Bloomfield Hills, Michigan, 16 March 2010
Macquarie Equipment Finance (MEF), a global provider of independent lease financing and asset management solutions, today announced that it has acquired the Technology Services Division of Relational Technology Solutions (Relational). As part of the agreement, MEF will also service Relational’s existing lease portfolio.
The acquisition provides MEF with a substantial number of new leasing customers, additional experienced leasing professionals and the ability to offer new services relating to network and communications equipment that will be attractive to MEF’s existing client base. Terms of the transaction were not disclosed.
Relational’s lease portfolio consists of approximately $US500 million of assets leased to mid market and enterprise customers across the United States and Canada. Relational’s Technology Services Division is headquartered in Columbus, Ohio and provides technology hardware acquisition and integration services and unified communications solutions to mid market, enterprise and government customers.
“This agreement continues Macquarie’s strategy of selectively seeking acquisitions and servicing arrangements that strengthen our position as a leading global provider of independent leasing solutions,” said Andrew Gee, Global Head of Macquarie Equipment Finance.
Relational’s Technology Services Division (RTS) has strategic relationships with leading technology manufacturers, serving as a Value Added Reseller (VAR) of unified communications and enterprise IT solutions. “With the addition of RTS’ solutions and services, customers of the combined business benefit from the improved service offering, increased resources and operational scale that Macquarie provides,” Gee added.
In addition to completing a stock purchase of the Technology Services Division, MEF has integrated a number of Relational’s leasing sales and back office personnel into its operations. “As a result, Macquarie now has one of the largest and most experienced direct sales forces in the North American market and our customers will benefit from Relational’s industry best practices and talent,” said Greg Goldstein, President of Macquarie Equipment Finance.
“We now provide leasing and asset management services to over 2400 companies across the U.S. and Canada and we are actively looking to grow this further both organically and through selective acquisitions,” added Goldstein.
Relational Technology Solutions (Relational) is a premier independent technology and financial solutions provider dedicated to helping its clients solve business challenges with an integrated suite of solutions for technology acquisition, finance and disposition. Founded in 1990, Relational has been ranked one of the top five independent lessors in the U.S., serving for Fortune 1000 and mid-market companies across all industries. For more information, visit www.rts.com.