Announced
Synopsis
Mitsubishi UFJ Lease & Finance, a financial services provider, has agreed to acquire all shares in ENGS Holdings, a leading commercial finance company that provides vendor finance solutions for transportation assets (trucks and trailers), machine tools and construction equipment and working capital and insurance solutions throughout the US, from a group of shareholders represented by Aquiline Capital Partners, a New York-based private equity firm investing in financial services. Financial terms were not disclosed. “We are extremely excited to become part of the MUL family. The strength and power of the MUL brand worldwide is unrivaled. Becoming the US-based vendor finance platform to carry out MUL’s vision will provide great benefits to our employees, vendors and customers. Together with MUL’s existing US businesses, we will be able to offer our vendor and customer clients products and services that very few in the US can match. MUL and ENGS share the same vision to become the leading commercial finance company in the US. We will achieve this by providing the best-in-class products and services to our vendors and customers. This will enable them to grow their businesses most efficiently,” Craig Weinewuth, ENGS President and CEO.
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