Huntington Bancshares acquires Macquarie

COLUMBUS — Huntington Bancshares Inc. today announced the signing of a definitive agreement for Huntington National Bank to purchase Bloomfield Hills, Mich.-based Macquarie Equipment Finance, Inc.

With approximately $500 million of annual originations, MEF-US is the largest standalone, vendor independent provider of specialized technology financing with customer-centric asset management services in the U.S.

Huntington will acquire Macquarie Equipment Finance’s U.S. business from its parent company — Sydney, Australia-based Macquarie Group Ltd. Huntington will acquire about $900 million of assets and assume approximately $630 million of debt, securitizations and other liabilities, according to the agreement between the two parties.

The acquisition is expected to be accretive to Huntington’s earnings in the first year and is anticipated to be completed by March 31, 2015.