M&A Deal Summary

Textron Financial Acquires Litchfield Financial

On September 23, 1999, Textron Financial acquired financial services company Litchfield Financial for 183M USD

Acquisition Highlights
  • This is Textron Financial’s 4th transaction in the Financial Services sector.
  • This is Textron Financial’s largest (disclosed) transaction.
  • This is Textron Financial’s 4th transaction in the United States.
  • This is Textron Financial’s 1st transaction in Massachusetts.

M&A Deal Summary
Date 1999-09-23
Target Litchfield Financial
Sector Financial Services
Buyer(s) Textron Financial
Deal Type Add-on Acquisition
Deal Value 183M USD

Target

Litchfield Financial

Williamstown, Massachusetts, United States
website
Litchfield is a commercial finance company specializing in receivables-based finance agreements for the vacation ownership (timeshare) industry and other commercial finance niches. Litchfield has offices in Williamstown, Massachusetts; Atlanta, Georgia; Denver, Colorado; and Scottsdale, Arizona.

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Buyer(S) 1

Buyer

Textron Financial

Providence, Rhode Island, United States

website

Category Company
Sector Financial Services
DESCRIPTION

Textron Financial Corp. is a provider of innovative financing solutions for Textron customers throughout the world. Company single mission is to support those customers by providing financing options specific to the needs of each individual transaction. Company team draws on first-hand experience that was created by developing financing solutions for customers in over 80 countries.

DEAL STATS #
Overall 4 of 5
Sector (Financial Services) 4 of 5
Type (Add-on Acquisition) 2 of 2
State (Massachusetts) 1 of 1
Country (United States) 4 of 5
Year (1999) 4 of 4
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-08-30 Green Tree Financial Servicing - Franchise & Aircraft Business

United States

Green Tree Financial Servicing Corp. - Franchise & Aircraft Business provides secured financing to the general aviation and franchising industries through operations in St. Paul, Minnesota and Tempe, Arizona. The aviation finance business will continue to service owner operated aviation customers while the remainder of TFC's aviation finance activity will continue to be handled through its Fort Worth, Texas, office.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-06-05 STI Credit

Atlanta, Georgia, United States

STI Credit Corp. (SunTrust Credit) is a national provider of commercial finance services to the small business market. SunTrust Credit has approximately $400 million in receivables.

Buy -
Mergr

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