Redaptive, an energy solutions company, closed its inaugural equipment finance asset-backed securitization (ABS), expected to total approximately $137.4 million. The transaction, Redaptive Equipment Issuer 2026-1, LLC (RDAP 2026-EQ1), is being structured by ATLAS SP Partners, the warehouse finance and securitized products business majority owned by Apollo funds, which is serving as sole structuring agent and sole bookrunner.
This is Redaptive’s second asset-backed securitization and its first backed by equipment loans and leases, following the company’s inaugural $216 million energy-as-a-service (EaaS) ABS, which closed in December 2025. Where that transaction was backed by Redaptive’s EaaS contracts, this transaction is backed by a pool of mid to large ticket equipment finance contracts diversified across equipment types, industries and geographies, including transportation, energy efficiency, marine, material handling, construction, power generation, manufacturing and IT assets financed for commercial and industrial customers.
“This transaction represents another milestone in Redaptive’s capital formation strategy behind our energy solutions platform,” Matt Gembrin, chief investment officer of Redaptive, said. “The structure of this equipment finance securitization allows us to bring a pool of equipment finance contracts to the capital markets, extending the scalable model we’ve built for financing infrastructure at scale. This transaction further validates our data-driven approach to underwriting and our ability to deliver reliable, performance-backed returns to investors.”
Equipment finance ABS creates opportunities to package verified equipment finance payment streams into portfolios and offer investors exposure to infrastructure-like cash flows. Redaptive’s pool reflects the company’s underwriting and servicing model, encompassing credit review, collateral analysis and ongoing portfolio monitoring across its customer base.
“Redaptive has built a differentiated equipment finance platform, and we are proud to have been an early supporter of the company’s growth,” Thomas Pai, managing director and head of auto and equipment origination at ATLAS, said. “This transaction demonstrates the strength of Redaptive’s business and ATLAS’s expertise in helping high-quality, first-time issuers access the ABS markets. We look forward to continuing to support Redaptive’s growth and long-term success.”
The transaction has been rated by DBRS Morningstar.
