Alpharetta, Georgia, January 30, 2018 – This past year proved to be a momentous year for Northpoint Commercial Finance (Northpoint), a leading provider of multi-industry inventory finance solutions throughout the United States and Canada. During 2017, Northpoint was not only acquired by LBC Capital, a division of Laurentian Bank, but also exceeded one billion dollars in receivables.
Northpoint is known for uniting clients and their needs with advanced technology, innovative thinking, a focus on service, and efficient processes tailored for their product segments and its customers. Northpoint CEO, Dan Radley, continues to lead the company towards these initiatives. He states, “The cornerstone of the Northpoint value proposition is customer satisfaction. Our unique approach and solutions that were created with our customers in mind, have led to our growth. The recent acquisition by LBC Capital will only strengthen our ability to drive future growth through innovative programs for the customers we serve.”
Northpoint’s inventory finance offerings drive sales, enhance cash flow, and improve profitability for both suppliers and dealers. After five years of impressive growth, Northpoint was acquired by LBC Capital during Q3 of 2017, an anticipated move as the business evolved. Laurentian Bank, which has been in business for over 170 years, came forward to provide the stability and financial strength with over $43 billion in assets. Not to mention a true cultural alignment, and strategic fit with their various financial products within LBC Capital.
President of LBC Capital, Eric Provost, explains that Laurentian Bank remains focused on facilitating the future evolution and success of Northpoint, and states, “Northpoint has a solid track record and unique expertise in originating, managing, and growing this size of a portfolio, but what we are anticipating is even more future growth in 2018 as we work towards a scalable end-to-end equipment finance platform. From these predictions, Northpoint is slated to remain a long-term and commanding force in this marketplace.”
About Northpoint Commercial Finance
Northpoint Commercial Finance, with offices in Alpharetta, GA, and Burlington, ON, is a diversified inventory finance company that partners with manufacturers, distributors, resellers and dealers to provide flexible financing to their distribution channels. Northpoint combines experience with innovative technologies, fresh ideas, streamlined processes, and customer focus. Additional information about Northpoint is available at www.northpointcf.com.
About Laurentian Bank Financial Group
Founded in 1846, Laurentian Bank Financial Group is a diversified financial services provider whose mission is to help its customers improve their financial health. The Laurentian Bank of Canada and its entities are collectively referred as Laurentian Bank Financial Group (the “Group” or the “Bank”).
With more than 3,700 employees guided by the values of proximity, simplicity and honesty, the Group provides a broad range of advice-based solutions and services to its customers through its businesses: Retail Services, Business Services, B2B Bank and Capital Markets. The Group – with pan-Canadian activities and a presence in the United States – is an important player in numerous market segments.
The Group has $47 billion in balance sheet assets and $32 billion in assets under administration.