Diversis Capital acquires equipment finance fintech LTi
Platform manages more than $180B in assets
Diversis Capital has acquired LTi Technology Solutions, a provider of equipment finance software, in a move aimed at accelerating product innovation and expanding the company’s global reach.
Omaha, Neb.-based LTi develops technology platforms for the equipment finance industry, including its ASPIRE lifecycle management system, which supports originations, servicing, portfolio management and reporting, according to today’s LTi release. The platform’s customers include banks, captives, and independent finance companies, which together represent more than $180 billion in assets.
The acquisition comes as equipment finance companies increasingly modernize legacy systems and adopt digital tools to improve operational efficiency, data transparency and reporting, according to the release. LTi plans to accelerate product development and expand artificial intelligence capabilities to better serve evolving customer needs.
LTi co-founders Randy Haug and Russ Hallberg will retain minority ownership and remain involved in the business, according to the release. President and CEO Jeff Van Slyke and the existing leadership team will continue to lead the company.
Los Angeles-based Diversis Capital, a private equity firm focused on software and technology-enabled services companies, will support LTi’s growth strategy through investment in its platform and innovation roadmap, according to the release. KeyBanc Capital Markets served as exclusive financial advisor to LTi on the transaction.
The fourth annual Equipment Finance Connect, a crucial industry event for equipment lenders and dealers, takes place at the C. Baldwin Hotel in Houston from May 18-19. Learn more about the event and register here by April 3 for early-bird savings.
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