Finova Group has signed a definitive agreement to buy Financing for Science International Inc., a specialty leasing company, for about $35 million.

Financing for Science, Farmington, Conn., had $228 million in assets and a committed backlog for $62 million worth of business at the end of the first quarter. It serves the high-technology and life-sciences industries.

Sam Eichenfield, Finova's chairman and chief executive, said the acquisition would broaden the markets served by Finova's commercial equipment finance unit. He noted that $7.3 billion-asset Finova also recently acquired Link Financial Services Inc., a financier of health care receivables.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.