Elevex Capital, an equipment payment solutions company, acquired BancLeasing, an equipment leasing company providing community and regional banks with a fully outsourced equipment leasing platform since 1998. The transaction doubles Elevex’s assets under management and significantly expands the company’s financial institutions group, which provides equipment payment solutions through community bank and credit union partnerships. Terms of the transaction were not disclosed.
The acquisition brings 27 bank partnerships, approximately $83 million in managed assets and an experienced team of professionals with relationships across the community banking sector. The combined platform positions Elevex as a leading provider of equipment payment solutions for financial institutions seeking to expand their commercial equipment capabilities without building internal infrastructure.
“Community banks are uniquely positioned to serve their business customers’ equipment needs, but most lack the specialized expertise, technology and structuring capabilities to offer sophisticated payment solutions,” Jeffry D. Elliott, CLFP, CEO of Elevex Capital, said. “This acquisition gives us the scale, relationships, and talent to become the definitive equipment payment partner for community banks across the country.”
The Financial Institutions Group offers community banks and credit unions flexible partnership models, including white-label arrangements, referral programs, co-lending, and participation, allowing institutions to keep all, part, or none of the asset on their books while maintaining the customer relationship.
Mark Buchanan, executive vice president of the financial institutions group, added, “Equipment leasing is a powerful tool for banks to grow relationships with their best commercial clients and prospects. Together with Elevex, we can provide flexible payment solutions that go beyond standard loans, unlocking new opportunities to serve community banks and their business customers.”
Key highlights of the acquisition:
- Doubled AUM: Combined assets under management of approximately $200 million, representing 85% growth.
- Expanded Partnerships: 27 community bank and credit union relationships, spanning 21 states.
- Enhanced Capabilities: Combined platform offers seasonal structures, usage-based models, contract-aligned terms, as-a-service options, and CapEx-to-OpEx conversion for bank customers.
- Retained Talent: Four Banc Leasing professionals join Elevex, bringing decades of community banking relationships and equipment expertise.
