Sheer Venture Solutions (SVS), a Philadelphia-based concierge merchant banking firm, formed a new division, Sheer Acquisition Capital, to increase its presence and participation in the equipment leasing industry.

The new division will be focused on acquiring lease portfolios and originating leases in the construction equipment and transportation segments in the U.S. and Canada.

According to SVS CEO Chris Schiavino, “Leasing has always been an integral component of the services that SVS provides to our client base of emerging and early stage companies. A recent influx of private equity capital has enabled us to create SAC and greatly expand our leasing industry presence.”

SAC plans to acquire performing and non-performing B & C credit portfolios from $1 million to $50 million and will utilize its broad capabilities in lease servicing, asset management, collections and remarketing to maximize the return from its investments.

Joining Schiavino in the management of the new division are Steve Cass as vice president of Marketing, Paul Lipschutz as vice president of Strategy and Alan Zeppenfeld as director of Portfolio Acquisition.