WESTLAKE, Ohio, Jan. 13, 2026 /PRNewswire/ — Elevex Capital, LLC (“Elevex”), an independent commercial equipment finance company, today announced it has closed on a forward flow agreement with TPG, a leading global alternative asset management firm. The agreement provides Elevex access to $1 billion in capital, enabling the company to originate and fund larger transactions with a dedicated capital partner.
“Our agreement with TPG positions Elevex as a long-term capital partner to entrepreneurs and operators, enabling us to support more businesses through their next stage of growth,” said Jeffry D. Elliott, CEO of Elevex. “As more banks exit the leasing market, we are well-positioned to fill the void and compete with larger lenders more effectively in the broader equipment finance market.”
The forward flow partnership with TPG enables Elevex to originate mid- and large-ticket equipment financing deals and sell them at a repeatable, scalable pace, leveraging a tech-enabled origination engine for capital efficiency. This will ensure consistent take-out capital and enhanced liquidity.
“We are proud to partner with Elevex to provide equipment financing that enables businesses nationwide to acquire mission-critical assets and drive growth,” said Aaron Ong, Partner, Asset Based Finance at TPG. “This partnership reflects our focus on working with high-quality originators to deliver scalable, dependable capital solutions amid bank retrenchment, while also gaining differentiated access to equipment financing transactions.”
Elevex is backed by Sallyport, a Houston-based private equity firm focused on supporting high-growth companies across a range of industries.
“This exciting new partnership shows that Elevex is market-validated and will serve as one of very few true small-to-large ticket independent finance platforms. The team is ready to fund deals and eager to take advantage of this tremendous opportunity,” said Ryan Howard, Co-Founder and Managing Partner of Sallyport.
BayCrest Partners served as placement agent to Elevex for the transaction, assisting in the structuring and execution of the partnership with TPG.
About Elevex
Launched in 2025 and based in Westlake, Ohio, Elevex is an independent, commercial equipment lender that delivers fast, flexible financing solutions to businesses across various industries. With quick approvals and streamlined processes, Elevex helps businesses access essential equipment without the typical hurdles of traditional lenders. Elevex is committed to empowering businesses with efficient financing options to fuel growth. For more information, visit www.elevexcapital.com.
About TPG
TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with $286 billion of assets under management and investment and operational teams around the world. TPG invests across a broadly diversified set of strategies, including private equity, impact, credit, real estate, and market solutions, and our unique strategy is driven by collaboration, innovation and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities. For more information, visit www.tpg.com.
About Sallyport
Founded in 2023 and based in Houston, Texas, Sallyport is an investment firm dedicated to providing capital and leadership to growing companies across various industries. As a value-add partner, they collaborate closely with management teams to grow and build thriving businesses. Their mission is to create enduring value for investors, companies, and communities. For more information, visit www.sallyportinvestments.com.
About Bay Crest Partners LLC (“BayCrest”)
BayCrest is a full-service agency broker dealer with 30+ years experience in FICC & Equities markets. Our BayCrest Merchant team is a premier provider of capital solutions and fundraising services to companies, alternative asset managers and some of the largest single and multi-family offices globally, having raised more than $2 billion since inception.
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SOURCE Elevex
