ECN Capital closed the acquisition of Service Finance Holdings on the terms previously announced.

“As a founder of Service Finance, I am excited by the immediate benefits of our strategic partnership with ECN,” said Mark Berch, Service Finance’s president. “ECN’s financial strength and resources present Service Finance with many new opportunities as we work to strengthen our business and propel growth.”

“We are beyond impressed with the Service Finance business and excited to see the early results of our partnership; increased originations and profitability,” said Steven Hudson, ECN Capital’s chief executive officer. “I am pleased to welcome Mark Berch, his partners, and employees to the next chapter of growth for both Service Finance and ECN Capital.”

With total owned and managed assets of more than $4.9 billion, ECN Capital operates in four verticals: home improvement finance, commercial and vendor finance, rail finance and aviation finance.

Service Finance is a nationally licensed sales finance company that utilizes a technology driven platform to originate, sell through to FDIC insured institutions, and service prime and super-prime installment contracts in the home improvement market. Originations are sourced through exclusive national vendor programs with top manufacturers and dealers.