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ECN Capital looks for acquisition targets after sale to PNC Add to ...

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Steve Hudson’s specialty lender, ECN Capital Corp., is fuelling up for its next round of acquisitions through the $1.25-billion (U.S.) sale of its U.S. commercial- and vendor-finance business.

On Tuesday, ECN said it would unload a business that helps companies lease equipment in the United States – everything from construction diggers to big rigs and even large kitchen appliances for franchises. The buyer is Pittsburgh-based bank PNC Financial Services Group, and the value of the basket of financial leases included in the deal is nearly $1.1-billion.

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