CCEF, Travelers Financial to Merge Equipment Businesses



Coast Capital Equipment Finance (CCEF), a subsidiary of Coast Capital Savings, and Travelers Financial (TFC) announced that the assets of the prime equipment and vehicle finance business of TFC will become part of the Coast Capital Group of Companies.

The deal is expected to close early next month. Following the close, the consolidated equipment finance business of the Coast Capital Group of Companies will be carried out under CCEF and two new entities, Travelers Finance Ltd. and Travelers Leasing Ltd.

The combined organizations’ position in the Canadian equipment financing sector will be strengthened as a result of this agreement. The transaction will allow the two organizations to align their combined expertise and core strengths, while capitalizing on shared efficiencies and reaping the benefits of increased opportunities, including a broader customer base across the country and positioning for future growth.

TFC is one of the largest independent finance and leasing companies in Canada, offering a wide range of assets-based financing solutions to commercial and industrial sectors. Headquartered in Burnaby B.C., it also has offices in Alberta, Saskatchewan, Manitoba and Ontario.

“At Travelers we’re proud of all our employees and leadership team have accomplished. Finding an organization that shares mutual goals for growth and improved service means that we can continue to watch our team grow and succeed while ensuring that we’re doing the best we can for our customers in a competitive marketplace,” says Jim Case, CEO, Travelers Financial. “This opportunity holds so much potential and really puts us on the map as an industry leader.”

“We’re excited about the possibilities that bringing Travelers’ business into the Coast Capital Group of Companies offers,” says Tracy Redies, Coast Capital Savings’ president and CEO. “With our combined industry expertise and superior offerings, this deal brings our customers several new financing options that will ultimately help our business customers access the tools they need to succeed and continue to grow.”


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