In February 2024, Anchorage announced the signing of its investment in ELF Group, with completion of the acquisition expected in the June quarter 2024, following approval from the Overseas Investment Office (OIO) in New Zealand.
ELF Group is located in New Zealand and provides business critical equipment and finance. ELF Group consists of two business units:
- Spiers – a high-growth asset finance business, predominantly finance leases with a small number of operating leases; and
- AB Equipment – a diversified equipment distribution, leasing and service platform, combined with nationwide infrastructure.
The business benefits from strong industry tailwinds as banks retreat from asset finance given capital requirements.
