Manufactured Housing News

 

On October 25, 2017 Triad Financial Services, Inc. (Triad) officially entered into a definitive agreement with ECN Capital to acquire Triad Financial Services. ECN Capital is one of North America’s leading finance companies with assets of approximately $5.0 billion dollars. The agreement brings a new source of significant financial resources to the company which will allow more growth and opportunities for Triad and its partners. ECN Capital Corp. (TSX: ECN) under the terms of the agreement will pay US $100 million (C$125 million) in cash for Triad. In addition, ECN Capital has agreed to an incentive compensation plan with senior management that will be based on the achievement of a prescribed return on average equity (ROAE) over the next five years. The transaction, which is expected to close in the first quarter of 2018, is subject to customary closing conditions, including regulatory approvals.

 

Triad Financial Services, Inc. along with investor partners have launched a relief program in response to the devastation that has occurred due to the effects of hurricane Harvey.

The relief program was designed to assist those that have been displaced by hurricane Harvey and are in need of immediate financial housing relief.