Copley Equity Partners has acquired a majority stake in Burlington, Vermont-based North Star Leasing, a provider of equipment financing solutions for businesses. No financial terms were disclosed. Ernst & Young served as financial adviser to Copley Equity Partners on the deal with Perkins Coie LLP providing legal counsel.
BOSTON & BURLINGTON, Vt.–(BUSINESS WIRE)–Copley Equity Partners, a private investment firm and single-family office, today announced that it has completed a majority investment in North Star Leasing, a provider of equipment financing solutions for businesses in a variety of industries. Mr. Daniel Feeney, North Star Leasing’s CEO and President, will continue to lead the Company.
Financial terms of the transaction were not disclosed.
Founded in 1979 and headquartered in Burlington, VT, North Star Leasing provides specialized lease solutions for customers across numerous industries including Automotive, Healthcare, Pet-Supply, and Restaurant. North Star works with thousands of equipment vendors, manufacturers, and resellers to help end customers finance and access mission critical pieces of equipment. In recent years, North Star has grown its asset base by a 20% annualized growth rate and nearly quadrupled its workforce.
“We’re thrilled to have Copley Equity Partners join the North Star team as we continue on our aggressive growth plan,” said Dan Feeney, CEO of North Star Leasing. “The availability of capital through Copley will allow us to take advantage of the much fragmented industry and help bring our business to an exciting new level.”
“North Star Leasing has experienced tremendous growth and has become one of the leading companies in the micro-ticket leasing sector,” said Peter Trovato, Managing Partner at Copley Equity. “We’re proud to be partnering with Dan Feeney and the entire North Star team to help support their expansion for many years to come.” Copley will be represented on North Star Leasing’s Board of Directors by Peter Trovato, Andrew Miller and Matthew Bryson.
Ernst & Young acted as the financial advisor to Copley Equity Partners and Perkins Coie LLP provided legal counsel. Colonnade Securities LLC acted as the transaction advisor to North Star Leasing and Downs Rachlin Martin PLLC provided legal counsel.
About North Star Leasing Company
Founded in 1979, North Star Leasing is a provider of equipment financing solutions for businesses in a variety of industries. For over 38 years, North Star Leasing has focused exclusively on helping businesses grow by providing lease financing for mission critical pieces of equipment. North Star is a direct funder and takes a personalized approach to each application. www.northstarleasing.com
About Copley Equity Partners
Copley Equity Partners is a private investment firm with offices in Boston and Denver. Copley partners with established lower middle-market businesses with significant growth prospects. Copley invests in companies across a broad range of sectors and is comfortable in both majority or minority ownership positions. Copley invests out of an evergreen, single-family office, capital base making the firm agnostic to the standard private equity fundraising cycle. Copley’s patient and flexible capital base allows the firm to focus on providing each portfolio company significant support post investment. www.copleyequity.com