Canadian Rental Service

News
Element Financial to acquire Alter Moneta

August 3, 2011 - Equipment financing company Element Financial said Wednesday that it plans to acquire substantially all the assets of Alter Moneta, a Montreal-based equipment leasing organization. Financial details of the agreement were not disclosed.


August 3, 2011
By Canadian Press

Alter Moneta's lease assets are located primarily in Quebec and Ontario and Element Financial said in a release that the companies have a comparable service offering and a complementary geographic
coverage.

"This transaction further solidifies Element Financial's market leadership in equipment financing in Canada and fuels its growth by allowing the company to offer coast-to-coast coverage to equipment manufacturers, distributors and their clients,'' said CEO Steven Hudson.

"The acquisition also provides Element Financial with a scalable and proven lease management and financial reporting system capable of servicing a multibillion-dollar portfolio.''

Toronto-based Element Financial provides equipment financing to clients across Canada in the transportation, construction, manufacturing, commercial, health-care and golf course industries.

Related links
Element Financial
Alter Moneta