News — Mergers & Acquisitions
Element Financial to Acquire TLS Fleet Management
Element entered into a definitive agreement to acquire TSL Fleet Management from Scotiabank for approximately $146.7 million plus debt. Additionally, the company announced $75 million in equity financing to fund future growth.
Read more...Date Posted May 15, 2012
Ritchie Bros. Auctioneers to Acquire AssetNation
Ritchie Bros. Auctioneers said it has agreed to acquire AssetNation, an online marketplace and solutions provider for surplus and salvage assets, in an all cash deal valued at approximately $64 million.
Read more...Date Posted May 10, 2012
Liquidity Services to Acquire GoIndustry DoveBid
Liquidity Services, a provider of services for surplus assets, said it agreed to acquire surplus asset management, auction and valuation services provider GoIndustry DoveBid in a deal worth $31 million.
Read more...Date Posted May 10, 2012
United Rentals Closes Acquisition of RSC Holdings
United Rentals announced the closing of its acquisition of RSC Holdings in a cash-and-stock transaction valued at $4.2 billion, including $2.3 billion of net debt.
Read more...Date Posted May 2, 2012
Volvo Rents Acquires Big L Rentals & Sales in Kansas
Rental Equipment Register reported that Volvo Rents acquired Big L Rentals & Sales, a single-location equipment rental company in Garden City, KN. Volvo Rents has made more than 40 acquisitions in the past year.
Read more...Date Posted April 30, 2012
Cypress Financial Joins Summit Commercial Finance
Summit Commercial Finance announced the merger of Cypress Financial and the appointment of Terry Rozzini as SVP, Northwest sales for Summit Commercial. The company also said Jack Steward was appointed VP, direct originations for Summit.
Read more...Date Posted April 26, 2012
City National Bank Acquires First American Equipment Finance
City National Bank said it has entered into a definitive agreement to acquire First American Equipment Finance, a privately owned, full-service mid-ticket equipment leasing company that owns and services approximately $325 million in assets.
Read more...Date Posted April 24, 2012
Pacific Western Bank Acquires Celtic Capital
Pacific Western Bank completed the acquisition of Celtic Capital, an asset-based lending company. Pacific Western Bank acquired all of the capital stock of Celtic for $18 million in cash.
Read more...Date Posted April 20, 2012
DLL Buys Permanent TSB Bank’s Ag Leasing Portfolio For $65MM
Ireland’s RTE News reported that De Lage Landen has acquired Permanent TSB Bank’s agricultural leasing portfolio worth $65 million.
Read more...Date Posted March 22, 2012
Harbor Capital Acquires Mishawaka, Forms Harbor Capital Leasing
Harbor Capital said it has expanded its presence in the leasing industry with the acquisition of Mishawaka Leasing and the formation of Harbor Capital Leasing.
Read more...Date Posted March 22, 2012
Volvo Rents Acquires Max Equipment Rentals
Volvo rents said it has acquired Max Equipment Rental, a two-location construction equipment rental company with stores in southern California.
Read more...Date Posted March 19, 2012
Gibraltar Acquires Greenfield Commercial Credit
Gibraltar Business Capital said it has acquired Greenfield Commercial Credit. To finance the acquisition, Gibraltar received additional equity investments from its current shareholders, CCCC Growth Fund and Satori Capital, and a material increase in its debt facility led by Wells Fargo Capital Finance.
Read more...Date Posted March 12, 2012
Hertz Equipment Rental Acquires Arpielle Equipment
Hertz Equipment Rental acquired Arpielle Equipment, a metropolitan New York City-based rental company, focused primarily on rentals to the construction and industrial markets.
Read more...Date Posted March 12, 2012
Lease Link Acquires Lease Plus Financial
Lease Link Canada said that its affiliated company, Lease Link Acquisition, has acquired all of the assets of Calgary-based Lease Plus Financial, making Lease Link one of Canada’s largest small-ticket originators.
Read more...Date Posted March 5, 2012
United Rentals Acquires Coble Trench Safety
United Rentals said it acquired the assets of Coble Trench Safety, a provider of specialty rentals with 11 locations in the Mid-Atlantic and Southeast region.
Read more...Date Posted February 16, 2012
SunTrust to Acquire Online Lender FirstAgain
SunTrust Banks said it has signed a definitive agreement to acquire online lender FirstAgain, a developer and operator of proprietary technology that offers completely digital and paperless origination, underwriting and servicing.
Read more...Date Posted January 24, 2012
Hertz Equipment Rental Acquires DW Pumps
Hertz Equipment Rental said it has acquired DW Pumps, a pump rental company in northern California.
Read more...Date Posted January 10, 2012
PacWest Bancorp Acquires Marquette Equipment Finance
PacWest Bancorp said its subsidiary, Pacific Western Bank, has completed the acquisition of Marquette Equipment Finance.
Read more...Date Posted January 4, 2012
Olympus Partners Acquires Pizza Hut Franchisee NPC
Olympus Partners said it has acquired NPC International, the largest Pizza Hut franchisee and the largest franchisee of any restaurant concept in the U.S.
Read more...Date Posted January 3, 2012
Golub Capital Finances Acquisition of First Watch Restaurants
Golub Capital said it provided a one-loan debt facility to First Watch Restaurants to support the acquisition of First Watch by Freeman Spogli.
Read more...Date Posted December 28, 2011
GE Capital to Acquire MetLife Depository Business
MetLife said that GE Capital Financial will acquire approximately $7.5 billion in MetLife Bank deposits, including certificates of deposit and money market accounts.
Read more...Date Posted December 27, 2011
Law Firms to Investigate Sale of RSC Holdings
The law firms of Levi & Korsinsky and Bull & Lifshitz announced separately that each is launching an investigation of the sale of RSC Holdings to United Rentals.
Read more...Date Posted December 27, 2011
Fed Approves PNC Acquisition of RBC Raleigh
The Federal Reserve Board issued its order approving PNC’s acquisition of RBC Bank, Raleigh. On consummation of the deal, PNC Bank would become the fifth largest depository organization in the U.S.
Read more...Date Posted December 27, 2011
LeaseInspection.com Merges With SiteCheck Solutions
LeaseInspection.com, an inspection vendor in the leased equipment industry, said it has merged with SiteCheck Solutions, a technology-driven loss control inspection vendor for the insurance market.
Read more...Date Posted December 21, 2011
United Rentals to Acquire RSC Holdings in $4.2B Deal
United Rentals and RSC Holdings said they have entered into an agreement under which United Rentals will acquire RSC in a cash-and-stock transaction valued at $4.2 billion, including $2.3 billion of net debt.
Read more...Date Posted December 16, 2011
Volvo Rents Acquires Wichita’s R-Quip Equipment Rentals
Volvo Rents added to its ongoing roll of acquisitions with the purchase of Richardson Equipment, doing business as R-Quip Equipment Rentals, based in Kansas, the Rental Equipment Register reported.
Read more...Date Posted December 9, 2011
TCF Financial Closes Acquisition of Gateway One Lending
TCF Financial said that its wholly owned subsidiary, TCF National Bank, has completed its previously announced acquisition of Gateway One Lending & Finance. With the completion of the transaction, Gateway One is now a wholly-owned subsidiary of TCF National Bank.
Read more...Date Posted December 2, 2011
Sunbelt Rentals Acquires Pacific High Reach
Rental Equipment Register reported that Sunbelt Rentals has acquired Southern California aerial rental business Pacific High Reach & Equipment Services, acquiring substantially all its assets under Section 363 of the bankruptcy code for about $17.4 million.
Read more...Date Posted November 30, 2011
MEI Healthcare Launches Leasing Program With Biologics Modular
Biologics Modular said it has entered into an agreement with MEI Healthcare Capital to provide a leasing program for cleanrooms and manufacturing facilities for Biologics’ current and potential customers.
Read more...Date Posted November 28, 2011
Original Joe’s Signs Deal to Buy Elephant & Castle
An affiliate of the Original Joe’s restaurant chain has signed a deal to acquire Elephant & Castle Group, an operator of British-style restaurant pubs, for $22.75 million. The company owes GE Canada Equipment Financing $18.8 million and Fifth Street Finance $3.5 million, a BusinessWeek article said.
Read more...Date Posted November 28, 2011
Odyssey Investment Acquires TNT Crane and Rigging
Odyssey Investment said it acquired TNT Crane and Rigging from MML Capital. TNT is a mobile crane rental company serving the Texas, Louisiana and Oklahoma region.
Read more...Date Posted November 22, 2011
Platinum Equity Acquires Fleet Equipment Rental Company NESCO
Platinum Equity and Hammond, Kennedy, Whitney said that Platinum Equity has acquired fleet equipment rental company NESCO from an investor group led by HKW. NESCO founder and CEO Rob Troxel will retain an ownership stake.
Read more...Date Posted November 1, 2011
Titan Machinery to Acquire Van Der Werff Implement
Titan Machinery said it has entered into a definitive agreement to acquire Van Der Werff Implement, a Case IH and New Holland agriculture equipment dealership located in Platte, SD. The acquisition is expected to close on or around November 1, 2011.
Read more...Date Posted October 20, 2011
American Equipment Finance Joins Ascentium Capital
Ascentium Capital announced its merger with American Equipment Finance and the appointment of Richard A. Baccaro as EVP of Sales and Marketing responsible for managing the sales operations of Ascentium Capital. Len Baccaro, as SVP of Sales, will be responsible for direct originations in the Petroleum, Convenience Store, Car Wash and Franchise Industries.
Read more...Date Posted October 19, 2011
TCF Financial To Acquire Gateway One Lending & Finance
TCF Financial said it has signed an agreement to acquire Gateway One Lending & Finance. Gateway One, which has a managed portfolio of $406 million, originates loans to consumers through 3,100 active dealerships in 30 states.
Read more...Date Posted October 13, 2011
SunGard Creates Ambit Asset Finance Through Acquisition
SunGard said it acquired Northern Arch’s 42 solution, a global leasing and financing process management solution. The acquisition creates a new business within SunGard for asset finance and leasing, which will be integrated into SunGard’s Ambit solution portfolio within the corporate banking business unit.
Read more...Date Posted October 4, 2011
Titan Machinery Closes Two Equipment Dealership Acquisitions
Titan Machinery said it closed on two acquisitions in Nebraska. Virgl Implement consists of one Case IH agriculture equipment dealership and Victors consists of one Case IH agriculture equipment dealership.
Read more...Date Posted September 6, 2011
Hertz Closes Acquisition of Fleet Leasing Firm Donlen
Hertz Global Holdings said it completed the acquisition of Donlen Corporation, a fleet leasing and management services firm. Hertz funded the acquisition with $177 million in cash proceeds and assumed $770 million in Donlen fleet debt.
Read more...Date Posted September 2, 2011
Electro Rent Acquires Bankrupt Equipment Rental/Leasing Company
Electro Rent said it will acquire the assets of privately held Equipment Management Technology, a provider of electronic test equipment, in a private sale through the U.S. Bankruptcy court.
Read more...Date Posted August 15, 2011
Titan Machinery to Acquire Two Agriculture Equipment Dealerships
Titan Machinery said it entered into definitive agreements to acquire two Nebraska-based agriculture equipment dealerships, Virgl Implement and Victors.
Read more...Date Posted August 10, 2011
Steve Hudson’s Element Financial Acquires Alter Moneta
Element Financial, a Canadian equipment finance company, said it entered into a definitive agreement to acquire Alter Moneta, a Montreal-based equipment leasing company. Details of the transaction were not disclosed.
Read more...Date Posted August 4, 2011
GE to Sell SeaCo Venture for $1.05 Billion
Bloomberg reports General Electric and a partner agreed to sell shipping-container lessor GE SeaCo for $1.05 billion to China-based HNA Group Co. and Bravia Capital as Jeff Immelt reshapes GE’s finance business.
Read more...Date Posted August 1, 2011
ATEL Venture’s Portfolio Company Innovalight Acquired by DuPont
ATEL Venture said that DuPont has acquired one of its portfolio companies, Innovalight, which specializes in creating black “silicon ink” that is applied to silicon cells during the solar manufacturing process.
Read more...Date Posted July 29, 2011
Volvo Rents Acquires Valley Rental Centers, Continues Expansion
The Rental Equipment Register reports Volvo Rents has acquired Valley Rental Centers, a two-location Volvo Rents franchise based in Merced and Modesto, CA, as part of its ongoing expansion of company-owned facilities.
Read more...Date Posted July 28, 2011
Volvo Rents Acquires Contractors Equipment Rental
The Rental Equipment Register reports Volvo Rents has acquired Orlando-based Contractors Equipment Rental. Volvo Rents recently acquired Sampson Equipment and Tuff Equipment Rentals as part of its footprint expansion.
Read more...Date Posted July 22, 2011
Hertz to Acquire Donlen in $930 Million Transaction
Hertz Global and Donlen Corporation announced the signing of an agreement under which Hertz will acquire Donlen, a provider of fleet leasing and management services, in a $930 million transaction.
Read more...Date Posted July 18, 2011
Key Energy to Acquire Frac-Stack Equipment Rental Companies
Key Energy Services said it has agreed to acquire frac-stack equipment rental companies Edge Oilfield Services and Summit Oilfield for consideration of approximately $300 million in cash and stock.
Read more...Date Posted July 14, 2011
Kingsbridge Holdings Acquires Trilogy Leasing
Kingsbridge Holdings acquired Trilogy Leasing, a leasing services provider of new and previously owned technology equipment, increasing Kingsbridge’s total assets in excess of $420 million.
Read more...Date Posted July 12, 2011
Cat Closes Bucyrus Deal; Wunning to Lead Cat Mining
Caterpillar announced it has completed its acquisition of Bucyrus International. Caterpillar funded the acquisition, valued at approximately $8.8 billion (including net debt), using cash from its balance sheet and debt.
Read more...Date Posted July 11, 2011
Wells Fargo Completes Acquisition of Castle Pines Capital
Wells Fargo said it has completed the acquisition of Castle Pines Capital, a provider of channel finance services that will become a part of Wells Fargo Capital Finance.
Read more...Date Posted July 6, 2011
Susquehanna Bancshares to Acquire Tower Bancorp
Susquehanna Bancshares and Tower Bancorp announced the signing of a definitive agreement under which Susquehanna will acquire all outstanding shares of Tower common stock in a stock and cash transaction.
Read more...Date Posted June 23, 2011
Volvo Rents Continues Expansion, Acquires Tuff Equipment Rentals
The Rental Equipment Register reports Volvo Rents acquired Louisiana-based Tuff Equipment Rentals, its second major acquisition within a week. On June 14, Volvo Rents announced the acquisition of Utah-based Sampson Equipment.
Read more...Date Posted June 21, 2011
Ryder Acquires UK-Based Commercial Truck Leasing Provider
Ryder System said it has acquired UK-based Hill Hire, an independently run and wholly owned subsidiary of Lloyds Banking Group and provider of commercial truck leasing, rental and maintenance.
Read more...Date Posted June 8, 2011
Wells Fargo Capital Finance to Acquire CPC Equity Interest
Wells Fargo announced it has entered into a definitive agreement to acquire the remaining equity interest Castle Pines Capital (CPC) and its affiliates. CPC provides financing solutions to resellers of technology and will become a part of Wells Fargo Capital Finance’s Lender Finance division.
Read more...Date Posted May 27, 2011
GE Capital to Sell Stake in Banco Colpatria
GE Capital announced that it has agreed to sell its 49.77% stake in Banco Colpatria to its current joint venture partner Mercantil Colpatria for an undisclosed amount furthering its objective in reducing its overall size.
Read more...Date Posted May 26, 2011
Liquidity Services to Acquire TruckCenter.com
Liquidity Services said it has agreed to acquire TruckCenter.com, an online auction marketplace for fleet and transportation equipment. Terms of the deal include an upfront payment of $9 million in cash plus additional cash payments of up to $9 million.
Read more...Date Posted May 26, 2011
Allegiant Partners Increases Facility, Purchases Portfolio
Allegiant Partners said it increased its facility with Harris from $13 million to $16.5 million. Allegiant separately announced the acquisition of a $1 million portfolio from a privately-held equipment finance company.
Read more...Date Posted May 25, 2011
Marshall & Ilsley Shareholders Approve Bank of Montreal Merger
Marshall & Ilsley said its shareholders approved the merger agreement with Bank of Montreal in which BMO will acquire all outstanding shares of M&I common stock.
Read more...Date Posted May 18, 2011
Titan Machinery to Acquire Construction Equipment Business
Titan Machinery has entered into a definitive purchase agreement to acquire St. Joseph Equipment’s construction equipment business. The acquisition consists of construction equipment locations in Minnesota and Wisconsin.
Read more...Date Posted May 2, 2011
Dell Intends to Acquire DFS/CIT JV Canada; CIT Assets in Europe
Dell announced its intent to acquire Dell Financial Services Canada, a CIT Vendor Finance and Dell partnership. Dell also said it will acquire CIT Vendor Finance’s Dell-related assets, sales and servicing functions in Europe.
Read more...Date Posted April 25, 2011
Perella Weinberg to Acquire AIG Rail Services
Perella Weinberg Partners and American International Group announced that an affiliate of Perella Weinberg Partners’ Asset Based Value strategy has entered into a definitive agreement to acquire AIG Rail Services.
Read more...Date Posted April 19, 2011
Davis + Henderson Acquires Mortgagebot
Davis + Henderson has satisfied all closing conditions and completed the acquisition of Mortgagebot for approximately $231.8 million.
Read more...Date Posted April 13, 2011
Titan Machinery to Acquire ABC Rental
Titan Machinery announced it has entered into a definitive purchase agreement to acquire ABC Rental, an independent rental yard company, consisting of four rental equipment locations in Montana and North Dakota.
Read more...Date Posted March 29, 2011
LiuGong Expands Into Europe With Acquisition
Chinese construction equipment manufacturer LiuGong said it will acquire Huta Stalowa Wola of Poland. HSW manufacturers crawler dozers and wheel loaders, which are sold through its distribution subsidiary Dressta.
Read more...Date Posted March 25, 2011
Brentwood Associates Acquires Taco Bell Franchisee
Brentwood Associates has acquired K-MAC Holdings, one of the largest Taco Bell franchisees in the U.S. that also operates KFC and Golden Corral restaurants. BofA Merrill Lynch, Wells Fargo Bank and SunTrust Robinson Humphrey were joint lead arrangers on senior debt financing supporting the acquisition.
Read more...Date Posted March 22, 2011
Pacific Corporate & Title to Join First Corporate Solutions
First Corporate Solutions announced that two key divisions of its sister company, Pacific Corporate & Title Services, will merge into the First Corporate Solutions national brand on March 14, 2011.
Read more...Date Posted March 15, 2011
Terumo to Buy U.S. Medical Equipment Maker CaridianBCT
Japanese medical equipment manufacturer Terumo said it will buy U.S. firm CaridianBCT for $2.63 billion. CaridianBCT, based in Colorado, makes medical devices such as automated blood-collection equipment. The company is currently owned by Sweden’s Gambro. The deal is expected to close in May 2011. Terumo said the acquisition will make it the largest company by [...]
Read more...Date Posted March 8, 2011
Tiger Group Acquires M&E Appraiser Daley-Hodkin, Announces New Hires
Asset valuation and disposition leader, Tiger Group, has acquired assets of Melville, N.Y.-based Daley-Hodkin Group, a firm specializing in appraisals of machinery and equipment as well as fully integrated asset disposition services. Daley-Hodkin’s operations will be relocated to Tiger’s Midtown Manhattan offices later this month. “We are very excited about this opportunity to join one [...]
Read more...Date Posted March 8, 2011
Allegiant Partners Purchases Two Equipment Finance Portfolios
Allegiant Partners said it recently completed two small-ticket equipment leasing portfolio purchases for a total receivable balance of $5 million. Chris Enbom, CEO of Allegiant Partners stated,”We closed both transactions without legal or other expenses usually associated with portfolio purchases. We continue to be on the lookout for unusual situations.” Enbom continued, “Allegiant Partners continues [...]
Read more...Date Posted March 2, 2011
Pritzker Family Sells Container Leasing Business
Private equity firms Warburg Pincus and Vestar Capital Partners said they have reached an agreement to acquire joint control of Triton Container International Limited (Triton) from Pritzker family business interests. Triton’s current management team will continue to lead the business and will hold significant equity in the company. Pritzker family business interests will also retain [...]
Read more...Date Posted February 26, 2011
MV Sales/Leasing to Acquire BusWest From LA Freightliner
MV Sales and Leasing (MVSL), a subsidiary of MV Transportation, announced it has signed a definitive agreement for MVSL to acquire specific assets of BusWest, a Carson, CA-based passenger transportation equipment dealer, from LA Freightliner. Terms of the deal were not disclosed. MVSL said BusWest will be the preferred supplier of buses for MV Transportation [...]
Read more...Date Posted February 23, 2011
Ryder Completes Scully Companies Acquisition
Ryder System completed its previously announced acquisition of The Scully Companies, , based in California. Scully is a privately owned, regional provider of full service lease, contract maintenance, commercial rental and dedicated contract carriage solutions primarily serving the western United States. The acquisition is expected to add approximately $100 million in annualized operating revenue and [...]
Read more...Date Posted February 2, 2011
