DES MOINES Wells Fargo & Co.s commercial leasing unit completed the acquisition of Conseco Finance Vendor Services, a Paramus, N.J., leasing company.
The business, which includes $960 million of owned and managed leases and vendor relationships, was folded into Wells Fargo Financial Leasing Inc. of Des Moines, which has assets of $1.4 billion. Conseco Finance has 180 employees in New Jersey and Bloomington, Minn.
Wells Fargo Financial Leasing provides equipment leasing for businesses, manufacturers, and the medical community. It is part of Wells Fargo Financial Inc., the San Francisco banking companys consumer and commercial finance unit.