LAKE FOREST, Ill. and SCOTTSDALE, Ariz., Oct. 29, 2019 /PRNewswire/ -- Kingsbridge Holdings LLC, ("Kingsbridge") announced today the acquisition of Technology Finance Corporation ("TFC"). Terms were not disclosed.
Founded in 2004, TFC is a fast-growing technology leasing company that provides financing for information technology equipment and software to businesses throughout the United States. TFC funds over $125 million of IT infrastructure leasing/finance transactions annually, sourced through a network of vendor relationships, value-added resellers, software partners, and service providers. Through its application-only processing, and customized and flexible offers, TFC provides its partners and customers with a broad range of leasing and financing solutions for data center components, software (including cloud-based SAAS solutions), managed services, IT consulting and training expenditures, and laptops, tablets, monitors, printers, copiers and scanners.
"TFC represents a strong strategic addition to our existing platforms, enabling Kingsbridge to expand our offerings to the small and mid-sized business segments of the leasing market," notes Dan Flagstad, co-founder and Co-Chief Executive Officer of Kingsbridge. "Kevin Pruett and Jeff Miller have built an outstanding platform that provides outstanding service to their vendor partners and lessee customers, and we are excited to welcome the TFC team to our company."
Kevin Pruett, co-founder and CEO of TFC shared his perspective: "This combination brings together two firms that operate in distinct but highly complementary channels, yet share common values and relationship-based approaches to partners and customers. We look forward to contributing to Kingsbridge's continued growth and success."
Colonnade Securities LLC acted as exclusive financial advisor to Technology Finance Corporation regarding this transaction.
About Technology Finance Corporation
Technology Finance Corporation ("TFC") is a proven provider of information technology infrastructure leasing and financing to small and mid-sized businesses throughout the United States. The company was founded in 2004 and is based in Scottsdale, Arizona with locations in Huntington Beach and Encinitas, California; Atlanta, Georgia; and Philadelphia, Pennsylvania.
About Kingsbridge Holdings LLC
Kingsbridge Holdings is a leading independent lessor of information technology, industrial, healthcare, and commercial essential-use equipment to a diverse set of high credit quality customers. Kingsbridge, majority-owned by TZP Group, provides intelligent, independent financing solutions and asset management expertise to help customers make informed decisions regarding equipment acquisition. With the view that every transaction requires customized attention, the firm's ability to bring superior structuring and transaction management offerings to its customers has made Kingsbridge a go-to source for leasing and financing solutions. Kingsbridge is based in Lake Forest, Illinois. For more information, please visit www.kingsbridgeholdings.com.
About TZP Group
TZP Group, a private equity firm with $1.6 billion raised since inception across its family of funds, is focused on investments in business and consumer services companies. Founded in 2007, TZP targets companies with solid historical performance and sustainable value propositions and aims to be a "Partner of Choice" for business owners and management teams. TZP seeks to invest primarily in closely-held, private companies where the owners desire to retain a significant stake and partner with an investor with complementary operating and financial skills to accelerate company growth, increase profitability, and maximize the value of their retained stake. TZP leverages its investment professionals' operating and investment experience to provide strategic and operational guidance and is dedicated to long-term value creation. For more information, please visit www.tzpgroup.com.
SOURCE Kingsbridge Holdings, LLC