M&A Activity Expected to Improve in 2026

In a recently published article in the Monitor, the Alta Group’s Jim Jackson offers a detailed account of last year’s M&A activity, which despite the industry’s high expectations at the onset of 2025 led to somewhat muted results. Jackson also shares his thoughts as to how M&A activity will shake out in 2026.

The article highlights the specifics on several notable equipment finance transactions that closed throughout 2025, including Dext Capital’s acquisition of Honour Capital’s equipment finance team and portfolio; North Mill Equipment Finance’s acquisition of Pawnee Leasing Corporation; and Onset Financial’s acquisition of Channel and its subsidiaries, to name a few.

Jackson further notes that more than a handful of service providers in the equipment finance industry merged in 2025 to expand their service offerings, increase their customer base, or gain market share.  Those mergers include Concord Servicing’s acquisition of Orion First and Solifi’s acquisition of both Leasepath and DataScan.

Setting 2025 aside, Jackson notes that existing economic conditions and the industry as a whole point to a more vibrant M&A environment in the current year. In particular, he points to the industry’s continued strong performance with record-high originations, low delinquencies, and overall profitability in 2025. Adding to this optimistic, albeit modest view, are today’s relatively low unemployment rate and the favorable tax and regulatory environment.

Yet Jackson observes, potential headwinds still exist that may challenge M&A activity in 2026. Those challenges include the ongoing Russia-Ukraine war now in its fourth year, military operations in the Middle East, other global tensions, and the U.S. Supreme Court’s intervention on the enforceability of the administration’s tariffs on imports.

On the brighter side, Jackson notes that the appointment of a Fed chair this spring could lead to a more aggressive rate-cut policy, spurring the economic, and in turn, M&A activity.

In the end, the Alta Group has reasons to expect this year will prove to be more favorable for M&A activity citing that several equipment finance companies are being offered for sale, banks are showing a renewed interest in the space, and other qualified buyers are expressing interest in acquiring qualified target companies.

Read the full Monitor article here.

If your company is looking for a comprehensive understanding of M&A activity in the U.S. equipment finance market, including the potential headwinds and emerging opportunities, Alta advisors are ready to help. Our team of industry professionals brings decades of experience to new entrants and established companies alike, with concrete, actionable advice.

James (Jim) Jackson is Co-CEO of The Alta Group and leader of its Merger and Acquisition Advisory Practice.  Alta’s M&A practice provides buy-side and sell-side advisory services, locates debt and equity financing, provides valuations, and performs other related services to the equipment finance industry.  Jackson has over 35 years’ experience in the equipment leasing and finance industry and has served as a senior financial executive at MicroFinancial/TimePayment, Deutsche Financial Services, AT&T Capital Corporation – Leasing Services, and Signal Capital Corporation. He is a past president of the National Equipment Finance Association and can be reached at [email protected].