FORT WORTH, Texas -- GENERAL MOTORS FINANCIAL COMPANY, INC. today announced a definitive agreement to acquire FinanciaLinx Corporation. FinanciaLinx is one of the largest independent leasing companies in Canada and provides automobile lease financing solutions to customers throughout the country. The company was founded in 1999 and is based in Toronto.
The acquisition of FinanciaLinx will provide GM Financial a platform to expand its product offerings into Canada. "We are excited about the opportunity to leverage FinanciaLinx’s expertise in the Canadian lease market to increase financing options for GM dealers over time while maintaining FinanciaLinx’s relationships with non-GM dealers," said GM Financial President and Chief Executive Officer Dan Berce.
The transaction is expected to close on April 1. Upon closing, FinanciaLinx will operate as a subsidiary of GM Financial, reporting to Howard Cobham, GM Financial Senior Vice President – Dealer Services Canada.
"We are very pleased to join the GM Financial team and to serve as the cornerstone of their Canadian growth strategy. We look forward to working with GM Financial to expand the product offerings available to GM dealers while continuing to provide leasing options to our current dealer base throughout Canada," said Mike Jan, FinanciaLinx Chief Executive Officer. "Our new relationship with GM Financial provides tremendous opportunities for our employees as we expand and help more customers finance new vehicle purchases."
About GM Financial
General Motors Financial Company, Inc. provides auto finance solutions through auto dealers across the United States. GM Financial has approximately 3,000 employees in the U.S. and Canada, 800,000 customers and $9 billion in auto receivables and leases. The company is a wholly-owned subsidiary of General Motors Company and is headquartered in Fort Worth, Texas. For more information, visit www.americredit.com.