Axis Auto Finance to buy Trend Financial for $29.3 mln

Axis Auto Finance has agreed to acquire Trend Financial Corp, a Toronto-based sub-prime automotive lender, for about $29.3 million in cash and shares. The deal is expected to close on or about April 2. Ilja Troitschanski, founder and president of Axis, an alternative auto financing firm also based in Toronto, said the acquisition will double the firm's portfolio of net finance assets to approximately $110 million. It was also announced by Axis that ECN Capital's Todd Hudson has been hired as CEO to lead the organization alongside Troitschanski.

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