Onset Financial, one of the nation’s fastest-growing independent equipment leasing companies, today announced it has acquired Channel and its subsidiaries, a premier provider of equipment finance and working capital solutions for small business. This strategic acquisition brings together two of the industry’s most innovative and financially strong independent finance companies, creating an unmatched platform with the scale, expertise, and resources to meet the evolving needs of businesses across all segments.
For more than 16 years, Onset has been a driving force in equipment finance, facilitating over $5 billion in funding, with more than $1 billion in the past year alone. With a proven track record across industries including manufacturing, healthcare, energy, aviation, and technology, Onset has built a reputation for exceptional deal structuring, capital strength, and a relentless focus on customer and team member success. Recognized as a Monitor Magazine Top 100 and Independent Finance Company, Inc. Magazine Best Workplace, and Salt Lake Tribune Top Workplace, Onset’s growth trajectory and industry leadership continue to set it apart.
Since its founding in 2009, Channel has provided over $3 billion in financing to more than 30,000 businesses, earning widespread recognition for its data and technology-driven approach, deep industry relationships, and commitment to its partners. Its accolades include listing on Inc. Magazine’s Fastest Growing Companies list for 12 consecutive years. The company has also been recognized as a Top Workplace by Inc. Magazine, Minnesota Star Tribune, and on Monitor Magazine’s Top Companies list for both Culture and Leadership, all of which reflect a reputation built on trust, service, and innovation. Channel has developed industry-superior systems and processes that enable it to deliver a best-in-class financial product to its partners, enhancing efficiency and service.
By joining forces, Onset and Channel are setting a new standard for what a fiercely independent finance company can achieve. This partnership amplifies their collective ability to be nimble, creative, and hyper-focused on innovation, culture, and lasting partnerships. Importantly, the Channel brand and subsidiaries will continue, and the full leadership team and employees will remain in place, ensuring continuity without any disruption for its partners and customers. Onset gains expanded capabilities in small-ticket financing and exclusive partner-based funding models, while Channel benefits from increased capital access and accelerated growth. Together, they create a dynamic, best-in-class lending platform that combines flexibility, scale, and operational strength to deliver groundbreaking financial solutions with a partner-centric focus.
“This acquisition positions us to lead the independent equipment finance space with unmatched resources, expertise, and combined financial strength,” said Justin Nielsen, Founder & CEO of Onset Financial. “The exceptional leadership, industry experience, and culture that the Channel team brings to the table are a perfect match with Onset. Their deep partner network and technology-driven approach, combined with our large-scale leasing capabilities, create a powerhouse of innovation and service. We are excited for the near-term growth opportunities this creates, as we combine forces to build an even stronger future. Together, we’re not just expanding our reach, we’re setting a new standard for excellence, agility, and partnership in the industry.”
“This is a defining moment for Channel,” said Brad Peterson, Co-Founder and CEO of Channel. “From my first conversation with Justin, it was clear that Onset operates with a bold, forward-thinking approach that sets them apart. Their vision, leadership, and ability to execute at scale are truly impressive. Our united strength in both financial foundation and proven expertise, positions us extremely well for projected expansion. What excites me most, however, is not just the financial strength they bring, but their entrepreneurial spirit, like-minded culture, and commitment to collaboration. With Onset, we’re ready to build and transform what is possible in our industry for our partners and customers.”
Established in financial strength, industry expertise, and progressive culture, the newly combined organization will offer a powerful alternative to traditional lending institutions, providing businesses with the agility, service, and tailored financing solutions they need to thrive.
Onset’s legal counsel was Ray Quinney & Nebeker. Keefe, Bruyette & Woods, a Stifel Company, served as financial advisor to Channel, and Simpson Thacher & Bartlett LLP served as its legal advisor.
