Transaction Expands CAN Capital’s Product Capabilities and Accelerates Growth Strategy
CAN Capital, a leading provider of access to alternative financing solutions for small and medium-sized businesses, today announced that it has acquired the equipment finance portfolio and platform of Republic Bank Finance, a division of Republic Bancorp, Inc. (NYSE: RBCAA), headquartered in Lexington, Kentucky. The transaction further strengthens CAN Capital’s position as a diversified, growth-focused specialty finance company and expands its ability to serve businesses with flexible, financing solutions.
The acquisition adds a well-established equipment finance portfolio and operational platform to CAN Capital’s existing suite of working capital products, enhancing its ability to meet the evolving capital needs of small businesses across a wide range of industries. Going forward, CAN Capital will leverage its technology, national footprint, robust data and underwriting capabilities, and deep partner ecosystem to scale the equipment finance platform and deliver additional value to customers, brokers, and strategic partners.
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“This acquisition is a natural extension of CAN Capital’s long-term growth strategy,” said Ed Siciliano, Chief Executive Officer. “We have built CAN Capital to be a scaled, durable platform that can grow both organically and through strategic acquisitions. Adding an equipment finance portfolio and platform enhances our product breadth, strengthens our market position, and allows us to serve more businesses with the right capital at the right time. This transaction reflects the momentum of our business and our continued confidence in the growth trajectory of CAN Capital.”
CAN Capital has provided access to over $8 billion to small businesses nationwide and supports over 80,000 customers across a broad range of industries, providing access to fast, flexible financing solutions designed to help businesses grow, manage cash flow, and invest in their operations. The addition of equipment financing capabilities allows CAN Capital to deepen relationships with existing customers while expanding its reach to new borrowers seeking equipment-backed financing solutions.
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