Credit Agricole Leasing & Factoring Buys Equipment Management Group Olinn

By Dominic Chopping

Credit Agricole Leasing & Factoring said late Tuesday that it has acquired equipment-management group Olinn from private-equity firm Argos Wityu.

Olinn specializes in the management of professional equipment and offers financing solutions as well as associated services such as fleet management, reconditioning, and equipment resale.

Since creation, Olinn has financed more than 2 billion euros ($2.32 billion) in equipment, both in the IT and telecommunications sector, as well as in rolling stock equipment, Credit Agricole Leasing & Factoring said.

"Olinn is a long-term partner of Credit Agricole Leasing & Factoring, which refinances nearly 20% of the equipment proposed by Olinn to its customers," the company said.

"By acquiring Olinn, Credit Agricole Leasing & Factoring will expand its range of offers provided to Credit Agricole group customers with an equipment financing and management solution, which covers the entire life cycle of the equipment," it said.

Credit Agricole Leasing & Factoring expects the acquisition to generate a return on investment of more than 10% by 2025.

Closing is expected at the end of 2021, subject regulatory approval.

Financial details weren't disclosed.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

November 10, 2021 02:13 ET (07:13 GMT)

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