Credicor Financial and Varion Capital said they have entered into an agreement whereby Varion will become a Credicor company effective immediately.

The agreement and rebranding of Varion as a Credicor company brings a new fully integrated source for equipment finance to the Canadian market, the Credicor said. Credicor and its subsidiaries are already a recognized leader in the origination and management of lease contracts, Credicor added. Adding the ability to internally fund many of these originations improves the quality, speed and flexibility of the terms that Credicor and its subsidiaries may offer to its clients. Varion in turn will gain immediate access to Credicor’s treasury and back office resources.

James Jang, CEO of Varion, said “I have always believed that it is the balance between originations, credit adjudication and back office efficiency that ensures peak portfolio performance and customer satisfaction. Joining the Credicor group of companies allows Varion to better strike this balance.”