© 2016 The Texas Lawbook.
By Natalie Posgate
(Oct. 4) – Funds affiliated with private equity giant Warburg Pincus said Tuesday that they have agreed to purchase Kingwood, Texas-based Ascentium Capital, the third largest private-independent equipment finance company in the U.S with assets worth more than $1.1 billion.
Ascentium Capital Deputy General Counsel Ben Earthman hired an army of lawyers from Vinson & Elkins to handle the sale of the firm. Houston V&E partner Rell Tipton and Houston associates James Garrett and Elizabeth Bellows led the corporate deal team. They received assistance from Houston associate Stephanie Coco.
The V&E deal team also included Houston partners Stephen Jacobson, Tom Wilson and Peter Mims; Dallas partner Todd Way; Houston associate Kristy Fields; Dallas associates Julia Pashin, Gina Hancock, Craig Zieminski and Will Russ; and attorneys from the firm’s London and Washington, D.C. offices.
Ascentium Capital offers a suite of financial products that cater to the capital needs of small businesses. It’s also a leading provider of vendor financing, which entails partnering with manufacturers, distributors, resellers and franchises to finance the equipment and technology purchases of their small business customers.
Ascentium Capital’s financial advisor in the deal was Goldman Sachs. Warburg Pincus turned to Cleary Gottlieb Steen & Hamilton for legal advice and Keefe, Bruyette & Woods for financial advice.
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