Key Takeaways
- • Stonepeak, the New York-based alternative investment firm with approximately $98 billion in assets under management, completed its acquisition of BMO Financial Group's Transportation Finance and Vendor Finance businesses in the United States and Canada.
- • The acquired businesses have launched as an independent company, Longview Capital Solutions, a commercial equipment finance platform serving customers across North America.
- • Longview is one of the largest lenders to the commercial truck and trailer segment, operating through two lines: Longview Transportation Finance and Longview Vendor Finance.
- • Gary Kempinski is Chief Executive Officer of Longview; Will Schleier is Senior Managing Director at Stonepeak.
- • Under a transition services arrangement, BMO will continue to service and originate current and future loans for Longview, and the company states there will be no material operational changes for customers at this time.
Summary
Stonepeak announced the completion of its acquisition of BMO Financial Group's Transportation Finance and Vendor Finance businesses in the United States and Canada, along with the launch of the independent company as Longview Capital Solutions, according to a Business Wire release. The announcement did not disclose the purchase price.
Longview describes itself as a leading commercial equipment finance platform serving customers across North America and one of the largest lenders to the commercial truck and trailer segment. The company provides customized financing across transportation, logistics, construction, agriculture, healthcare, technology, vendor finance and other essential industries. Its offering is delivered through Longview Transportation Finance and Longview Vendor Finance.
Gary Kempinski, Chief Executive Officer of Longview, said the rebranding reflects a mission to help customers move their businesses forward through fast, easy and secure financing, and that the company will pursue growth as an independent entity. Will Schleier, Senior Managing Director at Stonepeak, said the firm and management will continue investing in the company's capital solutions, technology and capabilities, citing its market position, diversified customer base, embedded OEM relationships and experienced leadership team.
Stonepeak describes itself as a leading alternative investment firm specializing in infrastructure, focused on defensive, hard-asset businesses, with target sectors including digital infrastructure, energy and energy transition, transport and logistics, and real estate. Per the release, customers will continue working with the same teams, systems, relationships and agreements. Under a transition services arrangement, BMO will continue to service and originate current and future loans on behalf of Longview during the transition period.
Longview describes itself as a leading commercial equipment finance platform serving customers across North America and one of the largest lenders to the commercial truck and trailer segment. The company provides customized financing across transportation, logistics, construction, agriculture, healthcare, technology, vendor finance and other essential industries. Its offering is delivered through Longview Transportation Finance and Longview Vendor Finance.
Gary Kempinski, Chief Executive Officer of Longview, said the rebranding reflects a mission to help customers move their businesses forward through fast, easy and secure financing, and that the company will pursue growth as an independent entity. Will Schleier, Senior Managing Director at Stonepeak, said the firm and management will continue investing in the company's capital solutions, technology and capabilities, citing its market position, diversified customer base, embedded OEM relationships and experienced leadership team.
Stonepeak describes itself as a leading alternative investment firm specializing in infrastructure, focused on defensive, hard-asset businesses, with target sectors including digital infrastructure, energy and energy transition, transport and logistics, and real estate. Per the release, customers will continue working with the same teams, systems, relationships and agreements. Under a transition services arrangement, BMO will continue to service and originate current and future loans on behalf of Longview during the transition period.
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