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词条 ECN Capital
释义

  1. History

  2. Business

  3. References

{{Infobox company
| name = ECN Capital Corporation
| logo = ECN_Capital_Logo.svg
| type = Public
| traded_as = {{tsx|ECN}}
S&P/TSX Composite Component
| industry = Equipment Financing
| founded = 2016
| founder =
| hq_location_city = Toronto, Ontario
| hq_location_country = Canada
| key_people = Steven Hudson (Chief executive officer)
Jim Nikopoulos (President)
| website = http://ecncapitalcorp.com/
}}ECN Capital Corporation is a Canadian financing company with managed and advised assets of approximately US$29 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

ECN was founded in October 2016, through a spin-off of Element Financial's equipment finance division.[1] 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.[2]

In February 2017, ECN sold its US commercial and vendor finance business to PNC Capital for $1.25 billion.[3] 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 million.[6] It also purchased Triad Financial, a Florida-based home improvement lender, for $100 million, in October 2017.[5] On the other hand, in August 2017, ECN sold some of its rail car financing business for $1.44 billion.[5] It also sold its Canadian vendor financing business for $900 million in October 2017.[5]

Business

ECN Capital currently operates in three divisions:[7]

  • Service Finance, a home improvement lender
  • Triad Financial, a manufactured home lender
  • The Kessler Group, a payment services company

References

1. ^{{Cite news|url=https://www.theglobeandmail.com/report-on-business/element-financial-shareholders-vote-to-approve-split-of-company-into-two/article31963602/|title=Element Financial shareholders back splitting company into two|last=|first=|date=2016-09-20|work=The Globe and Mail|access-date=2018-04-22|archive-url=|archive-date=|dead-url=}}
2. ^{{Cite news|url=https://ca.reuters.com/article/businessNews/idCAKCN0VP1N4|title=Element Financial to split into two: fleet management and financing|last=|first=|date=2016-02-16|work=Reuters|access-date=2018-04-22|archive-url=|archive-date=|dead-url=|language=en-CA}}
3. ^{{Cite news|url=https://www.bnn.ca/ecn-capital-to-sell-us-1-25b-equipment-finance-business-to-pnc-financial-1.677056|title=ECN Capital to sell US$1.25B commercial and vendor finance business to PNC Financial - Article - BNN|date=2017-02-21|work=BNN|access-date=2018-04-22}}
4. ^{{Cite news|url=http://business.financialpost.com/news/fp-street/ecn-capital-shareholders-welcome-news-of-deal-to-sell-u-s-equipment-finance-business-for-us1-25b|title=ECN Capital shareholders welcome news of deal to sell U.S. equipment finance business for US$1.25B|date=2017-02-21|work=Financial Post|access-date=2018-04-22|language=en-US}}
5. ^{{Cite news|url=https://www.theglobeandmail.com/report-on-business/ecn-capital-moving-into-us-housing-market-triad-acquisition/article36719193/|title=ECN Capital moves into U.S. housing market with Triad acquisition|last=|first=|date=|work=The Globe and Mail|access-date=2018-07-01}}
6. ^{{Cite news|url=https://www.reuters.com/article/us-servicefinance-m-a-ecn-capital-idUSKBN18Z1LA|title=ECN Capital to buy Service Finance for C$410 million|last=|first=|date=2017-06-08|work=Reuters|access-date=2018-07-01|language=en-US}}
7. ^{{Cite web|url=http://ecncapitalcorp.com/the-company/locations|title=ECN Capital: Locations|last=|first=|date=|website=ECN Capital|language=en-US|archive-url=|archive-date=|dead-url=|access-date=2018-07-01}}

3 : Companies listed on the Toronto Stock Exchange|Financial services companies established in 2016|Companies based in Toronto

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