Chesswood Group Ltd T.CHW

Alternate Symbol(s): CHWWF

Financial Services

Chesswood Group Limited is a Canada-based holding company. The Company, through its subsidiaries, engages in the business of specialty finance (including equipment finance throughout North America and vehicle finance and legal sector finance in Canada), as well as the origination and management of private credit alternatives for North American investors. Its subsidiaries include Pawnee Leasing Corporation (Pawnee); Tandem Finance Inc. (Tandem); Waypoint Investment Partners Inc. (Waypoint), Chesswood Capital Management Inc. and Chesswood Capital Management USA Inc. (CCM USA); Rifco National Auto Finance Corporation, and 1000390232 Ontario Inc (Easy Legal). Pawnee, which finances micro and small-ticket commercial equipment for small and medium-sized businesses in the United States through the third-party broker channel. Tandem sources micro and small-ticket commercial equipment originations to small and medium-sized businesses through the equipment vendor channel in the United States.

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Chesswood Group Ltd > RIFCO Acquisition Closes Friday

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Post by 419lornestreet9on Jan 11, 2022 6:31pm

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Post# 34305949

RIFCO Acquisition Closes Friday

Still nothing from Chesswood. I hope most shareholders took cash.

Positives for the transaction:
+ Used car prices are much higher (helps originations and credit)
+ Oil prices much higher (+100 in CAD) - should help Alberta
+ Chesswood much lower funding costs. Could put a good chunk of RIFCO receivables on the corporate revolver facility and save about 70bps.

Chesswood should do some more consolidation in the industry and then sell the entity to a larger buyer.

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