Following five consecutive years of robust growth and the development of an impressive customer base throughout North America, Northpoint Commercial Finance has recently announced that they are to be acquired by LBC Capital, a subsidiary of Laurentian Bank of Canada. The transaction is expected to close before the end of 2017 fiscal year, subject to customary closing conditions, including applicable regulatory notifications and approvals.
From a start-up finance company to an established entity, Northpoint has continued to innovate, bring on knowledgeable people, and form strategic partnerships throughout the industry, including this latest exciting endeavor. As this next phase begins for Northpoint, it is expected that the partnership with LBC Capital will only strengthen Northpoint’s offerings and ensure that they remain a long-term and powerful force in the market. The businesses of Northpoint and LBC Capital complement each other very well.
Jeff Collins, Executive Vice President of Operations, states, “Our acquisition by LBC Capital is a natural and anticipated part of our evolution as an organization. We were founded in 2012 via private equity, and experienced significant growth over the last five years requiring access to highly reliable capital. Laurentian Bank, in business for over 170 years, is expected to provide us the stability needed to continue our expansion.”
A unique culture has been created by the Northpoint management team. Delivering customized financial solutions that work for their clients and maintaining long-term partnerships within the industries they serve is the cornerstone of their success and will remain the same in the future. Dan Radley, President and CEO of Northpoint, says, “We’re eager to work with the entrepreneurial team at LBC Capital, who we align very well with culturally. They are truly excited about our business and committed to the continuation of our value proposition, which includes a passion for customers, speed in execution, and a highly personalized approach to lending.”
The distinguishing features that have led to the success of Northpoint will remain and be strengthened following the closing of the transaction with LBC Capital. These features include not only methods in which business is conducted, but their unmatched customer service, quick credit turn time, and focus on building mutually beneficial relationships with manufacturers, distributors, and dealers throughout the industries they serve. In addition, Northpoint will continue under the ‘Northpoint Commercial Finance,’ brand and all members of the Northpoint management team and personnel are poised to continue to serve the same customers they have in the past.
About Northpoint Commercial Finance
Northpoint Commercial Finance, with offices in Alpharetta, GA, and Burlington, ON, combines experience with advanced technologies, fresh ideas, streamlined processes, and a customer focus formed specifically for the varied needs and goals of each business. Northpoint’s inventory finance offerings drive sales, enhance cash flow, and improve profitability for both manufacturer and dealers. More information about Northpoint and their offerings is available at www.northpointcf.com.