ePlus inc. announced it has signed a definitive agreement to sell its domestic U.S. financing business to Marlin Leasing Corporation, operating as PEAC Solutions. This strategic divestiture is intended to position ePlus as a pure-play technology solutions provider, focusing entirely on its core technology and services segments. The transaction is expected to close within the next sixty days, subject to various terms and conditions.
Mark Marron, CEO and president of ePlus, stated that the sale provides incremental capital to focus on growth and acquisition opportunities within the technology and services space. This move strengthens the company's ability to invest in high-growth areas such as AI, cybersecurity, data center modernization, high-performance networking, and related consulting and managed services.
The divestiture also offers flexibility to accelerate plans for expanding ePlus's footprint and customer base. While divesting its own financing arm, ePlus will continue to offer value-add financing services to its technology customers and vendors through PEAC Solutions, a respected and experienced financing platform. Macquarie Capital (USA) Inc and K&L Gates LLP represented ePlus in the transaction.
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