Stonepeak, an alternative investment firm specializing in infrastructure and real assets, and BMO Financial Group, the eighth largest bank in North America by assets, has announced that they have reached an agreement whereby Stonepeak will acquire BMO’s Transportation Finance and Vendor Finance businesses. As part of the transaction, BMO will reinvest a 19.9 percent minority interest in the business.
Based in Irving, Texas, BMO Transportation and Vendor Finance offers customized financing solutions for a wide array of transportation assets and equipment, including trucks, trailers and specialized equipment for agriculture, construction and other end markets. It is one of the largest lenders to the commercial truck and trailer segment in North America, with more than 700 employees and operations across the United States and Canada. Upon closing of the transaction, the business will continue to be led by Gary Kempinski, head of transportation finance and vendor finance at BMO
