Northpoint Commercial Finance, which was acquired by LBC Capital in the third quarter of 2017, exceeded $1 billion in receivables.
After five years of growth, Northpoint — a provider of inventory finance solutions — was acquired by LBC Capital, a division of Laurentian Bank of Canada.
“The cornerstone of the Northpoint value proposition is customer satisfaction,” said Northpoint CEO Dan Radley in a statement. “Our unique approach and solutions that were created with our customers in mind have led to our growth. The recent acquisition by LBC Capital will only strengthen our ability to drive future growth through innovative programs for the customers we serve.”
Laurentian Bank remains focused on facilitating the evolution and success of Northpoint, according to LBC Capital president Eric Provost.
“Northpoint has a solid track record and unique expertise in originating, managing and growing this size of a portfolio, but what we are anticipating is even more future growth in 2018 as we work toward a scalable end-to-end equipment finance platform,” Provost said. “From these predictions, Northpoint is slated to remain a long-term and commanding force in this marketplace.”