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Hitachi Capital Canada Completes Acquisition of CLE Canadian Leasing

May 12, 2014, 06:50 AM
Filed Under: Mergers & Acquisitions

Hitachi Capital Canada Corp. (Hitachi) a 100% owned subsidiary of Hitachi Capital America Corp., announced that it has closed its previously announced share purchase agreement to acquire 100% of the shares of CLE Canadian Leasing Enterprise Ltd., (CLE).  CLE has been a trusted business partner of Hitachi in Canada since 2012. The acquisition of CLE strengthens Hitachi’s Canadian business base while improving Hitachi’s ability to grow financing activity in Canada.

CLE will add assets of $198.4 million and annual originations of $129.6 million to Hitachi Capital Canada.

“We are pleased to have completed the transaction as planned. The acquisition of CLE expands our footprint in Canada, which we view as an attractive operating environment and we have the utmost confidence in our new partners’ ability to expand Hitachi’s commercial financing capabilities in Canada” stated Bill Besgen, President and CEO of Hitachi Capital Canada.

Luc Robitaille, CEO of CLE added, “We are excited to have joined the Hitachi family of companies, a relationship which will enhance our growth opportunities and capabilities with our customers and vendors.

Hitachi Capital America Corp. was incorporated in October 1989 and commenced business operations in April 1990.  Headquartered in Norwalk, CT and is wholly owned by Hitachi Capital Corporation, Tokyo, Japan.  The parent company was founded in 1957 as a subsidiary of Hitachi Ltd., and has become one of the leading financial institutions in Japan.  Through their sister companies located in the United Kingdom, Singapore, Hong Kong, Thailand, Malaysia, Indonesia and China, Hitachi Capital has established a presence in the global market place to better serve Hitachi customers and Hitachi group of companies worldwide.

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