PEAC Solutions has disclosed the forthcoming retirement of Tibor Horvath from his role as the senior vice-president of the company’s construction, transportation, and industrial (CT&I) division.

With a career in equipment finance spanning more than 40 years, Horvath will be stepping down from his full-time position but will maintain ties with PEAC Solutions as a consultant, with a focus on enhancing the material handling and forklift sectors.

Since joining the company in 2022 during its expansion phase, Horvath contributed by building vendor partnerships for driving growth within the CT&I sector, with business volume escalating from $125m in 2022 to $340m by 2025.

His role was also crucial in expanding the company’s network, adding over 20 new vendor partners.

PEAC global CEO Bill Stephenson said:  “I have had the pleasure of working with Tibor for many years. His knowledge, leadership, and strong work ethic have played a crucial role in establishing PEAC Solutions as a leader in the construction industry.

“Less than three years ago, when we launched PEAC, we had minimal visibility or presence in the market. Thanks to Tibor’s dedication, we are now recognised as one of the leading global leasing companies in this sector.”

Before his time at PEAC Solutions, Horvath held senior positions at various international finance institutions.

PEAC Solutions operates as a global asset finance platform, offering financial products to a diverse clientele in the equipment manufacturing, distribution, and dealership sectors.

The company’s services span across North America, Europe, and the UK, facilitating the acquisition of equipment through leases and loans.

Earlier this month, PEAC Solutions completed its acquisition of ePlus’s domestic subsidiaries, expanding its presence across the US.