Equipment Finance & Leasing
Equipment leasing companies and finance providers funding commercial, healthcare, technology, and transportation assets.
- 4
- Verticals
Overview
Equipment Finance & Leasing covers companies funding commercial, healthcare, technology, and transportation equipment through loans and leases — including captive finance arms (auto and equipment manufacturers) and independent lessors. It is a large, relationship- and asset-driven business tied to capital investment.
Demand tracks business capital spending and equipment replacement cycles, and residual-value management and funding costs drive returns. It is a stable, fragmented market consolidating around scaled independents and bank-owned lessors.
Market snapshot
- Market size
- ~$134B
- Growth
- ~3.1%CAGR (2017–22, nominal)
- Companies
- ~2,416 firms
82% of firms have fewer than 20 employees: 1,982 micro-businesses, below most mandates.
- 20–99
- 18743%
- 100–499
- 8720%
- 500+
- 16037%
Sales-financing companies funding equipment, vehicles, and dealer inventory — captive finance arms (manufacturer and dealer floorplan) and independent lessors. The federal code is broad 'sales financing,' so it folds a large auto and dealer-finance component in with equipment proper. Demand tracks capital-equipment investment and vehicle sales; recurring lease and loan income drives the economics.
NAICS 522220. U.S. Census Bureau — 2022 Statistics of U.S. Businesses; U.S. Census Bureau — 2022 Economic Census.
Business model & economics
Revenue model
Lease and loan income plus residual-value gains
Key economics
- Revenue per firm
- $55,301,202
- Revenue per employee
- $1,299,876
- Employees per firm
- 39.7
- Recurring revenue
- Moderate–High
- EBITDA margin
- Spread- and residual-driven
- Capex intensity
- Low
lease portfolio income
Characteristics
- Scale-driven — payroll is only 8% of revenue; the cost base is assets, not headcount
- Deep strategic-buyer pool — 160 firms exceed 500 employees, so a scaled asset has trade buyers
- Demand tracks business capital spending.
- Residual-value management and funding costs drive returns.
- Captive finance arms and independent lessors.
NAICS 522220. U.S. Census Bureau — 2022 Statistics of U.S. Businesses; U.S. Census Bureau — 2022 Economic Census.
M&A deal context
Who’s acquiring
- Bank-owned & independent lessors
- Specialty-finance consolidators
- PE-backed leasing platforms
What’s driving deals
- Consolidation around scaled lessors.
- Capital-spending and replacement-cycle demand.
- Funding and residual-value dynamics.
Verticals in this segment
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