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Regions Bank Acquires Ascentium Capital

April 02, 2020, 07:25 AM
Filed Under: Mergers & Acquisitions

Regions Bank announced it has completed the acquisition of Ascentium Capital, an independent equipment finance lender serving small businesses.

“We are pleased to welcome Ascentium Capital teammates and small business customers to Regions,” said Ronnie Smith, Senior Executive Vice President and Head of the Regions Corporate Banking Group. “The strong combined team from Regions and Ascentium is committed to providing capital, flexibility and financial guidance to support and strengthen the small businesses that are so crucial to the economic health of the communities we serve.”

Equipment Finance Advisor reported in late February on the companies reaching an agreement for Regions Bank to acquire Ascentium Capital from Warburg Pincus, a global private equity firm focused on growth investing.

Ascentium Capital provides financing of essential-use equipment for small business customers through a technology-enabled model that delivers same-day credit decisions and funding. Ascentium Capital’s seasoned management team combined with its proprietary underwriting technology platform has delivered strong performance since its inception.

Regions Financial Corporation, with $126 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,400 banking offices and 2,000 ATMs.

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