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Liquid Capital Announces Purchase of TCE Capital Corporation

May 17, 2016, 08:01 AM
Filed Under: Mergers & Acquisitions

Liquid Capital Corp., a Canadian-founded trade finance and asset-based lending company, announced that it has entered into a purchase and sale agreement where it has acquired the assets and associated goodwill of TCE Capital Corporation, a boutique asset-based lender based in Toronto, Canada.

Launched in 1992, TCE Capital was founded and has been managed by experienced entrepreneurs and has historically funded in excess of $400 million annually in asset-based loans and transaction volume, with a focus on transaction sizes ranging from $250,000 up to $4 million.

"We are pleased to have completed the acquisition of certain of TCE Capital's assets, while bringing the knowledge and expertise of TCE Capital's senior management and risk team into Liquid Capital," said Sol Roter, CEO and co-founder of Liquid Capital. "This transaction is part of the continued evolution of Liquid Capital's trade finance and asset based  lending  solution  set.  Our  Principal  network  and  clients will benefit from our expanding product line, and our continued ability to be a creative and driving force in the industry."

"From our first  meeting,  it  was  clear  that  Liquid  Capital  was  the  ideal  partner  to  move  our vision forward," Gus Baril, President of TCE Capital, intones. "This timely transaction marks, in a positive way, the end of the beginning for all of us at TCE Capital. Our management, staff, clients and suppliers are in good hands as the significant  Liquid  Capital  Principal  network,  capable management, financial capability and international presence that is Liquid Capital bodes well for the next chapter."

Liquid Capital entered into a joint venture with Next Edge Capital Corp. in 2015 to co-fund investments in receivables sourced by and through Liquid Capital's principal distribution channel, for investment by Next Edge's Next Edge Private Debt Fund ("The Next Edge Fund").  The Next Edge Fund has grown to approximately $45 million in assets and will continue to grow as Liquid sources quality receivable and asset based lending transaction volume through its network of originators in Canada and the United States.

Since 1999, Liquid Capital Corporation has been operating in the factoring and trade finance business. The  company  has  processed  over  $2  billion  in  accounts  receivables  and  trade  finance  transactions through both its Canadian headquarters in Toronto and US headquarters in Dallas. The company, with 90 points of presence in  five  countries  and  on  four  continents,  locally  originates, manages, and funds accounts receivables, asset-based lending  and  trade  finance  transactions. 

TCE Capital has provided alternative funding across Canada since its inception in 1992 and has been a pioneer in developing financing products aimed at Canadian entrepreneurs. An emphasis on near bank lending and flexible financing has allowed Canadian business the resources to start, grow and expand for the last 24 years.

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