SecurCapital Announces Strategic Acquisition
LOS ANGELES / April 10, 2019 / SecurCapital Corp today announced its Board of Directors has authorized its executive team to explore strategic acquisitions and enter formal due diligence with its first target company in the factoring, asset-based lending industry.
SecurCapital’s executive team last week attended the International Factoring Association (IFA) 25th Annual Convention in San Diego. The IFA is the largest association of commercial finance companies in the world. Members include factoring companies, asset-based lenders and other receivables finance companies.
“We were very pleased to attend this year’s IFA annual meeting which led to many new strategic partnerships, lender engagements, leading edge cloud-based solutions and potential acquisition discussions,” said Robby Fleischmann, SVP, Strategic Partnerships at SecurCapital.
“IFA is the world’s largest conference dedicated to banks and finance companies that offer financing through factoring and accounts receivable financing,” continued Steve Russell, CEO SecurCapital. “We are pleased with our initial discussions last week toward pursuing several exciting acquisition opportunities. Today, our Board approved commencement of initial financial, commercial, tax and legal due diligence. We anticipate a quick turnaround on diligence moving toward a 2nd Quarter close” said Russell.