Accord Financial | Financière Accord
| File:Accord Financial Logo.png | |
| Public | |
| Traded as | TSX: ACD |
| ISIN | 🆔 |
| Industry | Commercial Lending |
| Founded 📆 | 1978 |
| Founder 👔 | |
| Headquarters 🏙️ | , , |
Areas served 🗺️ | |
Key people |
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| Products 📟 | |
| Revenue🤑 |  CAD$ 31.4 million.[1] (2017) |
| Members | |
Number of employees | |
| 🌐 Website | www.AccordFinancial.com |
| 📇 Address | |
| 📞 telephone | |
Accord Financial is a finance company specializing in commercial lending that provides credit facilities of $5 thousand to $20 million to small and medium-sized enterprises (SMEs) throughout the United States and Canada.
The company is publicly listed on the Toronto Stock Exchange (TSX:ACD)[2], with offices in Chicago, Greenville, Santa Monica, Montreal, Toronto and Vancouver.
Accord’s asset-based lending finance programs include accounts receivable financing, retail inventory finance, equipment finance, supply chain finance, factoring, accounts receivable management and small business loans.
History[edit]
Accord Financial was established in 1978, commencing factoring operations in Toronto and Montreal after raising $2 million in start-up capital. In 1979, the company’s first full year of operations, the factoring volume reached $92 million. Over the 10 years that followed, Accord Financial made 3 acquisitions:
- Kerlen Factors Ltd. in 1984;
- the Canadian factoring business of Heller Financial in 1986; and
- U.F. Financial Services Inc. in 1990.[3]
In 1992 Accord Financial went public on the Toronto Stock Exchange (TSX), after which it acquired majority control of JTA Factoring in the US and 100% of Montcap Financial Corp. in Canada. Three more acquisitions brought further growth before the end of the 1990s:
- the acquisition of the balance of Accord Financial, Inc. (formerly JTA Factoring);
- the totality of Skyview International Finance Corp., a company specialized in import finance, in 1996; and
- the factoring portfolio of Richards Capital Corp. (Dallas) in 1998.
In 2005 Accord Financial acquired iTrade Finance[4], a company specializing in financing international transactions, and it introduced a new program offering supply chain finance in 2012[5]. Subsequently, the company acquired Brome Capital’s portfolio in 2013[6] and completed the acquisition of Varion Corp. (dba Accord Small Business Finance), a Canadian equipment finance company, in 2014[7].
2017 brought further growth to Accord Financial with the completion of an investment in Santa Monica-based film and television financier BondIt Media Capital in July[8] and the acquisition of a 90% interest in CapX Partners, a Chicago-based equipment finance business, in October[9]
In 2018, following these acquisitions, Accord reported record funds employed of $255 million[10] and signed a new senior secured revolving credit facility totaling $292 million with a syndicate of banks.[11]
Memberships[edit]
- Association for Corporate Growth (ACG)
- International Factoring Association (IFA)
- Factors Chain International (FCI)
- Turnaround Management Association (TMA)
- Commercial Finance Association (CFA)
- Alliance of Merger & Acquisition Advisors (AM&AA)
- Southern Capital Forum (SFC)
See also[edit]
- Toronto Stock Exchange (TSX)
- Commercial Lending
- Asset-Based Lending
- Factoring, also known as Accounts Receivable Financing
- Reverse Factoring, also known as Supply Chain Finance
References[edit]
- ↑ "Accord Financial Annual Report 2017". Accord Financial. 2018-08-31. Retrieved 2018-08-31.
- ↑ "Accord Financial (TSX:ACD) Company Profile". Toronto Stock Exchange (TMX Group Ltd). 2018-08-31. Retrieved 2018-08-31.
- ↑ "Company Overview of Accord Financial". Bloomberg. 2018-08-31. Retrieved 2018-08-31.
- ↑ "Accord Announces Acquisition of iTrade Finance Inc". System for Electronic Document Analysis and Retrieval (SEDAR). 2005-11-02. Retrieved 2018-08-31.
- ↑ "AccordOctet will revolutionize trade sourcing in China". Canada Newswire. 2012-06-12. Retrieved 2018-08-31.
- ↑ "Accord Financial Acquires Portfolio of Loans from Brome Capital". System for Electronic Document Analysis and Retrieval (SEDAR). 2013-11-11. Retrieved 2018-08-31.
- ↑ "Leasing Company Acquisition Fuels Accord's Growth Strategy". System for Electronic Document Analysis and Retrieval (SEDAR). 2018-08-31. Retrieved 2018-08-31.
- ↑ "Accord Financial Corp. completes strategic investment in film and television financier BondIt Media Capital". Canada Newswire. 2017-07-17. Retrieved 2018-08-31.
- ↑ "CapX Partners Joins Accord Financial Corp. Family". PR Newswire. 2017-10-27. Retrieved 2018-08-31.
- ↑ "Accord Announces Record Funds Employed". System for Electronic Document Analysis and Retrieval (SEDAR). 2018-09-23. Retrieved 2018-09-23.
- ↑ "Accord Financial Corp. Inks Increased Credit Facility to Support Growth". System for Electronic Document Analysis and Retrieval (SEDAR). 2018-09-23. Retrieved 2018-09-23.
External links[edit]
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