MADISON, NJ – Peoples Bank, headquartered in Marietta, Ohio, announced that it has purchased North Star Leasing Company based in Burlington, Vermont. CrestMount Advisors represented Peoples Bank.
Since 1979, North Star Leasing has provided leasing solutions for commercial customers and suppliers in a variety of industries including automotive, healthcare, plumbing, pet supply and food services. North Star works with more than 10,000 equipment vendors, manufacturers and resellers to help end customers finance and access mission critical equipment. The company has a portfolio that is ranked in the top 125 by the Monitor Daily, a commercial finance industry publication.
People’s Bank is a wholly-owned subsidiary of Peoples Bancorp Inc., a diversified financial services holding company that offers a complete line of banking and related services through its subsidiaries. Peoples Bank has an established history of strong growth, financial stability and significant community impact since 1902.
“Steve and the team at CrestMount Advisors were invaluable to our identifying the opportunity, developing a winning proposal and executing this transaction,” said Chuck Sulerzyski, President and CEO of Peoples Bank. “They understood our needs, identified the right partner, and supported us through this process.”
“We are very proud of this transaction and believe that North Star represents an excellent fit with Peoples Bank and their growing business,” said Steve Sherman, Managing Director of CrestMount Advisors.
The sale closed April 1, 2021.