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Element Financial Corp Closes CoActiv Capital Partners Inc. Acquisition


Friday, 30 Nov 2012 02:57pm EST 

Element Financial Corp announced that it has completed the previously announced acquisition of 100% of the shares of Horsham, Pennsylvania-based CoActiv Capital Partners, Inc. (CoActiv) from Marubeni America Corporation and Marubeni Corporation (collectively "Marubeni") for aggregate consideration of approximately $300 million, including repayment of debt to Marubeni (the Acquisition). With the completion of the CoActiv acquisition, Element has increased its finance asset portfolio from approximately $1.1 billion to $1.4 billion. Barclays and BMO Capital Markets acted as financial advisors to Element in connection with the Acquisition and Blake, Cassels & Graydon LLP acted as legal counsel. 

Company Quote

14.72
0.01 +0.07%
4:00pm EDT