March 31, 2021
Peoples Bank acquired the assets of North Star Leasing of Burlington, VT from Copley Equity Partners and management.
Founded in 1979, North Star Leasing provides specialized lease solutions for vendors and commercial customers across multiple industries, including automotive, plumbing, healthcare, pet supply and foodservice. North Star Leasing works with more than 10,000 equipment vendors, manufacturers and resellers to help customers finance and access equipment. With a portfolio ranked 119th by Monitor, North Star Leasing has grown its originations 18% annually from 2014 to 2020. North Star Leasing has 42 employees.
“We are excited about North Star Leasing becoming part of Peoples Bank and our being able to offer equipment leasing to our commercial clients,” Chuck Sulerzyski president, and CEO of Peoples Bank, said. “There’s a strong team in place at North Star Leasing committed to serving clients and driving future growth. North Star Leasing’s culture and commitment to community is a natural fit with Peoples Bank.”
“We are thrilled to have the opportunity to join forces with one of the best community banks in America,” Dan Feeney, CEO of North Star Leasing, said. “We have an aggressive growth plan, and being part of Peoples Bank will provide us with the opportunity to grow our business to new levels.”
Colonnade Securities LLC acted as financial advisor to Peoples Bank.
About Peoples Bank
Headquartered in Marietta, Ohio since 1902, Peoples Bank, a wholly owned subsidiary of Peoples Bancorp Inc. (NASDAQ: PEBO), has 76 bank branches throughout Ohio, West Virginia, and Kentucky. It is a diversified holding company with $4.8 billion in total assets as of December 2020 and over 900 associates.
About North Star Leasing
North Star Leasing of Burlington, Vermont is a small and micro ticket direct funder/provider of equipment financing. It has 41 years of experience in leasing mission critical equipment to small to medium sized companies across the nation. North Star partners with manufacturers and distributors of capital equipment to further its expansion. https://www.northstarleasing.com/