Hitachi Capital Canada, headquartered in Norwalk, CT, signed a share purchase agreement to acquire 100% of the shares of Canadian Leasing Enterprise (CLE).

CLE will add assets of $198.4 million and annual originations of $129.6 million to Hitachi Capital Canada. “CLE is an excellent company with an extensive sales network across Canada. They have been an excellent partner for Hitachi and this acquisition provides us with the ability to further increase our service and support to our manufacturing relationships with operations in Canada,” stated Bill Besgen, president and CEO of Hitachi Capital Canada.

The boards of both companies have approved the transaction. Completion of the acquisition is expected within the next 45 days.