REGINA, SK and CALGARY, AB, - Concentra Financial Services Association (“Concentra”) and Essex Lease Financial Corporation (“Essex”) announced the hiring of key Essex staff by Concentra, in conjunction with an enhanced business agreement between the two parties.
Building on their existing working relationship, Concentra and Essex have recognized the opportunity to leverage their respective business capacities in commercial equipment financing, thereby creating a stronger competitive advantage in their respective markets.
The arrangement means a number of key Essex staff will become members of the Concentra team. Leading the incoming group is Brian Joyner, a long-term industry executive, who brings with him a decades-long track record of success.
Concentra will also work with Essex to provide ongoing business enhancements in the existing relationship to facilitate additional growth of Essex business lines.
“Brian Joyner and his team have an unparalleled reputation for providing consistency of service and credit approach” said Terry Wensley, General Manager Leasing, Concentra. He continued, “This opportunity provides Concentra with greatly increased origination capacity and strengthens our ability to meet credit union demand for high-quality leasing assets.”
“After working with Concentra for a number of months, it made sense for both parties to leverage our respective strengths. Concentra can provide Brian Joyner’s team with greater resources. Essex will continue to expand our own brand and market share with Concentra as a key strategic supplier” said Russ Paton, Managing Director, Essex.
Both parties would like to acknowledge the role played by The Alta Group Canada in facilitating this transaction.
For more information:
Tracy Laschilier, Manager, Marketing and Communications, Concentra
Ross Sten, CEO, Essex Lease Financial Corporation
Hugh Swandel, Senior Managing Director, The Alta Group
About Concentra With deep roots in the co-operative system, Concentra is a federally-regulated financial institution with over $33 billion in assets under administration, including over $7 billion in on-balance sheet assets. Currently serving over 85 percent of Canadian credit unions, Concentra continues to expand its reach as Canada’s primary provider of wholesale finance, trust and leasing solutions to credit unions from coast to coast. We provide leadership, expertise and financial clout to improve financial performance, diversify risk and meet member needs.
Since 1998, the Commercial Leasing Services division of Concentra has provided specialized access to commercial equipment leasing and financing, focused on competitive deal structures and attractive pricing.
About Essex Lease Financial Corporation
Essex Lease Financial Corporation is a Canadian based financial services company with its head office in Calgary, Alberta. For three decades, Essex has provided new and used equipment financing and leasing solutions to Canadian business.
About The Alta Group
The Alta Group is the leading global consultancy dedicated exclusively to the business of equipment leasing and asset finance. Since 1992, Alta has represented equipment leasing and finance companies, financial institutions, manufacturers, and service providers, offering management consulting and expertise in global market entry, vendor and captive finance, professional development, legal services, asset management, mergers and acquisitions, and application consulting. For information on the group’s services in the United States and Canada, Latin America, Europe, the Middle East and Africa, China, and Asia-Pacific, visit http://www.thealtagroup.com