GE Commercial Finance Completes Acquisition of CitiCapital's Transportation Financial Services Group
STAMFORD, CT — GE Commercial Finance announced on January 31 that it has completed its previously announced $4.6 billion acquisition of CitiCapital's Transportation Financial Services Group (CTFSG). The business will continue to be located in the greater-Dallas, Texas area and Toronto, Canada.
CTFSG, which was a part of Citigroup, provides secured loans, and operating and finance leases for approximately 196,000 heavy and medium duty commercial trucks and trailers through a variety of customer channels, including truck and trailer dealers, commercial fleets and truck owners/operators. CTFSG has approximately 600 employees and serves more than 49,000 customers throughout North America.