Liberty Commercial Finance

What Liberty Commercial Finance does

Liberty Commercial Finance operates Wingspire Equipment Finance, a direct equipment financing platform that lends to private equity-owned middle market companies in capital-intensive industries across the United States and Canada. The company finances new and used equipment acquisitions, sale-leaseback transactions, equipment lines of credit, and large complex deals ranging from $5 million to over $100 million, targeting sectors including technology services, manufacturing, aerospace, food and beverage, and aviation services. Its primary go-to-market is enterprise field sales executed by a small dedicated team of finance professionals who work directly with PE sponsors and portfolio company CFOs, supported by industry case studies, a quarterly fact sheet, and industry event participation such as DealMAX 2026.

The business model is direct lending: revenue is generated through interest income and fees on equipment financing arrangements, with pricing tailored per transaction based on credit profile, equipment type, and term structure rather than published rate cards. The company is a portfolio company of Blue Owl Capital Corporation (NYSE: OBDC), backed by funds managed by Blue Owl Capital (NYSE: OWL), an asset manager with over $315 billion in AUM. This affiliation provides institutional capital capacity that underwrites the platform's ability to commit large tickets with certainty of close. In May 2025, the company secured a $350 million credit facility from Bank of America and Wells Fargo, which materially expanded its funding base beyond its parent relationship. Cumulative funded volume exceeds $3 billion across more than 1,000 financing schedules and 450+ unique obligors. Leadership comprises Eric Freeman as Founder and CEO, Marcelo Sarago as CIO, and Stephen Peterson as Chief Credit Officer.

Name

Liberty Commercial Finance

Legal name

Wingspire Equipment Finance

Website

https://libertycommercial.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Liberty Commercial Finance, operating as Wingspire Equipment Finance, is a direct equipment lender to PE-owned middle market companies across the US and Canada, financing transactions of $5 million to over $100 million and backed by Blue Owl Capital.

Ownership category

akta.pro rank

Product category

Commercial Equipment Financing

NAICS

Sales Financing (52222), Credit Intermediation and Related Activities (522)

SIC

Finance Lessors (6172), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Large-Cap / Sponsor Finance Direct Lending (FSANADAJ)

akta.pro secondary industry

Equipment Financing / Leasing (Venture-backed) (FSANAIAE)

Keywords

• Equipment financing
• Commercial lending
• Sale-leaseback financing
• Middle market capital
• Equipment leasing solutions

Headquarters

HQ city

Tustin

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Equipment Financing: The company generates revenue through financing equipment acquisitions for middle market companies, including new and used equipment purchases, sale-leaseback arrangements, and lines of credit. Transactions range from $5 million to over $100 million. Revenue is derived from interest income and fees associated with financing arrangements.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Liberty Commercial Finance, operating as Wingspire Equipment Finance, is a direct lender that provides equipment financing solutions to private equity-owned middle market companies in capital-intensive industries. Financing ranges from $5 million to over $100 million for new and used equipment acquisitions, sale-leaseback transactions, equipment lines of credit, and large-transaction deals across the US and Canada.

Product overview

Liberty Commercial Finance operates Wingspire Equipment Finance as a unified equipment financing platform offering multiple product types including sale-leaseback, lines of credit, and large transaction financing. The platform serves private equity firms and their portfolio companies with flexible term structures, streamlined credit processes, and competitive rates. Financing ranges from $5 million to over $100 million, targeting middle market companies in capital intensive industries across technology services, manufacturing, aerospace, food and beverage, and aviation services sectors.

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial Equipment Financing Direct lending for new and used equipment acquisitions by private equity-owned middle market companies in capital-intensive industries across the US and Canada, with financing ranging from $5 million to over $100 million.
• Equipment Sale-Leaseback Sale-leaseback financing solution enabling clients to monetize existing owned equipment to generate liquidity and working capital while continuing to use the assets.
• Equipment Line of Credit Pre-approved revolving equipment line of credit providing flexible access to capital for ongoing equipment acquisitions and CapEx needs.
• Large Transaction Equipment Financing Equipment financing for complex, high-value transactions exceeding standard financing thresholds, supporting sophisticated capital structures for large middle market deals.
• Private Equity Firm Equipment Financing Equipment financing program tailored for private equity firms to fund equipment needs of their portfolio companies, including sponsor-aligned deal structuring.
• Portfolio Company Equipment Financing Equipment financing services designed for private equity portfolio companies seeking capital for equipment acquisitions, expansions, and operational investments.
• Capital Markets Financing Capital markets financing solutions and structured equipment finance offerings for sophisticated investors and complex deal structures.

Quantifiable outcome

• 450+ unique obligors funded
• +2 more outcomes

Named customers8 records

Segments6 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• White Oak Global Advisors: White Oak Global Advisors is a private credit and direct lending firm that provides asset-based loans, equipment financing, and term debt to middle market companies. Its sponsor-finance and asset-based lending capabilities overlap with Wingspire's middle market equipment finance model.
• First Citizens Bank (CIT Equipment Finance): First Citizens acquired CIT Group, whose Equipment Finance division serves as a large-scale bank-affiliated equipment lessor to middle market and large corporate clients. It competes with Wingspire on larger transactions and sale-leaseback deals as part of a broader banking franchise.
• Wells Fargo Equipment Finance: Wells Fargo Equipment Finance is a major bank-affiliated equipment finance provider offering loans, leases, and sale-leaseback solutions to middle market and large corporate clients. It is a broad incumbent competitor for Liberty/Wingspire's PE-backed deal flow.
• DLL: DLL is a global vendor and direct equipment finance company serving equipment manufacturers, dealers, and end-users across multiple industries. Its industry-agnostic approach and large-ticket capability make it a comparable broad incumbent in the middle market equipment finance space.
• Siemens Financial Services: Siemens Financial Services is the captive financing arm of Siemens AG, providing equipment financing and leasing to industrial and technology customers. It overlaps with Wingspire in industrial, manufacturing, and technology equipment financing at large ticket sizes.

Direct peers

• Marlin Business Services: Marlin Business Services (now under PE ownership) originates equipment leases and loans to small and mid-sized businesses across diverse industries. Its equipment finance focus and middle market orientation are closely aligned with Wingspire's strategy.
• SLR Equipment Finance: SLR Business Credit / SLR Equipment Finance provides asset-based and equipment financing solutions to middle market companies, including sponsor-backed borrowers. Its product set, ticket sizes, and target customer base overlap directly with Wingspire.
• Ascentium Capital: Ascentium Capital is a direct equipment finance lender serving middle market and PE-backed businesses with leases and loans across multiple verticals. It is among the closest direct competitors to Liberty/Wingspire in the equipment finance space.
• GreatAmerica Financial Services: GreatAmerica is a large independent equipment finance company providing leases and loans to middle market businesses across multiple verticals. Its industry-agnostic equipment leasing model and vertical diversification make it highly comparable to Liberty/Wingspire.
• North Star Leasing: North Star Leasing is an independent equipment finance company providing leases and loans to middle market businesses. Its direct origination model and focus on capital equipment financing make it a direct comparable to Wingspire Equipment Finance.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks1 record

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/wingspire-equipment-finance
• Xx.com/libertycommfin

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds5 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Liberty Commercial Finance