PEAC Solutions announces retirement of Tibor Horvath

PEAC Solutions has announced the retirement of Tibor Horvath, Senior Vice President and Global Lead of the Construction, Transportation, and Industrial (CT&I) Division, from his full-time role, effective July 31, 2025.

A prominent figure in equipment finance, Horvath concludes a celebrated career spanning more than four decades.

Horvath, who joined PEAC in 2022 during a pivotal time of global expansion, played an instrumental role in the company’s rapid growth within the CT&I space. Under his leadership, the division scaled from US$125 million in volume to US$340 million in just three years, significantly enhancing PEAC’s visibility and presence in the global leasing market. His strategic onboarding of more than 20 new vendor partners during this period marked a defining era of innovation and momentum for the business.

“I have had the pleasure of working with Tibor for many years,” said PEAC’s Global CEO, Bill Stephenson. “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.”

Horvath will remain connected to PEAC in a consulting capacity, focusing on the expansion of the company’s Material Handling and Forklift business units.

“As I reflect on my time working with Tibor, I can say the last three years have been the most transformative of my career,” said Ralph Cioffi, Vice President – Industrial Retail Sales. “His leadership style didn’t just guide – it challenged. He consistently pushed boundaries, encouraging me to think beyond conventional limits and approach problems with bold, strategic vision.”

Horvath’s industry contributions extend well beyond PEAC. Before joining the company, he held senior leadership positions at several major global finance institutions, building a reputation as one of the most respected and well-rounded voices in the equipment finance community.

“Tibor’s knowledge, experience, and passion for equipment leasing in the material handling and construction segments is irreplaceable,” added Jeff Gocken, Vice President – National Account Manager. “It has been my good fortune to have him as a mentor, a colleague, and most importantly, a friend.”