Element Fleet Management Corp. has entered into a strategic funding agreement with Blackstone Credit & Insurance, involving a CAD $500 million portfolio of Canadian fleet lease receivables to optimize its funding profile and enhance growth opportunities.

Information on the Target

Element Fleet Management Corp. (TSX: EFN) is recognized as the largest publicly traded automotive fleet manager globally. The company specializes in providing comprehensive mobility solutions designed to optimize fleet performance for clients in North America, Australia, and New Zealand. Element's services span several areas including vehicle acquisition, maintenance, route optimization, risk management, and remarketing, while also advising on strategies for fleet decarbonization and the integration of electric vehicles.

With its extensive expertise and large scale as one of the leading fleet solutions providers in its markets, Element is dedicated to enhancing client efficiency and performance. The recent strategic funding agreement further supports Element's position by diversifying its funding mechanisms and showcasing the quality of its asset origination platform.

Industry Overview in Canada

The fleet management industry in Canada has been experiencing significant advancements, driven by technological innovations and an increasing focus on sustainability. As environmental concerns intensify, businesses