The Alta Group served as financial advisor to Connext Financial in its acquisition by Engs Commercial Finance.

As reported previously, Connext Financial will become the Industry Equipment Division of Engs and the businesses will continue to be led by Ken Wuethrich, managing director, and David Stearns, senior vice president. Craig Weinewuth, president and CEO of Engs, indicated that the combined companies will originate $500 million in annual lease and loan originations.

Bruce Kropschot, senior managing director and Merger and Acquisition Advisory Practice leader for The Alta Group, noted that the Connext-Engs transaction was the fourth equipment finance company acquisition in 2016 in which The Alta Group played an important role.

The other three are Atalaya’s acquisition of CG Commercial Finance, BofI Federal Bank of San Diego’s purchase of Pacific Western Equipment Finance and Navitas Credit’s buy of Liberty Financial.

“We continue to see substantial interest in the acquisition of successful equipment leasing and finance companies. Prices continue to be attractive to sellers, and we expect to complete several more M&A transactions before the end of the year,” Kropschot said. “Because of the active M&A market, The Alta Group has expanded its M&A staff, with experienced leasing veterans Jim Jackson and Patricia Voorhees filling important roles in serving our M&A advisory clients.”