NEWS RELEASE TRANSMITTED BY Marketwired
FOR: National Leasing Group Inc.
TSX SYMBOL: CWB
JULY 2, 2014
National Leasing Acquires UMA Finance of New Brunswick
FREDERICTON, NEW BRUNSWICK--(Marketwired - July 2, 2014) - National Leasing
Group Inc. (National Leasing) is pleased to announce its acquisition of Norand
Capital Ltd., operating as UMA Finance, a privately held commercial leasing
company headquartered in Fredericton, New Brunswick. The acquisition, effective
July 1, 2014, advances National Leasing's Eastern Canada growth strategy
and is expected to benefit both companies. Additional terms of the transaction
were not released.
"We expect UMA Finance will meaningfully contribute toward our growth
objectives in Eastern Canada, especially in the forestry, transportation and
construction industries," says Tom Pundyk, president of National Leasing.
"National Leasing has been doing business in Atlantic Canada since 1995,
and the opportunity to leverage the local expertise of the UMA Finance team
will be a tremendous enhancement to our current customer offerings in this
important growth region."
Led by Regional Sales Manager, Mark Roach, UMA Finance shares National
Leasing's commitment to providing the highest level of customer service at
the local level.
"We are excited to join National Leasing and leverage our combined
strengths to benefit our customers," adds Mark Roach. "We will be the
same local team providing the same local service, supported by the power of
National Leasing. Our employees will also benefit from National Leasing's
award-winning corporate culture and professional development opportunities.
This is a true win-win for everyone."
About National Leasing
National Leasing is Canada's equipment leasing expert. Through our
agriculture, medical, golf and turf, and commercial equipment specialists,
National Leasing provides a full range of financing options to over 50,000
Canadian businesses. As a wholly-owned affiliate of Canadian Western Bank
(TSX:CWB) National Leasing is a proud member of the CWB Group of companies.
About UMA Finance
Since 1988, UMA Finance has provided commercial clients with expertise and
responsive service that only local representatives can deliver. From a small
start-up firm acquiring their first piece of equipment to a large industrial
company with eyes on expansion, UMA Finance guides customers every step of the
way. With representatives throughout Newfoundland and New Brunswick, UMA
Finance is more than a financial partner, they are a neighbour.
FOR FURTHER INFORMATION PLEASE CONTACT:
Communications Specialist, National Leasing
Office: 204-954-9000 ext. 2346
INDUSTRY: Financial Services - Commercial and Investment Banking, Financial
Services - Retail Banking
-0- Jul/02/2014 13:00 GMT
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