PEAC Solutions has signed a definitive agreement to acquire the U.S. financing subsidiaries of ePlus, expanding its asset finance platform.
The deal, expected to close within 60 days pending regulatory approval, will enhance Mount Laurel, N.J.-based PEAC’s presence in the federal, state and local government sectors, according to today’s PEAC release. ePlus Finance provides leasing and financing solutions to government and enterprise clients.
The acquisition will strengthen PEAC’s IT finance operations and offer expanded services to ePlus Finance partners and customers, according to the release. ePlus Finance partners and customers will retain many existing contacts while gaining access to broader financing structures.
PEAC’s leadership said the transaction is expected to fuel significant business growth and reinforce its position as a top independent U.S. lessor, according to the release. ePlus executives noted the move will deepen market presence and broaden the commercial offering through a more scalable platform.
PEAC Solutions operates across North America, Europe and the United Kingdom delivering asset-based financing for a range of industries. ePlus, headquartered in Virginia, provides technology solutions and services globally, with more than 2,100 employees.
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