1 Financial Summary | The Connell Company

Financial Summary

As a privately held company, The Connell Company does not release its financial statements or other financial information to the public and is not burdened with the concerns of quarterly or annually reported earnings.

The Connell Company has been 100% owned, controlled and managed by the Connell family since it was founded in 1926. Connell’s financial strength benefits from its philosphy of conservative fiscal stewardship.  The Company’s principals adhere to a philosophy of deploying Company profits back into its various businesses to foster long term growth. Throughout its history Connell has had no, or very limited, corporate or entity-level debt. Connell’s prudent management of capital has enabled the firm to accumulate significant wealth, to grow its diverse business lines,  and to continue to grow its real estate holdings.

Connell’s financial strength, commitment and capability is best demonstrated with Connell Corporate Park, a self-developed, 1.5 million square foot of Class A, commercial office campus that was built solely on the balance sheet of the Company without any reliance on third-party financing or construction loans.  Even after properties are developed and stabilized, Connell believes in using low levels of debt.  To wit, Connell Corporate Park is not encumbered by any debt.  Connell Equipment Leasing Company, a division of Connell Finance Company, which leases forklift trucks and other material handling equipment to investment grade companies, is funded with 100% internal capital and does not use any outside leverage to fund its business.  This is especially unique for a finance company, where leverage ratios often reach 10:1 debt to equity.  Even though the Company has had very limited use of corporate borrowings, Connell maintains and enjoys long-term relationships with many of the most prestigious banks and financial institutions in the world should the need ever arise.  The Company conservatively manages its capital with the prime objective of growing its various businesses and building wealth within the Company.