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Home improvement lender Financeit buys rival Simply Group Financial

TORONTO 鈥� Financeit sa国际传媒 Inc. says it has acquired home improvement financing rival Simply Group Financial. Financial terms of the deal were not disclosed.
Canadian Press
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The Financeit sa国际传媒 Inc. logo is shown in a handout. The company says it has acquired home improvement financing rival Simply Group Financial. THE CANADIAN PRESS/HO

TORONTO 鈥� Financeit sa国际传媒 Inc. says it has acquired home improvement financing rival Simply Group Financial.

Financial terms of the deal were not disclosed.

Financeit provides point-of-sale financing for the home improvement, recreational vehicle and retail markets.聽

Financeit chief executive Michael Garrity says the deal is a milestone for the company and expands its footprint.

The Toronto-based company was founded in 2011.

It was acquired by InterVest Capital Partners from Goldman Sachs in 2022.

This report by The Canadian Press was first published June 26, 2023.

The Canadian Press