Lease Canada Rollup, a new entrant in the Canadian equipment finance marketplace, has acquired a majority interest in Mayo & Associates, an Ontario-based equipment leasing brokerage. A group led by Nadine Harding and Adam Boutara, longstanding Mayo employees, have also purchased shares from founder Stephanie Mayo, who is exiting the business.

The transaction provides Mayo with additional resources to accelerate growth into new markets and enhance the service experience for both customers and vendor partners.

Lease Canada Rollup, branded Rollup Financial in market, is led by Michael Yablon and Jeff Haig, both formerly of Econolease Financial Services. The two executives bring a wealth of experience following their successful exit to Australian-based hospitality funder Silver Chef. With Rollup Financial, they aim to capitalize on a unique opportunity: providing an exit point for owners of small to medium-sized independent finance brokerages.

“In equipment brokering, where so much of the business is relationship-based, it’s difficult for owners to monetize their life’s work,” Yablon said. “Rollup Financial provides an exit point where owners can immediately or gradually take chips off the table while ensuring the business continues to thrive for staff that are wanting to stay.”

“The deal structure was a match for what we were looking for,” Harding said. “On behalf of the entire Mayo team, congratulations to Stephanie. She was an industry trailblazer. We’re delighted for her. We’re excited about the future of Mayo & Associates.”

As part of the transaction, the entire Mayo & Associates team is remaining. Harding will assume the role of president. Boutara will continue to lead the day-to-day administration as vice president, Operations.

The deal closed on Jan. 1, 2025.

“We think the market is best served by maintaining lots of diverse and competitive brokers,” Yablon said. “Our value lies in providing an exit point for owners while delivering back-office expertise, cutting-edge technology, marketing and funding power.”