Troy-based bank Crestmark today announced the acquisition of Allstate Capital, a Florida-based provider of equipment leasing. The company will now be part of Crestmark’s leasing division, Crestmark Equipment Finance Inc., a wholly owned subsidiary of Crestmark and report to Scot Lund, Crestmark’s first vice president and head of small ticket leasing.
“Allstate Capital is impressive in what they have built,” says Lund. “This will be a great addition to our leasing division, and I look forward to being a part of the strategic growth of Crestmark’s small ticket leasing programs.”
The move will continue to broaden Crestmark’s equipment leasing market share. Allstate Capital provides equipment leasing and vendor programs nationwide for equipment for the business, gym and fitness, dental, computer, communications, office, construction, and beauty and tanning industries.
“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,” says Mick Goik, Crestmark’s president and COO. “We're looking forward to providing expanded help and growth for our clients together.”
Allstate Capital is located in Pompano Beach, Fla., and the division will work out of its current location to maintain its quality of service.