Apollo Expands Global Footprint with Beequip Acquisition
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Apollo's Strategic Move in the Equipment Leasing Sector
Apollo (NYSE: APO) has made headlines with its latest acquisition of Beequip, a prominent Dutch equipment leasing specialist. This acquisition, driven by investor capital from Apollo's Aligned Alternatives platform, demonstrates Apollo's commitment to expanding its influence in the European market.
The Growth Journey of Beequip
Established in 2015, Beequip has quickly risen to prominence in the Netherlands, becoming a key player in the equipment financing industry. The firm primarily caters to small and medium enterprises (SMEs) across Europe, boasting an impressive portfolio valued at €1.4 billion. With a robust annual originations figure of €700 million, Beequip provides tailored financing solutions encompassing both new and used heavy equipment, including transport vehicles, cranes, and maritime assets.
Strengthening Apollo's Position in Europe
This acquisition aligns perfectly with Apollo's European expansion strategy, enhancing the firm’s existing equipment finance platform launched in 2018 through Haydock Finance. By integrating Beequip into its ecosystem, Apollo aims to reinforce its capability in generating high-quality secured credit, which is crucial in today's competitive investment landscape.
Insights from Apollo Leaders
Kevin Crowe, a partner at Apollo's Financial Institutions Group, praised Beequip’s established reputation in the equipment financing sector. He emphasized Beequip's impressive underwriting skills and the strong team behind its success, which positions the firm well to serve a growing clientele of SMEs in the region.
Additionally, Mikhail Rychev from Apollo expressed enthusiasm about welcoming the Beequip team to their network, highlighting the importance of meeting SMEs' needs and fueling economic growth through accessible financing options.
A Partnership Focused on Growth and Innovation
The co-founders of Beequip, Giel Claes and Peter Loef, shared their pride in their team’s achievements and their excitement about joining forces with Apollo. They highlighted their innovative approach to financing, which includes a focus on user-friendly fintech systems, and expressed their commitment to maintaining strong risk management practices while navigating this new phase of growth.
A Bright Future Ahead
The transaction remains subject to customary closing conditions and is anticipated to finalize by the end of 2024. This strategic acquisition kicks off an exciting chapter for both Apollo and Beequip, as they come together to redefine the equipment financing landscape, particularly in the SMEs sector across Europe.
As of the first half of 2024, Apollo has reported remarkable debt origination volumes totaling $92 billion across all its platforms, and a comprehensive annual figure of $146 billion for the 12-month period concluding on June 30, 2024. This growth reflects Apollo's robust strategy as they seek to create value and secure advantageous credit opportunities across diverse sectors.
About Apollo
Apollo stands as a leading global alternative asset manager focused on delivering superior investment returns across a broad spectrum of assets, from investment-grade credit to private equity. With over three decades of experience, Apollo has developed a comprehensive asset management strategy that prioritizes yield, hybrid, and equity investments. Its retirement services segment, Athene, plays a vital role in assisting clients in achieving financial stability with a wide range of retirement savings products.
Frequently Asked Questions
What is Apollo's recent acquisition?
Apollo has acquired Beequip, a Dutch equipment leasing specialist, to enhance its European market presence.
How does Beequip support SMEs?
Beequip offers tailored financing solutions for heavy equipment, allowing SMEs to access necessary resources for growth.
When is the acquisition expected to close?
The transaction is subject to customary conditions and is anticipated to be completed before the end of 2024.
What is Apollo’s track record in debt origination?
In the first half of 2024, Apollo reported record debt origination volumes of $92 billion across its platforms.
How does Apollo align its investment strategies?
Apollo focuses on delivering excess returns while ensuring a diversified and secure credit generation strategy.
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