Private equity-backed Duo Bank of Canada completed the acquisition of Fairstone Financial Holdings.

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.