder dynamics.
- Confidential scoping conversation
- Document and data review
- Stakeholder mapping
- Initial risk identification
Phase Two
02
Analyse
Structured technical and commercial analysis of every realistic option, with a clear view of risks, costs and likely outcomes.
- Technical legal and tax analysis
- Commercial modelling
- Risk-weighted options assessment
- Precedent and market benchmarking
Phase Three
03
Recommend
A written partner recommendation in plain English — not a list of caveats. We stand behind our advice and explain our reasoning.
- Clear written recommendation
- Implementation sequencing
- Stakeholder communication plan
- Contingency and fallback positions
Phase Four
04
Execute
Hands-on delivery of the agreed plan with partner oversight, regular milestone reporting and clear handback at completion.
- Implementation leadership
- Stakeholder engagement
- Milestone tracking and reporting
- Completion review and handback
Key Considerations
What clients need to know.
Engaging external advisors on any significant matter raises practical questions about scope, timing, cost and outcomes. We believe in being straightforward about each of these from the first conversation.
How engagements typically begin
Every engagement starts with a confidential initial conversation — usually 30 to 60 minutes — in which we listen to the situation, ask the questions needed to understand it properly, and share a view on whether and how we can help. There is no charge for this conversation and no obligation to proceed.
How we scope and price work
We prefer fixed-fee or capped-fee arrangements wherever the scope allows. Where the scope is genuinely uncertain — as in contested matters — we agree hourly rates upfront and provide regular fee updates against defined phases. We do not bill for internal discussions, file opening or routine administration.
Who you will work with
Every engagement is led by a partner with direct experience in the matter type. That partner remains your primary point of contact throughout. Specialist colleagues join the team where their expertise is required, but you will never be passed from person to person or find the partner you hired is no longer on the file.
How we handle confidentiality and privilege
All engagements are subject to strict confidentiality. Where legal advice is being delivered, it is provided through our incorporated legal practice and attracts legal professional privilege. We take document security, information handling and communications discipline seriously on every matter.
Get the right advice from Corson Fiske.
Confidential, no-obligation initial consultations with a partner who specialises in corporate finance transactions.