Essex Lease Financial has reached an agreement in principle to acquire the Capital Asset Financing division of the Alberta-based ATB Financial. Supporting Canadian businesses, this partnership will significantly expand Essex’s equipment and agricultural financing services across Western Canada by creating a strong equipment finance industry leader.
“ATB has an exceptional reputation in the equipment financing space in Alberta and is known for continuously investing in its people and processes as well as its dedication to client service and operational practices, all of which is aligned with Essex’s commitment to excellence,” said Ross Sten, President and CEO of Essex. “With a growing population and accelerated infrastructure and agricultural investment in Western & Central Canada improving access to global markets, Essex believes that demand for equipment financing will continue to grow, and this partnership positions us well to provide greater resources and flexibility to the Canadian entrepreneurs who we seek to support as an independent financing partner.
“For nearly four decades, Essex has delivered client-focused solutions that align with ATB Financial’s core values, and we believe this strategic partnership will provide ongoing expertise for our clients,” said Curtis Stange, President and CEO of ATB Financial.
The transaction is subject to finalization of certain business terms and customary closing conditions and is expected to close in the last quarter of 2025.
