ECN Capital Corp. announced its wholly owned subsidiary, Triad Financial Services, Inc. has been approved as a qualified mortgage seller and servicer by Freddie Mac (FMCC). According to the Manufactured Housing Institute, manufactured housing...
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June 02, 2020, 07:00 AM
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ECN Capital Corp. announced its’ operating subsidiary, Service Finance, has renewed its largest bank funding commitment. Over the next 12 months, this bank partner is committed to purchasing up to $600 million in Service Finance prime and super prime...
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March 20, 2020, 07:10 AM
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ECN Capital Corp. reported its fourth-quarter and 2019 financial results. For the three-month period ended Dec. 31, 2019, ECN Capital reported adjusted net income applicable to common shareholders from continuing operations of $18.5 million versus...
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February 27, 2020, 07:24 AM
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ECN Capital Corp. reported its financial results for the third quarter. For the three-month period ending Sept. 30, ECN Capital reported adjusted net income applicable to common shareholders of $18.2 million versus $16.6 million for the second...
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November 08, 2019, 07:25 AM
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ECN Capital Corp. reported adjusted net income applicable to common shareholders of $16.6 million for the second quarter ended June 30 versus $5.6 million for the same period last year.Originations for the three-month were $598 million versus $419.2...
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August 08, 2019, 07:20 AM
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ECN Capital Corp. reported financial results for the first quarter. The company reported adjusted net income applicable to common shareholders of $12.6 million versus a loss of $2 million for the same period last year.“ECN had a solid Q1 across the...
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May 09, 2019, 07:30 AM
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ECN Capital Corp. during its annual meeting of shareholders announced the retirement of Grier Colter as Chief Financial Officer. The company also announced the appointment and promotion of Michael Lepore, Senior Vice President, Controller, to the...
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March 27, 2019, 07:15 AM
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ECN Capital Corp. reported Adjusted Net Income applicable to common shareholders of $21.3 reported financial results for the three-month period ending Sept. 30, up from $12.8 million a year ago.Originations for the three-month period ending Sept. 30...
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November 13, 2018, 07:15 AM
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ECN Capital Corp. reported its financial results for the three-month period ending June 30. The company posted adjusted net income applicable to common shareholders of $13.4 million compared with $8 million for the same period last year.Originations...
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August 13, 2018, 07:06 AM
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ECN Capital Corp. announced it has completed its strategic investment in The Kessler Group on the terms previously announced. ECN Capital this month announced it signed a definitive agreement to invest $221.2 million in KG.“I am excited to begin this...
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June 01, 2018, 07:25 AM
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ECN Capital reported financial results for the three-month period ending March 31, 2018. Readers should note that as of January 1, 2018, the Company changed its presentation and functional currency from Canadian dollars to U.S. dollars. In addition...
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May 14, 2018, 07:25 AM
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ECN Capital Corp. announced it has entered into a definitive agreement to make a strategic investment in The Kessler Group (KG). Under the terms of the agreement, ECN Capital will invest $221.2 million in KG. This investment represents a significant...
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May 11, 2018, 07:20 AM
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ECN Capital Corp. announced that it has entered into a definitive agreement with Canadian Western Bank to sell all of the Company’s Canadian Commercial and Vendor (“C&V”) Finance assets for cash proceeds of approximately C$900 million, representing a...
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October 31, 2017, 07:15 AM
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ECN Capital announced that it has closed the acquisition of Service Finance Holdings, LLC (“Service Finance”) on the terms previously announced.“As a founder of Service Finance, I am excited by the immediate benefits of our strategic partnership with...
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September 08, 2017, 07:04 AM
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ECN Capital Corp. announced that it has entered into agreements to sell $1,487 million of Railcar Assets to affiliates of ITE Management L.P. and Napier Park Global Capital for proceeds of approximately $1,439 million (collectively, the “Railcar...
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August 09, 2017, 07:10 AM
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ECN Capital announced that it has entered into a definitive agreement to acquire Service Finance Holdings, LLC ("Service Finance"). Under the terms of the agreement, ECN Capital will pay C$410 million (US$304 million) in cash for Service Finance. In...
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June 08, 2017, 07:15 AM
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ECN Capital Corp. announced that on May 11, at the ECN Capital Board of Directors meeting, Jim Nikopoulos was promoted to President of ECN Capital. Jim had previously served as Chief Operating Officer.“Jim has been instrumental in helping me execute...
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May 16, 2017, 07:30 AM
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ECN Capital Corp. announced that Donna Toth and Carol Goldman have been appointed to the Company’s board of directors to sit as independent directors effective April 10, 2017.Ms. Toth has been a Corporate Director of LOGiQ Asset Management Inc. since...
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April 11, 2017, 07:00 AM
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ECN Capital announced today it has completed the previously announced sale of the company’s U.S. Commercial and Vendor (C&V) Finance business to PNC Financial Services Group (PNC) on the previously agreed terms. With the sale, ECN Capital is now a...
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April 04, 2017, 07:15 AM
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ECN Capital Corp. (“ECN Capital” or the “Company”) reported financial results for the three-month period and fiscal year ending December 31, 2016. Readers should note that in this release, amounts reported for the comparable quarters ended September...
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March 08, 2017, 07:15 AM
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ECN Capital Corp. announced that it has entered into an agreement with PNC Financial Services Group (PNC) to sell the Company’s US Commercial and Vendor (C&V) Finance business for cash proceeds of approximately US$ 1.253 billion. PNC will purchase...
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February 22, 2017, 07:40 AM
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ECN Capital announced that it has appointed Michel Béland to the position of Chief Financial Officer of the Company effective immediately.Mr. Béland has served continuously as the Chief Financial Officer of Element Financial Corporation since July...
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January 10, 2017, 07:15 AM
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ECN Capital Corp. reported that the Company’s CEO, Steven Hudson, has purchased $18.2 million in ECN Common Shares in the open market at an average price of $2.88 per share. He also exercised previously vested options to purchase 300 thousand common...
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November 22, 2016, 07:03 AM
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ECN Capital Corp. reported financial results for the three-month and nine-month periods ending September 30, 2016. The Company’s results for the period were reported as distributed operations of Element Fleet Management Corp. (formerly Element...
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November 15, 2016, 07:07 AM
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ECN Capital Corp. announced that by mutual agreement, INFOR Acquisition Corp. (“IAC”) and ECN Capital have terminated the previously announced qualifying transaction that would have resulted in the acquisition of all of the outstanding shares of IAC...
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October 13, 2016, 07:25 AM
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Element Financial Corporation (“Element”), now Element Fleet Management Corp. (“Element Fleet”) and ECN Capital Corp. (“ECN Capital”) jointly announced the completion of the reorganization of Element into two separate publicly-traded companies (the...
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October 04, 2016, 07:03 AM
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Element Financial Corporation announced that its Board of Directors has unanimously approved plans to proceed with the reorganization of Element into two separate publicly-traded companies (the “Separation Transaction”) targeted for closing on...
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July 26, 2016, 07:18 AM
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Element Financial Corporation reported financial results for the three-month period ending March 31, 2016. After-tax adjusted operating income for the three-month period ending March 31, 2016 was $143.3 million or $0.35 per share (basic), in line...
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May 12, 2016, 07:17 AM
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On February 16, 2016, Element Financial Corporation (“Element”) announced its intention to separate into two independent publicly traded companies: Fleet Management and Commercial Finance.The current Board of Directors, governance and management...
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April 08, 2016, 07:15 AM
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Element Financial Corporation announced that following the completion of a strategic review of each of the Company’s business units that it initiated in October of last year, the Board of Directors has approved plans to proceed with a transaction...
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February 16, 2016, 07:21 AM
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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...
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January 07, 2016, 07:12 AM
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Element Financial Corporation announced that it has initiated a series of steps that will accelerate the transformation of the Company into North America's leading fleet management and services enterprise with complementary commercial finance...
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October 14, 2015, 07:08 AM
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Element Financial announced that it has closed the acquisition of General Electric Capital Corporation’s (“GE Capital”) fleet management operations in Mexico and their fleet management operations in Australia and New Zealand doing business as Custom...
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October 01, 2015, 06:38 AM
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Element Financial announced that it has received an initial issuer rating of BBB from DBRS Limited (DBRS).The Company also was awarded a rating of R-2 (middle) on its short-term instruments and a rating of Pfd-3 on its perpetual preferred shares. All...
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September 25, 2015, 06:38 AM
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Element Financial Corporation announced that it has closed the U.S.-based portion of the previously announced acquisition of the remaining North American fleet management operations of General Electric Capital Corporation and expects to close the...
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September 01, 2015, 07:07 AM
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Element Financial Corporation reported financial results for the three-month and six-month periods ending June 30, 2015. Free operating cash flow amounted to $88.8 million for the three-month period. After tax adjusted operating income amounted to...
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August 13, 2015, 07:12 AM
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Bloomberg reported Element Financial is looking for more deals after announcing a $6.9 billion acquisition of GE Capital’s fleet business.According to the Bloomberg report, Element Chief Executive Officer Steve Hudson said he’s eyeing Hertz Global...
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June 30, 2015, 07:16 AM
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Element Financial Corporation announced that it plans to sell, on a “bought deal” basis, $1,550 million of subscription receipts (“Subscription Receipts”), $500 million aggregate principal amount of extendible convertible unsecured subordinated...
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May 21, 2015, 07:08 AM
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Element Financial Corporation reported financial results for the three-month period ending March 31, 2015. Free operating cash flow amounted to $78.4 million for the three-month period. After tax adjusted operating income amounted to $60.4 million...
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May 14, 2015, 07:04 AM
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Element Financial announced that it has appointed independent director William Lovatt as Chairman of the Company’s board of directors, effective as of April 1, 2015. This appointment aligns Element with optimal corporate governance standards where...
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March 26, 2015, 07:10 AM
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Element Financial Corporation (TSX:EFN) (“Element” or the “Company”), one of North America’s leading equipment finance companies, together with its wholly-owned subsidiaries Element Rail Leasing II LLC and Element Rail Leasing Canada LP, announced...
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March 04, 2015, 06:00 AM
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Element Financial announced that members of the Company’s senior management team purchased approximately $7.1 million worth of Element common shares in the open market following Friday’s announcement of the Company’s financial results for the...
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November 20, 2014, 07:02 AM
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Element Financial Corporation reported financial results for the three-month and nine-month periods ending September 30, 2014. New originations during the period of $1.2 billion, together with the acquisition of PHH Arval at the beginning of the...
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November 14, 2014, 07:06 AM
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Element Financial Corporation announced that it has expanded the Company’s existing senior credit facility to $1.6 billion with the addition of a further $100 million commitment from a US-based bank. The Company’s senior banking facility is led by...
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October 24, 2014, 06:45 AM
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Element Financial Corporation (“Element” or the “Company”), reported financial results for the three-month and six-month periods ending June 30, 2014 with organic originations of $0.8 billion contributing to a 7.9 percent increase in the Company’s...
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August 13, 2014, 07:00 AM
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Element Financial ("Element" or the "Company") announced the recruitment of a team of experienced structured finance veterans formerly with Credit Suisse Group. Together, this team has more than US$45 billion of experience structuring, investing and...
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August 08, 2014, 07:02 AM
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Element Financial Corporation announced that it has entered into a definitive agreement to acquire the assets and operations of PHH Arval, PHH Corporation’s North American fleet management services business (the “Transaction”). Under the terms of the...
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June 03, 2014, 07:00 AM
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Element Financial (“Element” or the “Company”) announced the appointment of David D. McKerroll as President of Element Capital to oversee the further expansion and development of Element’s Railcar Finance and Aviation Finance business units.As a...
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May 28, 2014, 07:00 AM
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Element Financial Corporation reported financial results for the three-month period ending March 31, 2014 with record originations of $1.1 billion contributing to a 27 percent increase in the Company’s total earning assets to $3.8 billion as at March...
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May 14, 2014, 07:05 AM
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Element Financial Corporation and its wholly-owned subsidiary Element Rail Leasing I LLC (Series 2014-1), announced that it has closed its first railcar asset-backed securitization (ABS) in the aggregate gross amount of $340.3 million.
The...
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April 18, 2014, 07:18 AM
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Element Financial Corporation ("Element" or the "Company") announced that it has closed its previously announced Cumulative 5-Year Rate Reset Preferred Share Series C financing. Element issued, on a bought deal basis, 5,000,000 6.50% Cumulative...
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March 10, 2014, 06:00 AM
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Element Financial Corporation (Element” or “the Company”) today reported financial results for the 12-month and three-month periods ending December 31, 2013 with all five business verticals delivering record originations volumes contributing to a 30...
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February 21, 2014, 07:00 AM
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Element Financial (“Element” or the “Company”), announced that it has completed its second railcar portfolio acquisition with the purchase of a further US$396 million worth of leased railcars from Dallas-based Trinity Industries, the leading railcar...
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January 29, 2014, 07:00 AM
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Element Financial Corporation (“Element” or the “Company”), announced that it expects to organically originate more than $3.8 billion of new equipment loans and leases during 2014 across the Company’s five North American market verticals representing...
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January 15, 2014, 07:04 AM
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Element Financial Corporation announced that it has closed its previously announced acquisitions comprised of approximately US$348 million worth of helicopter and railcar finance assets from GE Capital and Trinity Industries, Inc....
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December 20, 2013, 06:15 AM
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Element Financial Corporation (“Element” or the “Company”) announced that it has entered into a strategic alliance with Trinity Industries (“Trinity”) to provide lease financing for up to $2 billion worth of railcars over the next two years. Element...
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December 10, 2013, 07:03 AM
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Element Financial Corporation (“Element” or “the Company”) reported financial results for the three and nine month periods ending September 30, 2013 showing strong growth in earnings and increased origination volumes in the Company’s commercial...
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November 14, 2013, 07:19 AM
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Element Financial Corporation (“Element” or the “Company”) announced that the company’s aviation finance business unit, acting as lessor, lender or lead arranger, has successfully leased or financed more than 100 aircraft since the inception of this...
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October 01, 2013, 06:59 AM
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Element Financial Corporation("Element" or "the Company"), announced that it has closed a new $585 million senior revolving credit facility to fund the Company's planned origination activity into 2014.The facility, which includes a $150 million...
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September 05, 2013, 07:02 AM
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Element Financial Corporation (“Element” or “the Company”), reported financial results for the three and six month periods ending June 30, 2013 showing strong growth in origination volumes across all of the Company’s business verticals. New...
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August 14, 2013, 07:00 AM
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Element Financial Corporation (“Element” ) and GE Capital (“GE Capital”) announced that they have entered into a definitive asset purchase agreement (the “Agreement”) whereby Element acquires GE Capital’s Canadian fleet portfolio and the two...
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June 03, 2013, 07:08 AM
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Element Financial Corporation ("Element" or "the Company"), reported strong financial results across all of its business segments generating operating income of $12 million for the three month period on finance revenue of $31.8 million resulting in...
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May 14, 2013, 07:20 AM
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Element Financial Corporation (“Element” or “the Company”) announced several changes to the Company’s board of directors aimed at bringing increased independence and a broader regional perspective to the work of the board and its committees.In this...
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May 07, 2013, 06:50 AM
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Element Financial Corporation ("Element" or "the Company"), announced that it has commenced rebranding the operations of the recently acquired CoActiv Capital Partners under Element's North American identity. Effective immediately, the legal name of...
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May 03, 2013, 07:16 AM
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In an exclusive interview featured on Bloomberg, Element Financial's Chief Executive Officer Steve Hudson said selling repackaged leases to life insurance companies helped his Canadian firm avoid the “financial market heroin” that almost ruined his...
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April 11, 2013, 07:14 AM
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Element Financial Corporation (“Element” or “the Company”), Canada’s leading independent equipment finance company, reported that record origination levels of $689.3 million contributed to revenue of $57.9 million, operating income of $14.9 million...
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February 20, 2013, 07:28 AM
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Element Financial Corporation ("Element" or the "Company"), announced that it has entered into a definitive agreement to acquire Nexcap Finance Corporation ("Nexcap") for approximately $20 million plus the assumption of existing net debt (the...
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December 28, 2012, 07:30 AM
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Element Financial Corporation ("Element" or the "Company") announced that it has completed the previously announced acquisition of 100% of the shares of Horsham, Pennsylvania-based CoActiv Capital Partners, Inc. ("CoActiv") from Marubeni America...
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December 03, 2012, 07:22 AM
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Element Financial Corporation ("Element") is pleased to announce that it has amended the terms of its previously announced private placement bought deal offering of special warrants of Element ("Special Warrants") to increase the size of the offering...
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November 12, 2012, 07:36 AM
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Element Financial Corporation ("Element" or "the Company"), Canada's leading independent equipment finance company, today reported that record origination levels of $219.7 million contributed to revenue of $19.6 million, operating income of $5.4...
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November 07, 2012, 07:19 AM
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Element Financial Corporation ("Element"), Canada's leading independent equipment finance company, announced that it has appointed Troy Campbell as President of its wholly-owned subsidiary, Transportation Lease Systems Inc. ("TLS Fleet Management" or...
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August 13, 2012, 07:27 AM
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Element Financial Corporation ("Element"), one of Canada's leading independent equipment finance companies, announced that it has entered into a definitive agreement to acquire 100% of TLSI Holdings Inc., the holding company of TLS Fleet Management (...
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May 16, 2012, 08:00 AM
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Element Financial Corporation ( (“Element”), one of Canada’s leading independent equipment finance companies, today announced ahead of plan originations and profitability and financial results for the first quarter of calendar 2012.“The financial...
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May 15, 2012, 07:30 AM
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