ECN Capital reported financial results for the three-month and nine-month periods ending September 30, 2016. The company’s results for the period were reported as distributed operations of Element Fleet Management (formerly Element Financial) as a result of the October 3, 2016 separation of ECN Capital and Element Fleet Management into two publicly traded companies.
The following highlights were excerpted from the ECN news release:
“With the separation transaction completed, as a stand-alone specialty finance company with an investment-grade balance sheet and access to capital to make us actionable on acquisition opportunities, we have right-sized and improved the operating performance of our existing businesses and positioned ECN Capital for the next stage of growth,” said Steven Hudson, ECN Capital’s CEO. “For more than 30 years, the ECN Capital management team has successfully pursued a strategy of opportunistically deploying capital in the specialty finance sector in segments that are resilient through credit cycles and deliver premium yield and growth opportunities for our shareholders and funding partners,” added Hudson.
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