Element Financial announced that it has completed the previously announced acquisition of 100% of the shares of CoActiv Capital Partners from Marubeni America Corporation and Marubeni Corporation for aggregate consideration of approximately $300 million, including repayment of debt to Marubeni.

With the completion of the CoActiv acquisition, Element said it has increased its finance asset portfolio from approximately $1.1 billion to $1.4 billion.

The approximately $300 million funding required to complete the acquisition was satisfied through a combination of cash and approximately $230 million advanced under new securitization and related financing arrangements for the acquired finance assets.

Barclays and BMO Capital Markets acted as financial advisors to Element in connection with the acquisition and Blake, Cassels & Graydon acted as legal counsel.