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Accord Financial | Financière Accord
Company typePublic
TSX: ACD
IndustryCommercial Lending
Founded1978
Headquarters
Toronto, Ontario
,
Canada
Areas served
Key people
  • Tom Henderson (President & CEO Corp.)
  • Ken Hitzig (Founder & Chaiman of the Board)
  • Fred Moss (President, Montreal)
  • James Jang (President, Vancouver)
  • Jeffry Pfeffer (Managing Partner, Chicago)
  • Jim Bates (President, Toronto)
  • Matthew Helderman (CEO & Co-founder, Santa Monica)
  • Terry Keating (President, Greenville)
  • Brian Hesje (Chairman of the Board)
Products
RevenueIncrease CAD$ 31.4 million[1] (2017)
Number of employees
XXX[1]
Websitewww.AccordFinancial.com

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

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 increased by 46 times, reaching $92 million. Over the 10 years that followed, Accord Financial made three 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) and 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 in 2012 it introduced AccordOctet, a new program offering supply chain finance[5]. Subsequently, the company acquired Brome Capital’s portfolio in 2013[6] and completed the strategic 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 a strategic 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].

Memberships

See also

References

  1. ^ a b "Accord Financial Annual Report 2017". Accord Financial. 2018-08-31. Retrieved 2018-08-31. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  2. ^ "Accord Financial (TSX:ACD) Company Profile". Toronto Stock Exchange (TMX Group Ltd). 2018-08-31. Retrieved 2018-08-31. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  3. ^ "Company Overview of Accord Financial". Bloomberg. 2018-08-31. Retrieved 2018-08-31. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  4. ^ "Accord Announces Acquisition of iTrade Finance Inc". System for Electronic Document Analysis and Retrieval (SEDAR). 2005-11-02. Retrieved 2018-08-31. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  5. ^ "AccordOctet will revolutionize trade sourcing in China". Canada Newswire. 2012-06-12. Retrieved 2018-08-31.
  6. ^ "Accord Financial Acquires Portfolio of Loans from Brome Capital". System for Electronic Document Analysis and Retrieval (SEDAR). 2013-11-11. Retrieved 2018-08-31. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  7. ^ "Leasing Company Acquisition Fuels Accord's Growth Strategy". System for Electronic Document Analysis and Retrieval (SEDAR). 2018-08-31. Retrieved 2018-08-31.
  8. ^ "Accord Financial Corp. completes strategic investment in film and television financier BondIt Media Capital". Canada Newswire. 2017-07-17. Retrieved 2018-08-31.
  9. ^ "CapX Partners Joins Accord Financial Corp. Family". PR Newswire. 2017-10-27. Retrieved 2018-08-31.
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