M&A Deal Summary

Axis Acquires Cars On Credit Financial

On December 21, 2017, Axis acquired financial services company Cars On Credit Financial for 11M CAD

Acquisition Highlights
  • This is Axis’ 1st transaction in the Financial Services sector.
  • This is Axis’ largest (disclosed) transaction.
  • This is Axis’ 1st transaction in Canada.
  • This is Axis’ 1st transaction in Ontario.

M&A Deal Summary
Date 2017-12-21
Target Cars On Credit Financial
Sector Financial Services
Buyer(s) Axis
Deal Type Add-on Acquisition
Deal Value 11M CAD

Target

Cars On Credit Financial

Newmarket, Ontario, Canada
Cars on Credit is an independent, sub-prime automotive finance company headquartered in Newmarket, Ontario and was founded in 2006. Since inception, it has originated over $120 million in loans and leases and has over 400 active used car dealers in its network.

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Buyer(S) 1

Buyer

Axis

Oakville, Ontario, Canada
Category Company
Sector Financial Services
Revenue 41M CAD (2023)
DESCRIPTION

Axis is sub-prime auto financing company based in Toronto, ON. Axis provides its financing through a network of around 300 dealers in the GTA. Axis is based in Oakville, Ontario.

DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2017) 1 of 1
Size (of disclosed) 1 of 1
Mergr

Product

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