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BMO Announces Agreement to Sell Its Transportation and Vendor Financing Businesses
Stonepeak will buy the assets for cash and an earnout, while BMO keeps a 19.9% stake in the $14.5 billion portfolio.
- On Monday, BMO Financial Group announced an agreement to sell its Transportation Finance and Vendor Finance businesses to Stonepeak, with the deal expected to close in the fourth quarter of 2026.
- As part of the transaction, BMO will reinvest a 19.9% minority interest in the business, which operates from Irving, Texas, employing over 700 people across the United States and Canada.
- Gary Kempinski, Head of Transportation Finance & Vendor Finance at BMO, will continue leading the business, while Stonepeak manages approximately $88 billion in assets under management.
- The transaction includes asset-based financing from PGIM, the global asset management business of Prudential Financial, Inc., and bank financing with Bank of America as Lead Financing Arranger.
- Will Schleier, Senior Managing Director at Stonepeak, cited the firm's decades of sector expertise, as BMO remains North America's eighth-largest bank serving approximately 13 million clients.
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22 Articles
The Toronto Star+9 Reposted by 9 other sources
BMO announces agreement to sell its transportation and vendor financing businesses
TORONTO - BMO Financial Group says it signed an agreement with U.S.-based Stonepeak for the sale of the bank's transportation and vendor finance businesses.
·Toronto, Canada
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Coverage Details
Total News Sources22
Leaning Left7Leaning Right1Center9Last UpdatedBias Distribution53% Center
Bias Distribution
- 53% of the sources are Center
53% Center
L 41%
C 53%
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