Element Financial said it has completed the previously announced acquisition of 100% of the shares of Nexcap Finance Corporation for approximately $20 million plus and assumption of $75 million debt financing.

With the completion of the Nexcap acquisition, Element has increased its finance asset portfolio to approximately $1.5 billion.

GMP Securities acted as financial advisor to Element in connection with the acquisition and Blake, Cassels & Graydon acted as legal counsel.