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Alliance Capital Acquires Cardinal Business Financing

April 11, 2018, 07:23 AM
Filed Under: Mergers & Acquisitions

Alliance Capital Corporation (ACC) announce it has acquired Cardinal Business Financing Inc., a health care, hospitality and golf industry-focused vendor finance company based in Southbury, Conn. The transaction will add assets and expand Alliance Capital’s vendor finance capabilities for its business partners across the United States and Canada.

Alliance Capital’s decision to acquire Cardinal’s business platform is supported by the firm’s strong expertise in financing health care, hospitality, golf course and other products in the vendor finance space.

“We are thrilled to have the highly experienced Cardinal team join us at Alliance,” said Darren Gardner, President, ACC. “We expect the Cardinal integration to be mutually beneficial and to play an integral role in our strategy to deliver national best-in-class vendor finance solutions.”

This acquisition allows the Minneapolis-based ACC to continue to grow its commercial finance product offerings, which include equipment finance, asset-based lending, working capital, factoring and SBA Loans. This acquisition combines a wealth of business finance knowledge, experience and relationships across the U.S. and Canada. ACC has been expanding its business lines in North America through organic growth and acquisitions for over 23 years.

"Joining the Alliance team represents a significant opportunity for Cardinal, our vendors and employees,” said Daniel Casanta, Cardinal’s CEO. “Adding the Alliance brand and deep resources to our already dynamic services provides us with the opportunity to be part of a leading financial solutions provider in the market.”

Casanta anticipates a seamless transition.

"We are confident in our ability to maintain and accelerate our growth potential within Alliance Capital. Given their extensive experience in successfully operating leasing and equipment finance platforms, we are now uniquely positioned to be an even more valuable partner for our clients," he said.

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