Crestmark acquired Allstate Capital, a provider of equipment leasing.

Allstate Capital will be a part of Crestmark’s leasing division, Crestmark Equipment Finance, and will report to Crestmark First Vice President Scot Lund, head of small-ticket leasing.

Allstate Capital is located in Pompano Beach, FL; the division will continue to work out of its current location to ensure the current strong quality of service.

This move will continue to broaden Crestmark’s equipment leasing market share. Allstate Capital provides equipment leasing and vendor programs nationwide for business equipment, fitness and gym equipment, computer equipment, medical/dental equipment, communications equipment, office equipment/ furniture, construction equipment, heavy equipment, beauty and tanning equipment.

“Bringing this respected small ticket leasing provider to the Crestmark family helps us round out our strategic plans for our leasing division’s continued growth — they were the right company at the right time,” said Mick Goik, Crestmark president and COO. “We’re looking forward to providing expanded help and growth for our clients together.”

“By becoming a part of Crestmark, we will benefit with industry-leading direct lending, allowing us to provide expanded product offerings and services to our client base,” said Alex Echevarria, managing member and co-founder of Allstate Capital. “The Crestmark team has a great reputation, and we’re excited about this next step. The expanded diversification of revenue streams along with a depth of commercial financial product offerings will greatly expand our opportunities.”