The Car and Truck Fleet and Leasing Management Magazine

Element's Senior Managers Help Finance PHH Arval Acquisition

June 20, 2014

Element Financial Corp.'s senior management team and Board of Directors has purchased $11.2 million in Element securities to help finance the Canadian fleet financier's acquisition of PHH Arval.

Toronto-based Element Financial had floated $1.42 billion in municipal debt including subscription receipts, debentures, and preferred shares to finance its acquisition of PHH Corp.'s fleet management unit.

"A personal financial commitment of this scale from those of us who are closest to the inner workings of this company is supported by the stronger than forecast origination growth that we are seeing across each of our four verticals," said Steven K. Hudson, Element's chairman and CEO.

The sale is expected to close before July 31.

Twitter Facebook Google+


Please note that comments may be moderated. 
Leave this field empty:


Fleet Tracking And Telematics

Todd Ewing from Verizon Connect will answer your questions and challenges

View All


Fleet Management And Leasing

Jack Firriolo from Merchants will answer your questions and challenges

View All


Fuel Management

Bernie Kanavagh from WEX will answer your questions and challenges

View All


Up Next

More From The World's Largest Fleet Publisher