ECN Capital and INFOR Acquisition mutually agreed to terminate the transaction that would have resulted in the acquisition of INFOR by ECN.

Despite this news, ECN’s growth and capital strategy remains on track and focused on positioning the company as a North American leader in commercial finance.

ECN’s growth and capital strategy is based on a combination of three factors:

1. Driving profitable organic growth in each of its three core verticals where the company has an established North American presence – commercial and vendor finance, rail finance and commercial aviation finance.

2. Transitioning the commercial aviation and rail finance verticals to a combined on-balance sheet and fund management business model that allows for the efficient redeployment of capital and improved equity returns.

3. Positioning ECN for tuck-in acquisitions in selected complementary segments in the North American commercial finance market that offer defendable growth opportunities and attractive yields.

“The IAC Arrangement was an attractively priced incremental option to capitalize this growth strategy,” said Steven Hudson, ECN’s CEO. “As an investment-grade commercial finance company with more than $8.2 billion in owned and managed assets, ECN is favorably positioned to access adequate internal and external funding sources to execute on its business plan and growth strategy. ECN will continue its discipline as a prudent issuer of capital, respecting our shareholders’ interests.”

ECN was formerly Element Financial before Element’s move to split into two publicly traded companies, which became official on October 3.