ECN Capital
| Company type | Public |
|---|---|
| TSX: ECN S&P/TSX Composite Component | |
| Industry | Business Services |
| Founded | 2016 |
| Headquarters | , Canada |
Key people | Steven Hudson (Chief executive officer) |
| Website | http://ecncapitalcorp.com/ |
ECN Capital Corporation is a Canadian financing company with managed and advised assets of approximately US29ドル billion. It provides credit portfolios to 90 U.S. financial institutions and also originates, manages and advises on prime credit assets. It is listed on the Toronto Stock Exchange.[1]
History
[edit ]ECN was founded in October 2016, through a spin-off of Element Financial's equipment finance division.[2] The spin-off resulted in two separate publicly traded companies: Element Fleet Management, which manages vehicle fleets, and ECN Capital, which provided commercial financing, especially to fleet owners.[3]
In February 2017, ECN sold its US commercial and vendor finance business to PNC Capital for 1ドル.25 billion.[1] The deal caused the company's share price to rise, in part because the sale price was above book value.[4] This deal was part of a larger attempted re-deployment of capital by ECN from vendor and equipment financing to home improvement and construction financing.[5] As part of this re-deployment, in June 2017, the firm purchased Service Finance, an American home improvement lender, for 410ドル million.[6] It also purchased Triad Financial, a Florida-based home improvement lender, for 100ドル million, in October 2017.[5] On the other hand, in August 2017, ECN sold some of its rail car financing business for 1ドル.44 billion.[5] It also sold its Canadian vendor financing business for 900ドル million in October 2017.[5] In December 2021 ECN sold Service Financial for US2ドル Billion and used the proceeds to declare a 7ドル.50/share special dividend that was paid out to shareholders on Dec. 22, 2021.
Business
[edit ]ECN Capital currently operates in two divisions:[7]
- Triad Financial, a manufactured home lender
- The Kessler Group, a payment services company
References
[edit ]- ^ a b "ECN Capital to sell US1ドル.25B commercial and vendor finance business to PNC Financial - Article - BNN". BNN. 2017年02月21日. Retrieved 2018年04月22日.
- ^ "Element Financial shareholders back splitting company into two". The Globe and Mail. 2016年09月20日. Retrieved 2018年04月22日.
- ^ "Element Financial to split into two: fleet management and financing". Reuters. 2016年02月16日. Archived from the original on February 19, 2016. Retrieved 2018年04月22日.
- ^ "ECN Capital shareholders welcome news of deal to sell U.S. equipment finance business for US1ドル.25B". Financial Post. 2017年02月21日. Retrieved 2018年04月22日.
- ^ a b c d "ECN Capital moves into U.S. housing market with Triad acquisition". The Globe and Mail. Retrieved 2018年07月01日.
- ^ "ECN Capital to buy Service Finance for C410ドル million". Reuters. 2017年06月08日. Retrieved 2018年07月01日.
- ^ "ECN Capital: Locations". ECN Capital. Retrieved 2018年07月01日.