Hitachi Capital Canada, a 100% owned subsidiary of Hitachi Capital America, announced it closed its share purchase agreement to acquire 100% of the shares of CLE Canadian Leasing Enterprise (CLE). CLE has been a trusted business partner of Hitachi in Canada since 2012. The acquisition of CLE strengthens Hitachi’s Canadian business base while improving Hitachi’s ability to grow financing activity in Canada.

CLE will add assets of $198.4 million and annual originations of $129.6 million to Hitachi Capital Canada.

“We are pleased to have completed the transaction as planned. The acquisition of CLE expands our footprint in Canada, which we view as an attractive operating environment and we have the utmost confidence in our new partners’ ability to expand Hitachi’s commercial financing capabilities in Canada” said Bill Besgen, president and CEO of Hitachi Capital Canada.