Balance sheet and other investor capital managed under Apollo’s aligned alternatives platform have agreed to acquire Netherlands-based equipment leasing specialist Beequip from NIBC. Beequip will further the build-out of Apollo’s European equipment finance platform.
“Beequip has established itself as a leader in the equipment finance space in its home market, with a strong team and robust underwriting to serve a growing base of SMEs in the Netherlands and beyond,” Kevin Crowe, partner in Apollo’s financial institutions group, said.
“We are pleased to welcome the Beequip team to Apollo’s origination ecosystem and to support the business as it continues to scale, meeting vital demand from SMEs to facilitate their business plans and fuel economic growth,” Mikhail Rychev of Apollo said.
“We are extremely proud of our team and the success we have achieved. Leveraging our expertise in equipment, our focus on used machinery, and our ‘iron above numbers’ philosophy, we have consistently increased market share,” Giel Claes and Peter Loef, co-founders of Beequip, said. “With the help of our self-developed fintech systems, we have provided entrepreneurs with user-friendly and tailored financing solutions for heavy equipment. We look forward to working in partnership with Apollo in this exciting next chapter, with a solid foundation for growth domestically and internationally alongside a steadfast commitment to risk management.
The transaction is subject to customary closing conditions and expected to be completed before the end of 2024.
