Posted April 07, 2020
Regions Bank has completed the acquisition of Ascentium Capital, an independent equipment finance lender serving small businesses.
Terms of the deal, announced today, were not disclosed.
Ronnie Smith, senior executive vice president and head of the Regions Corporate Banking Group, said the "strong combined team from Regions and Ascentium is committed to providing capital, flexibility and financial guidance to support and strengthen the small businesses that are so crucial to the economic health of the communities we serve.”
Based in Texas, Ascentium Capital provides financing, leasing and small business loans, benefiting equipment manufacturers and distributors, as well as other businesses. In January, the company reported $1.50 billion in funded volume, representing a 22.3 percent increase over last year.
