Accord Financial Closes $63.2 Million Sale of US Leasing Portfolio Assets
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 30 2024
0mins
Source: Businesswire
Transaction Overview: Accord Financial Corp. successfully sold its US equipment leasing division, Accord Equipment Finance, for gross proceeds of $63.2 million, with the acquirer being a major finance company expanding into equipment leasing. The deal includes the transition of AEF’s team to ensure client continuity.
Strategic Focus: This sale aligns with Accord's strategy to refocus on its core business in receivables finance and small business finance in Canada, aiming for growth and improved shareholder value moving forward.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
