Elevex Capital acquires BancLeasing, doubles managed assets
Combined lender now manages about $200 million in assets
Elevex Capital has acquired BancLeasing, expanding its financial institutions group and doubling its assets under management.
Terms were not disclosed, according to today’s Elevex release. BancLeasing, founded in 1998, provides outsourced equipment leasing platforms for community and regional banks.
The acquisition adds 27 bank partnerships, about $83 million in managed assets and a team with deep community banking relationships, according to the release. The combined company now manages about $200 million in assets and operates across 21 states.
The deal strengthens Elevex’s position as a provider of equipment payment solutions for financial institutions that want to offer commercial equipment financing without building internal infrastructure, according to the release. The acquisition adds scale, relationships and expertise needed to serve community banks’ equipment financing needs.
Key highlights include:
- Assets under management increased to about $200 million;
- 27 bank and credit union partnerships added across 21 states;
- Expanded capabilities including seasonal payments, usage-based models and as-a-service structures; and
- Four BancLeasing employees joined Elevex.
Elevex Capital provides equipment payment solutions across the U.S. and Canada, offering structures such as usage-based and seasonal payments, supported by capital partnerships and credit facilities.
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