Albany Business Review: Pioneer makes $140M acquisition as it starts a new specialty finance division
4.27.26
"Pioneer has acquired an equipment financing company based in Western New York, giving it access to small-business borrowers across the country as it stands up a new specialty finance division.
The Colonie-based community bank announced Friday that it has acquired Targeted Lending Co. LLC, which is based in Williamsville, a suburb of Buffalo.
The all-cash deal is valued at $140 million, subject to performance-based adjustments over three years, Pioneer said.
'Ever since we did our initial public offering in 2019, we were looking for opportunities to leverage that capital," said Pioneer President and CEO Tom Amell. "This is a perfect opportunity for us to put some money at play.'"
Read the full story covered by Luke Nathan in the Albany Business Review here.