Elevex Capital Expands Multi-Million-Dollar Credit Facility with Woodforest National Bank

WESTLAKE, Ohio, Nov. 10, 2026 /PRNewswire/ -- Elevex Capital, LLC ("Elevex"), a specialty commercial equipment finance company, today announced that it has expanded its multi-million-dollar credit facility with Woodforest National Bank. The expanded facility strengthens Elevex's capital base and gives Elevex a diversified funding platform to support continued origination growth.

The increased commitments reflect continued confidence in Elevex's platform and long-term vision as the company expands its presence in the equipment finance industry.

"At Woodforest, we are committed to building long-term relationships with strong management teams and investment sponsors that support the growth of middle market businesses. Our partnership with Elevex Capital is a great example of that commitment," said Trey McCord, Executive Vice President, and Head of Houston Middle Market Banking at Woodforest National Bank. "We are excited to expand our financing relationship and support Elevex as it continues to scale its equipment finance platform."

"We are grateful to Woodforest for their confidence and continued support," said Spencer Richman, Interim Chief Executive Officer of Elevex. "This expanded facility is a strong endorsement of our team, our credit discipline and our plan. With this added capacity, we are well positioned to keep growing alongside our customers and partners while building a durable, profitable business."

Richman, who previously served as President and Chief Operating Officer of Elevex, was appointed Interim Chief Executive Officer in October, succeeding Jeffry D. Elliott. Richman brings 37 years of equipment finance experience and a deep understanding of the company's customers, partners and operations. Elliott, Elevex's founding Chief Executive Officer, led the company's launch and built the team, technology platform and capital partnerships on which the company continues to build.

Elevex is backed by Sallyport, a Houston-based private equity firm focused on supporting high-growth companies across a range of industries.

"Elevex has built a strong foundation and is entering an exciting new phase of growth," said Kyle Bethancourt, Managing Partner of Sallyport. "We are encouraged by the team's commitment to its clients and partners and its ability to capitalize on emerging opportunities. Sallyport remains a dedicated partner as Elevex continues to scale and create lasting value."

About Elevex

Launched in 2025 and based in Westlake, Ohio, Elevex is an independent, commercial equipment lender that delivers fast, flexible financing solutions to businesses across various industries. With quick approvals and streamlined processes, Elevex helps businesses access essential equipment without the typical hurdles of traditional lenders. Elevex is committed to empowering businesses with efficient financing options to fuel growth. For more information, visit www.elevexcapital.com.

SOURCE Elevex