Element Financial closed the U.S.-based portion of the previously announced acquisition of the remaining North American fleet management operations of GE Capital.

Element expects to close the acquisition of GE Capital’s fleet management operations in Mexico, Australia and New Zealand on September 30, 2015.

The Canadian fleet management and equipment finance company previously acquired the Canadian operations of GE Capital’s fleet management business in June of 2013.

“The fleet management industry is a primary focus for Element Financial Corporation as a platform for delivering strong cash flows for our business, leading-edge products and services for our customers, challenging career opportunities for our employees and attractive returns for our investors,” said Bradley Nullmeyer, Element Financial Corporation’s president.

“Based on our experience integrating previously acquired fleet management platforms, we are very confident in our ability to meet or exceed our previously announced $90 million to $95 million integration savings target and to be in a position to re-engage in the consolidation of this industry by the mid-point of 2016,” said Steven Hudson, Element’s CEO.