TORONTO, March 18, 2015 -Chesswood Group Limited (“Chesswood”) (TSX: CHW) announced that it had successfully completed the acquisition of Blue Chip Leasing Corporation (“Blue Chip”).
Chesswood’s acquisition enables Blue Chip to offer competitive financing solutions to customers, brokers and vendors while maintaining exceptional customer service across an ever-growing number of financing programs in most credit segments.
The entire Blue Chip team will remain with the company and apply their expertise in support of Chesswood’s growth in Canada. Chesswood is a major competitor in this market in the U.S. through its wholly owned subsidiary Pawnee Leasing Corporation.
Northstar is Chesswood’s Canadian non-prime small ticket leasing company. Northstar’s products will become part of Blue Chip’s offering to its broker customers. Blue Chip will now be able to offer funding for transactions in most credit segments, prime, sub-prime and start-up businesses.
Chesswood now is the only North-American small ticket equipment finance business with a national presence in both Canada and the United States.