Ownership a natural extension of CFI's existing auto lease financing
TORONTO, May 12 /CNW/ - Corpfinance International Limited today
announced it has extended its business into the auto leasing segment
with the acquisition of four independent leasing companies. In Toronto
these businesses will operate under the brand names Landmark Leasing
and Palladini Leasing and in Vancouver under the name AutoOne Leasing.
"Through CFI Trust, Corpfinance has long been a major player in the
automotive and lease financing business" said Kevin Andrews, President
and CEO of Corpfinance International Limited. "We've originated over 4
billion dollars in assets through CFI Trust; we have over 25 years
experience and a core expertise in the business of financing auto
leasing companies. Moving into a phase where we run these businesses
directly is a natural extension of our portfolio."
"Over the past few years it became apparent to us that many independent
leasing companies had limited succession planning in place. This
combined with the lack of one dominant player in the market presented a
wonderful opportunity for us" said Mr. Andrews.
"Leveraging the financial stability and expertise of CFI, we will
consolidate the administrative functions and management of these
companies. We can also effectively share vehicle inventory and extend
our market penetration" said Rozmin Patel, Senior Vice President.
"Economies of scale can have a huge impact. We can run multiple leasing
companies much more efficiently and profitably than if we tried to run
each business independently."
"With the strengthening of the economy we are seeing a resurgence in
consumer confidence. This naturally encourages car leasing, which is
more flexible, easier, and more affordable than purchasing a vehicle.
All of this bodes well for our new venture" said Mr. Andrews. "We are
confident we can run our leasing companies efficiently and responsibly
applying the values and business standards CFI has historically applied
to all its transactions and divisions resulting in a strong new revenue
stream for Corpfinance."
About CFI Group:
With over 25 years of experience and having completed $6 billion of
transactions, CFI Group, through Corpfinance International Limited, CFI
Capital and CFI Trust, are specialists in providing customized medium
and long-term debt and equity financing solutions for private and
public corporations. The Company is based in Toronto, Ontario with
offices in Quebec and British Columbia.
CFI Group offers debt through Corpfinance International, equity capital
solutions through its subsidiary CFI Capital, which manages the CFI
Infrastructure Opportunities Fund, and securitization solutions through
CFI Trust. CFI Trust is a special purpose vehicle and issues notes
backed by the Trust's revolving portfolio of leases and secured loans
related almost exclusively to passenger vehicles. www.corpfinance.ca
SOURCE Corpfinance International Limited
For further information:
President and CEO