TORONTO, Oct. 7, 2013 /CNW/ - Element Financial Corporation (TSX:EFN)
("Element" or "the Company"), one of North America's leading
independent equipment finance companies, today announced that it has
signed a Vendor Financing Agreement (the "Agreement") with
Saskatoon-based Crestline Coach Ltd. ("Crestline") that establishes
Element as Crestline's preferred sales financing partner across North
America.
Under the terms of the multi-year Agreement, Element will work in
alignment with Crestline's sales and distribution channels in Canada
and the United States to provide equipment financing solutions to
customers for the full line of Crestline's ambulance and coach bus
products.
"This preferred financing relationship gives Element the opportunity to
help Crestline's North American customers acquire a best-in-class
product with a financing option that takes full advantage of the
durable value that is built into every one of Crestline's vehicles,"
said Todd Hudson, Element's Executive Vice President.
Crestline manufactures and distributes ambulances, speciality emergency
vehicles and coach buses to public and private operators across North
America. With an average transaction size ranging from $150 thousand to
more than $5 million and over 10,000 vehicles sold, Crestline has been
an industry leader in product innovation and flexibility in meeting the
ever changing needs of its customer for over thirty-eight years.
"As a leading supplier of ambulances and coaches to the North American
market, we selected Element as our sales financing partner because of
their understanding of our business and the unique needs of our
customers. Element's ability to seamlessly offer our customers a
customized equipment financing solution in either Canada or the United
States addresses the growing need of our customers for cost effective
solutions to managing all aspects of their fleets," said Steve
Hoffrogge, Crestline's Chief Executive Officer.
About Element Financial Corporation
With total assets of approximately $2.5 billion, Element Financial
Corporation is one of North America's leading independent equipment
finance companies. Element operates across North America in three
verticals of the equipment finance market - Element Capital provides
large ticket equipment financing, Element Finance serves the mid-ticket
equipment finance market and Element Fleet provides vehicle fleet
leasing and management solutions.
This release includes forward-looking statements regarding Element and
its business. Such statements are based on the current expectations
and views of future events of Element's management. In some cases the
forward-looking statements can be identified by words or phrases such
as "may", "will", "expect", "plan", "anticipate", "intend",
"potential", "estimate", "believe" or the negative of these terms, or
other similar expressions intended to identify forward-looking
statements. The forward-looking events and circumstances discussed in
this release may not occur and could differ materially as a result of
known and unknown risk factors and uncertainties affecting Element,
including risks regarding the equipment finance industry, economic
factors and many other factors beyond the control of Element. No
forward-looking statement can be guaranteed. Forward-looking
statements and information by their nature are based on assumptions and
involve known and unknown risks, uncertainties and other factors which
may cause our actual results, performance or achievements, or industry
results, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statement or information. Accordingly, readers should
not place undue reliance on any forward-looking statements or
information. Except as required by applicable securities laws,
forward-looking statements speak only as of the date on which they are
made and Element undertakes no obligation to publicly update or revise
any forward-looking statement, whether as a result of new information,
future events, or otherwise.
SOURCE Element Financial Corporation
