PEAC Solutions, a multi-national asset finance platform, signed a definitive agreement with ePlus to purchase the domestic subsidiaries of ePlus that comprise the company’s U.S. financing business. The ePlus Finance team specializes in delivering financing and leasing solutions to the U.S. Federal, State and Local government sectors, as well as direct and vendor originated leasing to Enterprise customers.
The closing of the agreement is expected within the next 60 days and is subject to the various terms and conditions as further described in the ePlus form 8-K filed on the date a related press release was issued.
The acquisition is expected to further supplement PEAC Solutions’ IT finance business and expand the company’s expertise and capabilities in the U.S. federal, state and local government sectors. It is also expected to benefit ePlus Finance partners and customers, who will continue to work with many of their same relationship contacts, while also having access to new financing solutions and structures that encompass a wider range of assets.
“By combining PEAC Solutions’ finance capabilities with the specialized knowledge and relationships from ePlus Finance, we will be able to further enhance the value that we deliver to both our vendor partners and customers,” William Stephenson, global CEO of PEAC Solutions, said. “We see this collaboration driving significant growth in new business, which will further validate PEAC Solution’s position as one of the top independent lessors in the U.S. market.”
“The ePlus Finance team has decades of experience serving federal, state and local markets,” Chad Fredrick, president of ePlus Group, said. “By joining forces with PEAC Solutions, we will further deepen our presence in these sectors while also expanding our commercial offering. This partnership enhances our ability to deliver a more sophisticated and scalable platform to better serve our partners and customers.”
