ePlus Inc. disclosed the completion of the sale of its domestic subsidiaries comprising the majority of the Financing Business to Marlin Leasing Corporation.
The Transaction involved the sale of 100% of the membership interests of Expo Holdings, LLC, a wholly-owned subsidiary of ePlus.
As a result of the transaction, ePlus conducted an internal reorganization transferring ownership of the Operating Subsidiaries to HoldCo.
Transaction Details
Buyer paid initial consideration of approximately $180.1 million in cash for the Financing Business segment.
Post-Closing Adjustments
Initial Consideration subject to post-Closing adjustment process based on the assets' book value.
Contingent Receivables
ePlus may earn additional payments based on post-Closing performance of the HoldCo Group.
- The sale of the Financing Business segment resulted in a net cash proceeds of $156.7 million for ePlus Inc.
- The Transaction marks a strategic shift in ePlus's business structure and focus.
ePlus Inc.'s sale of its Financing Business segment represents a significant milestone in its corporate strategy, enabling a strategic realignment towards future growth opportunities.