Funds affiliated with private equity firm Warburg Pincus have agreed to acquire Ascentium Capital. Tom Depping, CEO of Ascentium Capital, has agreed to roll over his entire equity ownership stake in the business and continue to lead the company.

“We are pleased by the endorsement of our business model and growth prospects demonstrated by Warburg Pincus’ acquisition. We continue to be laser focused on better serving our vendor partners and small business customers with ongoing innovation to our financial products and service solutions,” Depping said. “The increased access to capital combined with the expertise Warburg Pincus has in the specialty finance sector will benefit our equipment vendors, small business customers and our employees.”

Since its founding in 2011, Ascentium Capital has provided over $2 billion in financing and since 2012, the company’s originations have grown at a 51% annualized growth rate.

“We plan to continue expanding on the investments the company has made in building an industry-leading financing platform to drive their differentiated approach from traditional small business lending through their unique combination of technology, excellent customer service, speed and flexibility,” said Michael Martin, managing director of Warburg Pincus.

“We see a compelling market opportunity to continue to build Ascentium to become a multi-product capital provider to small businesses through both organic growth and complementary acquisitions,” said Arjun Thimmaya, managing director of Warburg Pincus.

Ascentium Capital was advised by Goldman Sachs as financial advisor and Vinson & Elkins as legal counsel. Warburg Pincus was advised by Keefe, Bruyette & Woods, a Stifel Company, as financial advisor and Cleary Gottlieb Steen & Hamilton as legal counsel.

Warburg Pincus has more than $40 billion in private equity assets under management and more than 120 companies in its portfolio.