Pumps might qualify as the unsung heroes of the industrial world. “Pumps are actually the second most common piece of rotating equipment, second only to electric motors,” says Tom Henderson, President of Chandler-based Capital Pump & Equipment, which caters to a wide variety of customers, including large city infrastructure projects such as sewer lines and potable water lines, mining, oil and gas, manufacturing and agriculture—all the way to dust control for contractors.
Henderson got his start in the industry living in Arizona while managing western U.S. distribution for a pump manufacturer in Oregon. “It was becoming harder to find knowledgeable pump distributors that could size pumps correctly and apply them correctly,” he says. “In 2013, I approached the company I worked for and said I wanted to go out on my own and be a distributor. They said go for it, and that I could have their line.”
In the subsequent eight years, Henderson has grown the business to include pump rentals, as well as distribution. “That’s pretty unique in the marketplace—most companies are either one or the other,” he says. “We always had our eye on the pump rental business, but it’s massively capital intensive.”
To scale the rental side of the business, Henderson turned to National Bank of Arizona’s Tom Kaupie, Senior Vice President, Regional Commercial Manager. “Our previous bank had difficulty grasping the pump rental side of the business,” Henderson says.
“When I got introduced to NB|AZ® in 2018, Tom Kaupie quickly understood these were income-producing assets, and he’s been phenomenal in helping us get the financing we need to become a major regional pump rental company.”
- Tom Henderson, President of Capital Pump
Today, the company’s rental fleet includes about 200 pumps, ranging anywhere from $30,000 on the low end up to several hundred thousand dollars on the higher end. In addition to the Chandler headquarters, the company has also expanded to locations in Safford, Tucson, and Las Vegas.
“When Tom’s CPA connected us, he was really trying to take his rental business to the next level,” says Kaupie. “As we listened to the story, we liked what we heard. Knowing what he wanted to achieve with rentals, we were willing to be more aggressive in that component, doing the financing to increase the number of pumps he had in stock. He’s on a high-growth trajectory, and it’s been gratifying to play a role in that.”
Not long after Kaupie began helping Henderson on the commercial side, he also introduced him to Carmel Fenwick, NB|AZ Vice President, Private Banker. “Carmel is very personable, and it’s great to be able to pick up the phone and ask her questions,” Henderson says. “Currently, she’s helping me with a home equity line of credit on my personal residence. It’s nice to have all of my business and personal accounts at the same place, and it’s seamless when it comes to things like getting documentation.”
For Fenwick, the relationship with Henderson points to the holistic way that the National Bank of Arizona team assists its clients. “We always want to make sure that they understand all the programs and experts that are available,” she says. “While clients like Tom are focused on their business, my job is to help them take care of their personal finances, whether it’s retirement programs, getting competitive interest rates, or just putting money away for a rainy day.”
“One of the things that always makes my head spin is the diversity of our Arizona clients,” says Fenwick. “Tom’s a passionate guy and an independent thinker, and he’s really making an impact in Arizona and it's exciting to see that he's expanding outside of our state.”