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Element to Review Canadian Commercial & Vendor Finance Operations

January 07, 2016, 07:12 AM
Filed Under: Industry News

Element Financial confirmed that it is proceeding with the strategic review of the Company’s Canadian Commercial & Vendor Finance business vertical that it initiated in October of 2015. The Company continues to expect to be actionable on the results of this review process in the first quarter of 2016.

“Our experience in the early months of the integration of the fleet management businesses that we acquired from GE Capital in the fourth quarter of last year have confirmed our expectations of the compelling returns that are available to us in this vertical,” said Steven Hudson, Element’s Chief Executive Officer. “Growing our Fleet Management business is Element’s top priority and any opportunities to improve the marketability and value of our Canadian Commercial & Vendor Finance business through non-material bolt-on acquisitions would only be considered if those transactions immediately enhance the fundamental economics of that business,” added Mr. Hudson.

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