Announced
Completed
Financials
Tags
Canada
Majority
mortgage solutions
Acquisition
Private Equity
Single Bidder
financial sercives
Consumer Lending
Private
financial service providers
personal loans
Friendly
Cross Border
Completed
Synopsis
Stephen Smith, Centerbridge Partners, and Ontario Teachers' Pension Plan-backed Duo Bank of Canada, a Toronto-based financial services provider, completed the acquisition of Fairstone Financial Holdings, a provider of credit solutions, from private equity firms J.C. Flowers and Varde Partners. Financial terms were not disclosed. "We're very pleased to be joining forces with a Canadian financial services institution that shares our customer-focused commitment and community-driven approach to helping everyday Canadians access financial solutions that fit their needs. We look forward to enhancing the complementary growth potential of both businesses," Scott Wood, Fairstone President, and CEO.
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