NEW YORK, June 8, 2017 /PRNewswire/ -- Flexpoint Ford, LLC ("Flexpoint"), a private equity firm focused on the financial services and healthcare sectors, today announced that Service Finance Company ("SFC") has agreed to be acquired by ECN Capital Corp. (TSX:ECN; "ECN Capital"), a leading North American commercial finance company with total owned and managed assets of more than $4.6 billion. SFC is a technology-enabled, point-of-sale originator of financing for home improvement and solar projects in which Flexpoint has held a significant minority equity stake since October 2015.

SFC, a nationally licensed sales finance company and third-party servicer authorized to conduct business in all fifty states, Washington D.C. and Puerto Rico, offers a technology-enabled platform that allows contractors to provide financing solutions to consumers as part of the in-home sales process. Through its exclusive industry partnerships, SFC is able to offer qualified borrowers a broad-based set of financing products that are distributed via an ever-expanding national network of home improvement and solar contractors.

"We believe this transaction validates the strength of the platform we have built," said Mark Berch, President of SFC. "Flexpoint has been a truly valuable partner over the past eighteen months.  Their specialty finance and financial technology expertise have helped our management team build SFC into a market leader. Going forward, we are excited to partner with ECN Capital to leverage our combined strengths for continued growth and product diversification."

"It has been a tremendous thrill and pleasure to partner with Mark Berch and the entire SFC team. SFC's differentiated business model and the management team's expertise in the home improvement financing market allowed for growth that exceeded our expectations," commented Steven Begleiter, Managing Director of Flexpoint. "We are confident that SFC is well-positioned for the future and with ECN Capital's support, the company will continue its incredible growth trajectory and solidify its market leadership position."

Daniel Edelman, Principal of Flexpoint, said "Flexpoint conducted a long, in-depth analysis of the point-of-sale consumer finance sector searching for an opportunity to invest. What we found in SFC was a specialist in the home improvement and solar sectors with a unique combination of technology, data, and strategic partnerships that allows SFC to provide its bank partners with access to high-quality consumer credit."

The transaction is expected to close in the third quarter of 2017, subject to customary regulatory approvals and satisfaction of other closing conditions. Following the transaction, SFC will operate as a subsidiary of ECN Capital.

Axxcess Capital Partners and Arete Wealth Management served as financial advisors to Service Finance Company.

For inqueries contact Flexpoint at 646-217-7565

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/flexpoint-ford-llc-announces-the-sale-of-service-finance-company-to-ecn-capital-corp-300471015.html

SOURCE Flexpoint Ford, LLC