Once again this year, CTL is a proud sponsor of Gary Klutt, a young, ambitious Canadian NASCAR race car driver with admirable talent and big dreams.
For the first time, Gary is participating in all 11 events on the schedule, qualifying him to complete for the coveted Rookie of the Year Award, an award given to the first-year driver who has the best season. With more competitors than in any other year, this years rookie race will be one of the toughest in the Canadian Tire series history.
When asked why CTL chose to sponsor this young Canadian NASCAR driver, Jeffrey Newhouse, CEO of CTL Corp. didn't miss a beat. "Gary is a great proxy for all of us at CTL," he said. "We consider him part of the team. Both on and off the track, Gary exhibits our core values of respect and trust. And, just like our entire CTL team, he demonstrates an anything is possible attitude."
The 2015 campaign started on May 17 at CTMP in Bowmanville, ON and runs through to the season ender at Kawartha Speedway on Sept. 19.
This sponsorship provided a once in a lifetime opportunity for many of our dealers partners through our NASCAR "Just One More Deal promotion". Qualified dealerships could display their logo on the CTL Race Car at a race of their choice. Given the TV and other media coverage during the race this year, this equated to significant value. Many dealers had the opportunity to not only attend the race, but to visit Gary in the pit afterward for a first hand look at the car, a quick chat, and a few pictures.
Builds on current product shelf for car dealers and enhances cross-Canada distribution
QUEBEC CITY, Oct. 5, 2015 /CNW Telbec/ - Industrial Alliance Insurance and Financial Services Inc. ("Industrial Alliance" or "iA Financial Group") today announced an agreement to acquire Ontario-based CTL Corp. ("CTL"), the largest privately‑owned consumer vehicle finance company in Canada. The transaction was completed on October 2, 2015.
CTL is a non traditional credit lender with a loan portfolio of more than $100 million originated through a network of car dealers located across Canada. The transaction is immediately accretive and expected to contribute full-year earnings of $0.04 per share. The impact on the solvency ratio will be a decrease of approximately 4 percentage points.
"This strategic acquisition expands the breadth of financial and insurance products that we currently offer through car dealers, and is expected to accelerate the development of our Dealer Services division across Canada," commented Denis Ricard, Executive Vice‑President of iA Financial Group. "CTL brings valuable credit analysis, underwriting and collection expertise and systems for a diverse suite of car loans across the credit spectrum. We look forward to working together and view their addition to the Industrial Alliance family as important to the continued success of our car dealer business."
"We are excited to join such a dynamic and forward-thinking organization" remarked Jeffrey Newhouse, President of CTL. "iA has demonstrated its commitment to enhancing its car dealer experience. Being part of iA's Dealer Services division, we anticipate our synergies will strengthen our competitive advantage, while adding significant value to the services offered to Canadian consumers looking to acquire a vehicle through our network of dealer partners."
RBC Capital Markets acted as exclusive financial advisor to CTL Corp.
CTL is a Canadian-owned, national auto finance company that specializes in providing finance solutions to Canadians who need to buy a car but can’t obtain traditional bank financing.
CTL is a national non-prime auto finance company that specializes in providing finance solutions to Canadians who need to buy a car but can’t obtain traditional bank financing. We began operations in 2010, and in less than five years became one of the largest institutions in the Canadian non-traditional vehicle loan market. We operate in all 10 provinces, providing auto finance solutions to approximately 1700 franchise and independent dealers across Canada. In October 2015, CTL was acquired by Industrial Alliance, a major player in the Canadian insurance market where it serves serves three million people across the country and ranks fourth among Canadian insurance companies.
Working closely with our over 1700 dealer partners across Canada, CTL has helped thousands of people in similar situations obtain vehicle financing. CTL is expanding and is always looking for passionate, dedicated and experienced individuals to join our company. If you're interested in joining us to provide flexible and affordable auto finance solutions to clients with the highest level of customer service, professionalism and respect, apply now! – less