Crestmark Acquires TIP Capital
Crestmark announced it acquired TIP Capital’s equipment leasing and asset management business. The wholly owned subsidiary of Crestmark Bank is named “Crestmark Equipment Finance, a Crestmark Bank Company”; however during a transition period, the division will continue to operate under the “TIP Capital” name and out of its current locations at this time to ensure continued strong service quality.
This move will continue to broaden Crestmark financial solutions into the equipment leasing space. TIP Capital is one of the leading independent providers of equipment finance and asset management solutions, with a particular expertise in providing flexible vendor financing programs.
“We are glad to welcome the TIP family into the Crestmark family,” said W. David Tull, chairman and CEO of Crestmark. “Together we will be able to offer more to all of our stakeholders.”
“Getting this to the finish line has been a lot of work for both teams, and I appreciate all they have done,” said Mick Goik, Crestmark president. “Now comes the real fun.”
“We are excited to take the next steps in our growth with Crestmark,” said Scott Grady, TIP Capital president. “This is an exciting time for us and our customers.”