TD Bank acquires Wells Fargo's Canadian Direct Equipment Finance business

The Toronto-Dominion Bank has completed the acquisition of Wells Fargo's Canadian Direct Equipment Finance business.

The transaction adds scale and capabilities to TD's existing Canadian Equipment Financing business and expands TD's presence in core markets.

"This acquisition enhances our position and competitiveness in Canada's Equipment Finance industry and will allow us to better serve a more diverse set of business customers who require customized financing services and leasing solutions," said Darren Cooke, President, TD Equipment Finance, Canadian Business Banking, TD Bank Group. "Our combined teams will bring seasoned expertise in equipment leasing and finance to deliver the strong value of tailored financing and leasing options to customers across Canada."