Post Road Equipment Finance

What Post Road Equipment Finance does

Post Road Equipment Finance (PREF) is a privately held, middle-market equipment finance platform headquartered in Westport, Connecticut, with an additional Connecticut office in Norwalk. Founded in June 2017 as Encina Equipment Finance and rebranded in December 2021 following a majority recapitalization by Benefit Street Partners (a Franklin Templeton subsidiary), the company originates senior secured, first-lien loans and leases secured by essential-use machinery and equipment for borrowers in the United States and Canada. The typical borrower profile is an established company with annual revenue greater than $150MM and EBITDA greater than $15MM, with more than 75% of the portfolio sourced from private equity-owned companies.

PREF's product suite spans Equipment Finance Lines ($5MM-$75MM per facility), Capital Leases (including $1 buyout structures), Operating Leases (FMV Tax leases and sale-leasebacks), Equipment Finance Agreements (direct loans), Progress Payment / Bridge Financing, and Sale-Leaseback Transactions. Transactions range from $5MM to $100MM+ with tenors up to 7 years and the ability to finance up to 100% of equipment cost. The platform finances a diverse set of collateral types across manufacturing, construction, healthcare, transportation, logistics, energy, and IT. Since inception the company reports over $3B funded, 500+ transactions, and 100+ customers, with several borrowers returning repeatedly for follow-on facilities (e.g., $185MM of cumulative liquidity to a single precision casting customer across three deals).

PREF operates a direct-origination model: a commercial team is split between a Capital Markets team (handling indirect originations and large-ticket participations) and a PE Sponsor Coverage team (sourcing deals from PE-owned portfolio companies). Revenue is generated primarily through interest income on funded leases and loans, supplemented by structuring and origination fees on transactions. GTM is relationship-driven rather than marketing-led, supported by a small but experienced senior team (including a President & CEO, CFO, CRO, and a CMO appointed in 2025 to lead a 'Commercial Excellence' initiative covering CRM, sales force effectiveness, and sales enablement), with Reed Smith LLP serving as outside legal counsel. The platform does not disclose any proprietary technology, AI/ML capabilities, or app products; its competitive position rests on balance sheet, talent, and sponsor distribution.

Name

Post Road Equipment Finance

Legal name

Post Road Equipment Finance, LLC

Website

https://postroadef.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Post Road Equipment Finance is a middle-market equipment finance platform, majority-owned by Benefit Street Partners (Franklin Templeton), that originates senior secured first-lien loans and leases of $5MM-$100MM+ on essential-use equipment for U.S. and Canadian borrowers, with more than 75% of its portfolio sourced from private equity-owned companies.

Ownership category

akta.pro rank

Product category

Equipment Finance & Leasing

NAICS

Commercial and Industrial Machinery and Equipment Rental and Leasing (5324), Sales Financing (52222)

SIC

Finance Lessors (6172)

akta.pro primary industry

Senior Secured Direct Lending (FSANADAA)

akta.pro secondary industries

Direct Lending — Senior Secured (First Lien) (FSAHAJAA), Equipment Financing / Leasing (Venture-backed) (FSANAIAE), Infrastructure & Project Finance Private Debt (FSANADAH)

Keywords

• Equipment finance
• Equipment leasing
• Commercial lending
• Sale-leaseback financing
• Middle market loans

Headquarters

HQ city

Westport

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Equipment Lease Interest and Payments: PREF provides loans and leases ranging from $5 million to over $100 million, generating revenue through interest income and lease payments on equipment financing transactions secured by essential-use machinery and equipment.
2. Transaction-Based Financing Fees: Revenue generated from structuring various financing transactions including capital leases, operating leases, sale-leasebacks, and equipment finance agreements. Fees earned on transaction origination and structuring.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Post Road Equipment Finance provides senior secured first-lien loans and leases ranging from $5 million to over $100 million, secured by essential-use machinery and equipment. Offerings include Equipment Finance Lines, Capital Leases, Operating Leases (including FMV Tax leases), Equipment Finance Agreements, Progress Payment (Bridge) Financing, and Sale-Leaseback Transactions. The company targets established middle-market and upper-middle market companies in the United States and Canada seeking to maximize liquidity and minimize weighted-average cost of capital.

Product overview

Post Road Equipment Finance operates as a single unified equipment finance platform offering secured loans and leases ranging from $5 million to over $100 million for essential-use machinery and equipment. The core product suite consists of Equipment Finance Lines, Capital Leases ($1 buyout/conditional sale), Operating Leases (FMV Tax leases and sale-leaseback), and Equipment Finance Agreements. Additional modules include Progress Payment (Bridge) Financing for purchase order through delivery phases, and Sale-Leaseback Transactions for liquidity generation from existing assets. The platform serves middle-market and upper-middle market borrowers with typical annual revenues exceeding $150MM and EBITDA above $15MM, financing a diverse range of collateral types including construction, manufacturing, healthcare, transportation, logistics, energy, IT, and packaging equipment across the United States and Canada.

Differentiator

Problem solved

Functional benefit

Products and services

• Equipment Finance Lines Senior secured first-lien loans or leases on new or existing essential-use equipment, with equipment finance lines ranging from $5 million to $75 million per transaction and available financing of up to 100% of equipment cost with tenors up to 7 years. Designed for middle-market and upper-middle market companies.
• Capital Leases Capital leases structured with $1 buyout or conditional sale options, allowing borrowers to own equipment at lease end. Targeted at middle-market borrowers acquiring essential-use equipment.
• Operating Leases Operating leases including FMV Tax leases and sale-leaseback arrangements that provide flexible equipment financing solutions for middle-market and upper-middle market borrowers.
• Equipment Finance Agreements (Loans) Loan products structured as Equipment Finance Agreements providing direct financing for equipment acquisitions by middle-market borrowers.
• Progress Payment (Bridge) Financing Bridge financing provided from purchase order issuance through equipment delivery and acceptance, supporting vendors and borrowers during procurement phases for essential-use equipment.
• Sale-Leaseback Transactions Generate liquidity from previously acquired assets through sale-leaseback transactions, enabling middle-market and PE-owned companies to unlock capital from existing equipment portfolios.

Quantifiable outcome

• Has provided $185MM of liquidity to precision casting manufacturer across four years and three transactions
• +1 more outcomes

Named customers5 records

Segments9 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Reed Smith LLPminorImplementation/ SI/ Consulting PartnerReed Smith LLP serves as legal counsel to PREF in financing transactions, providing legal representation and documentation services for lease facilities and other financing structures.

Scale indicators5 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• White Oak Global Advisors: Independent direct lender offering senior secured loans and asset-based financing to middle-market and PE-sponsored companies. Comparable customer profile, first-lien structure, and reliance on sponsor-driven deal flow.
• SLR Equipment Finance: Equipment finance platform focused on middle-market direct originations of capital and operating leases across diversified asset classes. Comparable to Post Road in deal size range, sponsor-driven customer base, and structured finance capabilities.
• Oakmont Capital Partners: Specialty equipment finance platform serving middle-market borrowers with structured leases and loans across construction, transportation, manufacturing, and healthcare verticals. Strong overlap with PREF's vertical mix and ticket-size profile.
• NXT Capital: Middle-market direct lender providing senior secured loans and equipment financings to PE-backed and corporate borrowers. Overlapping customer profile, ticket sizes, and senior-secured first-lien product mix make NXT a close structural peer to PREF.
• KLC Financial: Independent equipment leasing company originating capital and operating leases for middle-market businesses across diverse equipment categories. Comparable origination model, mid-market focus, and use of sale-leaseback and progress payment structures.
• Stonebriar Commercial Finance: Middle-market equipment finance and leasing platform founded by former GE Capital executives, offering large-ticket leases and loans across multiple asset types. Highly comparable to Post Road in target borrower (PE-backed and corporate middle-market), transaction structures, and ticket sizes.
• Amur Equipment Finance: Direct origination equipment finance platform (subsidiary of Amur Financial) focused on small- to mid-ticket leases and loans across diversified industries. Comparable product set and asset-based, middle-market orientation.

Broad incumbents

• Wells Fargo Equipment Finance: Bank-affiliated equipment finance arm offering capital and operating leases, loans, and sale-leasebacks across the full middle-market and large-corporate spectrum. Larger, balance-sheet-heavy incumbent competing with PREF for similar large-ticket opportunities.
• CIT Group (First Citizens Bank Equipment Finance): Large bank-affiliated equipment and asset-based finance platform serving middle-market and large corporate borrowers with capital leases, operating leases, and structured financings. Established incumbent providing direct competition to PREF's large-ticket, sponsor-backed deal mix.
• MidCap Financial: Apollo-affiliated middle-market direct lender providing senior secured loans, including structured equipment finance solutions, to PE-backed borrowers. Larger and more diversified than PREF but competes head-to-head on large-ticket, sponsor-backed financings.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/encinaequipmentfinance

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Post Road Equipment Finance