Onset Financial said it has completed its acquisition of Mazuma Capital, a Draper, UT-based equipment leasing and financing company. The two organizations, which had previously been competitors, are excited for the increased opportunities their new union will bring. Both entities will continue as independent companies under the direction of Onset Financial.

“We are excited to have Mazuma Capital as part of the Onset Financial group of companies,” said Justin Nielsen, Onset’s chief executive officer. “We look forward to providing Mazuma with more diverse funding sources, and greater opportunities to write business. Additionally, we’ve worked hard to established a unique and exciting corporate culture at Onset, and we are eager to inject that culture within Mazuma.”

“I am thrilled with this acquisition,” adds Matt Burrows, Sr. VP of Sales with Mazuma. “In the past, we’ve dealt with transactions where providing underwriting became difficult. With the full resources of Onset behind us we now have a greater ability to match our clients with funding terms that meet their needs.”

“We’ve been very aware of the success and talents within Mazuma, and saw this as an opportunity to combine our strengths and grow both organizations,” said Scott Miller, president of Onset Financial. “We are excited for the future and where this acquisition will take us.”