ECN Capital Corp T.ECN

Alternate Symbol(s): ECNCF | ECNNF | T.ECN.PR.C | T.ECN.DB | T.ECN.DB.A | T.ECN.DB.B

Financial Services Asset Management

ECN Capital Corp. is a Canada-based company. The Company is a provider of business services to North American banks, credit unions, life insurance companies, pension funds and institutional investors (collectively, its Partners). It originates, manages and advises on credit assets on behalf of its Partners, specifically consumer (manufactured housing and recreational vehicle and marine) loans and commercial (inventory finance or floorplan) loans. The Company operates through two segments: Manufactured Housing Finance, and Recreational Vehicles (RV) and Marine Finance. Its business segment includes Triad Financial Services, Source One Financial, and Intercoastal Finance Group. The Triad Financial Services is a portfolio solutions platform focused on originating and managing longer duration secured consumer loan portfolios for active partner. The Source One Financial originates prime and super-prime loans to consumers to facilitate the purchase of recreational and marine vehicles.

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ECN Capital Corp

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Post by dancheon Jun 08, 2017 3:22pm

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Post# 26341828

News ECN Capital to Buy Service Finance for $410 Mln

ECN Capital to Buy Service Finance for $410 Mln MT Newswires 11:40 AM EDT, 06/08/2017 (MT Newswires) -- ECN Capital (ECN.TO) added 3% in recent trade after signing an agreement to buy Service Finance for $410 million in cash. The company has also agreed to a deferred purchase price earn-out plan with the founders that will be based on the achievement of prescribed return on average equity over the next 5 years. The acquisition will be immediately accretive to adjusted EPS and return on equity ROE in 2017 and beyond.

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