Element Financial Corporation (“Element” or the “Company”), Canada’s leading independent equipment finance company, announced that it has completed the previously announced acquisition of 100% of the shares of Nexcap Finance Corporation (“Nexcap”) for approximately $20 million plus and assumption of $75 million debt financing.

With the completion of the Nexcap acquisition, Element has increased its finance asset portfolio to approximately $1.5 billion.

GMP Securities L.P. acted as financial advisor to Element in connection with the acquisition and Blake, Cassels & Graydon LLP acted as legal counsel.

With total assets of approximately $1.5 billion, Element Financial Corporation is Canada’s leading independent equipment finance company. Element operates nationally in three verticals of the equipment finance market - Element Capital provides large ticket equipment leasing, Element Finance serves the mid-ticket equipment finance market and Element Fleet provides vehicle fleet leasing and management solutions through the Company’s TLS Fleet Management division.

Previously reported on Equipment Finance Advisor:
Element Advances Vendor Finance Growth Strategy with Nexcap Acquisition