EPlus Inc. divests U.S. financing business, focusing on tech solutions.

By Bobby Samwell • Monday, June 23 15:25 • Permanent Link

EPlus Inc. (NASDAQ NGS: PLUS) has recently announced the sale of its domestic subsidiaries comprising its U.S. financing business to PEAC Solutions, a portfolio company of HPS Investment Partners, LLC. The divestiture aims to position EPlus as a pure-play technology solutions provider.

This move provides EPlus with incremental capital to focus on growth and acquisition opportunities in the technology and services space. The company aims to strengthen its ability to invest in high growth areas such as AI, cybersecurity, data center modernization, high-performance networking, and related consulting and managed services. Additionally, the divestiture provides EPlus with the flexibility to accelerate plans around expanding its footprint and customer base.

EPlus was represented by Macquarie Capital (USA) Inc. and K&L Gates LLP in this transaction. The closing of the deal is expected to occur within the next sixty (60) days, subject to various terms and conditions described in the company’s form 8-K filed with the Securities and Exchange Commission.

PEAC Solutions, the acquirer, is a leading multinational asset finance platform specializing in providing innovative finance solutions to equipment manufacturers, distributors, and dealers across North America, Europe, and the United Kingdom.

This strategic move reflects EPlus' commitment to reimagining the role it can play for its customers, partners, and shareholders, and to continue building its solution and services capabilities via organic and inorganic growth.

As a customer-first, services-led, and results-driven industry leader, EPlus offers a full portfolio of solutions, including artificial intelligence, security, cloud and data center, networking and collaboration, as well as managed, consultative, and professional services. With more than 2,100 employees and a presence in the United States, United Kingdom, Europe, and Asia-Pacific, EPlus is well-positioned to navigate business challenges across multiple industries.

This divestiture marks a significant shift for EPlus, as it focuses on becoming a dedicated technology solutions provider, aiming to capitalize on growth opportunities and expand its capabilities in the technology and services space. Following these announcements, the company's shares moved 2.12%, and are now trading at a price of $73.31. For more information, read the company's full 8-K submission here.

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