ePlus enters into agreement to sell financing business to PEAC

ePlus (PLUS) announced that it has a signed a definitive agreement with Marlin Leasing Corporation, dba PEAC Solutions, a portfolio company of the Asset Value Funds sponsored and managed by leading global investment firm HPS Investment Partners, to sell the domestic subsidiaries comprising its U.S. financing business. “We are pleased to announce the divestiture of our financing business to PEAC, a renowned industry leader that will continue our long history of providing excellent customer service, responsiveness, and creative financing solutions to our customers,” stated Mark Marron, CEO and president of ePlus. “Given the rapidly evolving technology industry, the sale of our financing business gives us incremental capital to focus on growth opportunities and acquisition opportunities in the technology and services space.”