Add-on Acquisition • Financial Services

Axis Acquires Cars On Credit Financial

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

Acquisition Context

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.

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

Target Company

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 Overview 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 Context for Buyer	#
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

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