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ECN Capital Announces Completion of Sale of Kessler Group Business to Stone Point Capital, Canadian Business Journal

TORONTO, Oct. 4, 2022 (GLOBE NEWSWIRE) — ECN Capital Corp. (TSX: ECN) (“ECN Capital” or “Company) announced the completion of the previously announced sale of all outstanding equity interests in ECN Kessler Holdco LLC (“Kessler Group”) to funds managed by Stone Point Capital LLC (“Stone Point”). increase. A wholly owned indirect subsidiary of the Company where ECN Capital operates the business of the Kessler Group (“Transaction”).

ECN Capital plans to use the net proceeds of the transaction to first pay down its debt and then redeploy some of the proceeds to accelerate its tuck-in acquisition strategy in its major marine and RV financing businesses.

About ECN Capital

ECN Capital Corp. (TSX: ECN) is a leading provider of business services to North American-based banks, credit unions, life insurance companies, pension funds and investment funds (collectively, “Partners”). ECN Capital originates, manages and advises credit assets on behalf of its partners. Specifically, the secured loan portfolio for the manufactured home business, ships and his RV business. Our partners want quality assets that match their deposits and other liabilities. These services are provided through his three businesses of Triad Financial Services, SourceOne Financial Services and Intercoastal Finance His Group.

About Stone Point Capital

Stone Point is an investment firm based in Greenwich, Connecticut with more than $45 billion in assets under management. Stone Point targets investments in companies in the global financial services industry and related sectors. The firm invests in a number of alternative asset classes, including private equity through its flagship Trident Fund. Stonepoint also manages both liquidity and private credit funds and managed accounts. In addition, Stone Point Capital Markets supports our company, portfolio companies and other clients by providing dedicated financing solutions. For more information, please visit www.stonepoint.com.


John Wimsat
[email protected]

Forward-Looking Statements

This release contains forward-looking statements regarding ECN Capital and its business. Such statements are based on ECN Capital’s management’s current expectations and views of future events.In some cases, forward-looking statements are “may,” “will,” “expect,” “plan,” “anticipate,” “intend,” “could,” “Estimate,” “denial of any of these terms, or other similar expressions intended to identify forward-looking statements. including those related to the anticipated impact of the transaction on its financial results, the anticipated use of net proceeds from the transaction and the opportunity for the Company to make future tuck-in acquisitions in manufactured homes, marine and RV finance; The business: Future events and conditions described in this release are subject to known and unknown risks that may affect ECN Capital, including risks related to the financial industry, economic factors and many other factors beyond our control. As a result of factors and uncertainties, it may not occur and may differ materially from ECN Capital.We cannot guarantee any forward-looking statements.Forward-looking statements and information are subject to change without notice. By their nature, they are based on assumptions and are subject to known and unknown risks, uncertainties and the possibility that our actual results, performance or achievements or industry results may differ materially from future results, performance or achievements It involves other factors and the results expressed or implied by such forward-looking statements or information.Therefore, readers should not place undue reliance on such forward-looking statements or information. A discussion of some of the applicable material risks and assumptions related to forward-looking statements or information is contained in ECN Capital’s MD&A for the three and six months ended June 30, 2022 and March 30, 2022. As set forth in the 2021 Annual Information Form dated 2021. filed with SEDAR and accessible at www.sedar.com, readers should not place undue reliance on forward-looking statements or information. Except as required by applicable securities laws, forward-looking statements speak only as of the date they are made and ECN Capital does not make any statements, whether as a result of new information or otherwise. publicly update or revise any forward-looking statements assume no obligations. upcoming events, or otherwise.

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ECN Capital Announces Completion of Sale of Kessler Group Business to Stone Point Capital, Canadian Business Journal

Source link ECN Capital Announces Completion of Sale of Kessler Group Business to Stone Point Capital, Canadian Business Journal

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