CAN Capital Adds Major Equipment Finance Division, New Product for Brokers to Offer

The synergy between the working capital and equipment finance industries continues to grow with CAN Capital’s latest acquisition. CAN acquired the equipment finance portfolio and platform of Republic Bank Finance and the division will continue to operate under the name of CAN Capital Equipment Finance. A press release announced the deal this morning.

CAN’s broker network and referral partners will be able to able to offer this product alongside CAN’s existing product suite.

“CAN has a large and established network of broker relationships, many of whom are already providing an equipment finance option to their small business customers,” said CAN Capital CEO Ed Siciliano to deBanked. “By adding an equipment finance product, we believe we will deepen our relationships and better serve our valued ISOs, especially those already offering this product.”

The equipment finance industry is massive. Recent valuations put it at $1.3 trillion annually.

In the official release, Siciliano said, “This acquisition is a natural extension of CAN Capital’s long-term growth strategy. We have built CAN Capital to be a scaled, durable platform that can grow both organically and through strategic acquisitions. Adding an equipment finance portfolio and platform enhances our product breadth, strengthens our market position, and allows us to serve more businesses with the right capital at the right time. This transaction reflects the momentum of our business and our continued confidence in the growth trajectory of CAN Capital.”

Sean Murray is the President and Chief Editor of deBanked and the founder of the Broker Fair Conference. Connect with me on LinkedIn or follow me on twitter. You can view all future deBanked events here.