Chesswood Group | chesswoodgroup.com
Chesswood Group is a financial services company, which offers micro and small-ticket equipment financing to small businesses.
CHESSWOOD GROUP CEO
President & CEO
How would you rate Barry Shafran as a CEO?
What is Chesswood Group's revenue?
How many people work at Chesswood Group?
Followers on Owler
Add a company or two. We won't bite!
Add a new competitor:
Thanks for your contribution!
Recalculating The Competitive Graph now...
Chesswood Group was founded in 01/1982 and its headquarters is located in Toronto, Ontario, CA. Chesswood Group has $69.3M in revenue and 99 employees.
Coming soon with Owler Pro!
If you'd like to learn more, please contact us at email@example.com
Coming soon with Owler Pro!
If you'd like to learn more, please contact us at firstname.lastname@example.org
|COMPANY ACQUIRED||ACQUISITION DATE||AMOUNT||DESCRIPTION|
|Ecohome Financial||Mar 2015||undisclosed||EcoHome Financial provides consumer financing and loan products to HVAC and home improvement markets.|
|Bluechip Leasing||Mar 2015||undisclosed||Blue Chip Leasing Corporation engage in equipment leasing services in Canada.|
Chesswood Group has acquired 2 companies.Chesswood Group's latest acquisition was Ecohome Financial in Mar 2015. EcoHome Financial provides consumer financing and loan products to HVAC and home improvement markets.
|Chesswood Group: Chesswood Renews $250MM Credit Facility with Lending SyndicateChesswood Group Limited announced that it has renewed its US$250 million corporate revolving credit facility for a term of three years, expiring in December 2020. The existing credit facility was due to expire in December 2019. Chesswood also announced that it will redeem all $20 million of its outstanding 6.5% convertible debentures (the "Debentures") in January 2018, well ahead of their maturity date of December 31, 2018."We're very pleased that our syndicate of lenders has once again demonstrated their support of our team and the growth of our businesses by this early renewal of our credit facility for another three years," said Chesswood's President and CEO, Barry Shafran. "Our bankers have also reflected that support in consenting to the use of our revolving credit facility to redeem our debentures almost a year before they would mature, providing us with pre-tax interest savings of approximately $400,000 in 2018," added Shafran.The Company had drawn US$148.5 million under its credit facility as of the end of November. Chesswood's overall leverage remains modest, reflecting a strong balance sheet well positioned for portfolio growth."We're also thankful that our lending syndicate continues to be comprised of leading Canadian and U.S. banks," added Shafran. The syndicate of six banks was once again led by Royal Bank of Canada and includes BBVA Compass Bank, BMO Harris Bank, TD Securities, National Bank of Canada and Laurentian Bank of Canada.Chesswood will exercise its right to early redemption of all the Debentures. The redemption will be effective January 17, 2018. Upon redemption, Chesswood will pay to the holders of the Debentures a redemption price equal to the outstanding principal amount together with all accrued and unpaid interest up to but excluding the redemption date.Equipment Finance Advisor|
|Chesswood Group: Chesswood Group Reports Earnings Drop Due to Windset Capital Wind DownChesswood Group reported its results for the third quarter and nine-months ended September 30, 2017.The Company generated operating earnings of $6.7 million in the quarter and $24.1 million for the nine-month period, compared to $7.2 million and $24.3 million respectively, last year. The results for the third quarter and nine-months of the prior year included greater operating earnings of $346,000 and $1.2 million respectively from Windset Capital, which has been wound down in 2017."Our originations generated another quarter of excellent growth for Chesswood's finance receivables which have grown to almost $650 million," said Barry Shafran, Chesswood's President and CEO. "The seasonal rise in delinquencies and charge-offs that we experienced in the back half of the past few years was mirrored again in this quarter. We added $2.4 million to our non-cash portfolio reserve and provision for credit losses this quarter, compared to $1.7 million in the third quarter of 2016, while our portfolio is approximately $140 million larger than one year ago," said Shafran."The increase in the reserve was driven primarily by a rise in delinquency in our highest-risk product, which is returning to normal performance levels following the immediate post crisis years in which we enjoyed unprecedented credit quality due to the contraction of credit. While we continue to generate strong risk-adjusted yields and returns from this segment of our business, we have tightened our underwriting and do not expect any near-term growth from this portion of our portfolio," said Shafran. "This is the same approach we took in past cycles and is an appropriate risk-management step in the face of what we consider to be overly aggressive competitive behavior in this market segment. This normal effect from a change in the cycle underscores our strategic considerations in moving to further diversify our product offerings' risk profiles by significantly growing our prime and near-prime portfolios," added Shafran.Equipment Finance Advisor|
|Chesswood Group: Chesswood, Pawnee Leasing Close First U.S. SecuritizationChesswood Group Limited announced that its largest subsidiary, Pawnee Leasing Corporation, has closed a new US$75 million non-recourse asset backed facility with Capital One, N.A. through its Pawnee Receivable Fund I LLC.The facility is secured by US$93.6 million in gross receivables from Pawnee's prime portfolio of equipment leases and loans and repayment terms are based on the cash flow of the underlying portfolio. The proceeds will be used to pay down Chesswood's existing revolving credit facility. Chesswood's outstanding indebtedness under its US$250 million revolving facility will total approximately US$140 million following the repayment. Bryant Park Capital acted as exclusive placement agent and financial advisor for Pawnee in this transaction.Established in 1982, Pawnee specializes in equipment leasing and financing for assets up to US$200,000, for a wide range of credit profiles from small businesses across the U.S. including "start-up entrepreneurs" and more established businesses in the A, B, and C credit market segments."Our consistent growth since 2009 has changed the overall composition of our portfolio, which now exceeds $600 million in gross receivables, 50% of which are in the prime market segment. This changing mix has allowed us to access the U.S. securitization market and further expand and diversify our treasury," said Barry Shafran, Chesswood's President and CEO. "We're also very pleased to have completed our first U.S. securitization with Capital One, a top ten U.S. bank and a long-time supporter of the equipment finance industry," added Shafran. "This is another milestone in our continuing growth and reflects Pawnee's unique ability to offer customers financing in all credit segments of the market," said Gary Souverein, Pawnee's President.Through two wholly-owned subsidiaries in the U.S. and Canada, Chesswood Group Limited is North America's only publicly-traded commercial equipment finance company focused on small and medium-sized businesses. Colorado-based Pawnee Leasing Corporation, founded in 1982, finances a highly diversified portfolio of commercial equipment leases and loans through established relationships with over 600 independent brokers in the lower 48 states. In Canada, the company's subsidiary Blue Chip Leasing Corporation has been originating and servicing commercial equipment leases and loans since 1996, and today operates through a nationwide network of more than 50 independent brokers.Equipment Finance Advisor|
|Chesswood Group: Capital One Provides $75MM ABL to Chesswood GroupToronto-based Chesswood Group's subsidiary Pawnee Leasing closed a new S$75 million non-recourse asset-backed facility with Capital One. This is the company's first U.S.-based securitization.ABF Journal|
|Chesswood Group: Chesswood Group Ltd (CHW:CA) to Issue Dividend of $0.07 on October 16thChesswood Group Ltd (NASDAQ:CHW:CA) declared a dividend on Wednesday, September 20th, Fidelity reports. Stockholders of record on Saturday, September 30th will be given a dividend of 0.07 per share on Monday, October 16th. The ex-dividend date is Friday, September 29th. COPYRIGHT VIOLATION WARNING: This piece of content was originally posted by [[site]] and is the [...]Zolmax News|
|Chesswood Group: RBC-Led Group Provides $50MM to Support Chesswood GrowthThe Chesswood Group has exercised the $50 million accordion feature in its existing revolver with a bank syndicate led by Royal Bank of Canada to support the continued growth of its Pawnee Leasing portfolio.ABF Journal|
|Press Release: Chesswood Group : Chesswood Renews Normal Course Issuer Bid and Initiates Automatic Share Purchase PlanTORONTO, ONTARIO-(Marketwired - Aug. 23, 2017) - Chesswood Group Limited ("Chesswood") (TSX:CHW) announced today that the Toronto Stock Exchange (the "TSX") has accepted its notice of intention to conduct a normal course issuer bid to enable it to purchase up to 1,085,981 of its 16,570,367 Common Shares ("Shares") outstanding, representing approximately 10 per cent of ... Czytaj dalej Chesswood Renews Normal Course Issuer Bid and Initiates Automatic Share Purchase PlanBlackbird|
|Chesswood Group: Chesswood Group Limited Announces August 2017 DividendTORONTO, ONTARIO -- (Marketwired) -- 08/22/17 -- Chesswood Group Limited (TSX: CHW) announced today a cash dividend of $0.07 per share for the month of August. The dividend will be payable to shar...FinanzNachrichten|
|Press Release: Chesswood Group : Marcelle Newstadt to Lead Blue Chip as Sole President TORONTO, ONTARIO -- (Marketwired) -- 08/16/17 -- Blue Chip Leasing Corporation ("Blue Chip"), a division of Chesswood Group Limited (CHW: TSX) ("Chesswood"), is pleased to announce the appointment of Marcelle Newstadt as sole President. Marcelle started with Blue Chip in 2002 a ...Business Press 24|
|Chesswood Group: Chesswood Reports Record Second Quarter Operating Earnings of $9.3 MillionTORONTO, ONTARIO -- (Marketwired) -- 08/03/17 -- Chesswood Group Limited ("Chesswood" or "the Company") (TSX: CHW), a North American wide commercial equipment finance provider for small and medium...FinanzNachrichten|
Screengrabs of how the Chesswood Group site has evloved. (Click to expand)
Owler has collected 16 screenshots of Chesswood Group's website since May 2014. The latest Chesswood Group website design screenshot was captured in Mar 2018.
Chesswood Group is a financial services company, which offers micro and small-ticket equipment financing to small businesses. Chesswood Group was founded in 01/1982. Chesswood Group's headquarters is located in Toronto, Ontario, CA M3J 2R8. Chesswood Group's latest acquisitions include Ecohome Financial and Bluechip Leasing. Chesswood Group's President & CEO, Barry Shafran, currently has an approval rating of 55%. 100% of Owler community believes the stock will go Up. Chesswood Group has 99 employees and reported 69.3M in revenue [trailing four quarters].
Visit the Chesswood Group website to learn more.