Chicago-based private equity firm Flexpoint Ford LLC said that Service Finance Co. has agreed to be acquired by ECN Capital Corp. Terms of the deal were not disclosed.
Flexpoint has held a minority stake in Service Finance Co., a point-of-sale originator for home improvements and solar projects, since October 2015. The transaction is expected to close in the third quarter of 2017, subject to customary regulatory approvals and satisfaction of other closing conditions.
ECN Capital, a Toronto-based commercial finance company, managed assets of more than $4.6 billion, as of June 8. Following the transaction, Service Finance Co. will operate as a subsidiary of ECN Capital.
Axxcess Capital Partners and Arete Wealth Management were financial advisers to Service Finance Co.