TORONTO–(BUSINESS WIRE)–$tsxacd #assetbasedlending–Accord Financial Corp. (TSX – ACD) (“Accord” or the “Company”) today announced the sale of its 60% interest in BondIt Media Capital (“BondIt”). The sale is an important step in the Company’s plan to divest non-core assets, refinance its debt, and refocus the business on Canada.
Gross proceeds of the transaction are $8.9 million (US$6.6 million), comprised of $6.8 million (US$5.0 million) in cash and a $2.2 million (US$1.6 million) minority investment in the acquiring entity, which is a diversified media services company. The minority interest represents less than 10% of the total ownership interests in the acquiring entity. Cash proceeds, net of transaction expenses, will be used to pay down the Company’s primary banking facility.
“We are pleased to have closed this deal with a well-respected New York-based media investment company. We look forward to seeing BondIt’s founders grow the business to the next level with a strong strategic partner,” commented Simon Hitzig, Accord’s President & CEO.
Matthew Helderman, BondIt’s CEO commented, “Since Accord’s foundational investment in 2017, we’ve worked closely together to navigate extraordinary industry trends and successfully build scale and market presence in a competitive space.” “Through it all, Accord has been a world-class partner,” added BondIt co-founder and COO Luke Taylor.
As previously disclosed in the Company’s public filings, Accord has been working with financial advisors to pursue a broad range of strategic initiatives to streamline the business and strengthen the balance sheet, including through the sale of non-core business units and portfolio assets. This transaction is one notable step in the execution of that plan.
All U.S. dollar amounts have been converted to Canadian dollars using the Bloomberg spot exchange rate as of 12:00 p.m. (Toronto time) on February 10, 2026 of US$1.00 = CA$1.3535.
About Accord Financial Corp.
Accord Financial is one of North America’s most dynamic commercial finance companies providing fast, versatile financing solutions including asset-based lending, factoring, inventory finance, equipment finance and trade finance. By leveraging our unique combination of deep experience and independent thinking, we craft winning financial solutions for small and medium-sized businesses, simply delivered, so our clients can thrive.
Forward-Looking Statements
This news release contains certain “forward-looking statements” and certain “forward-looking information” as defined under applicable Canadian securities laws. Forward-looking statements can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. Forward-looking statements in this news release include, but are not limited to, statements, management’s beliefs, expectations or intentions regarding the financial position of the Company, and the pursuit by the Company of a broad range of strategic initiatives to streamline its business and strengthen its balance sheet, including through the sale of non-core business units and portfolio assets. Forward-looking statements are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements are subject to various risks and uncertainties including the ability of the Company to execute on its plan to streamline its business and strengthen its balance sheet including repaying its outstanding debt obligations. See Accord’s most recent annual information form and most recent management’s discussion and analysis of results of operations and financial condition for a detailed discussion of the risk factors affecting Accord. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
Contacts
For further information please visit www.accordfinancial.com or contact:
Irene Eddy
Senior Vice President, Chief Financial Officer
Accord Financial Corp.
40 Eglinton Avenue East, Suite 602
Toronto, ON M4P 3A2
(416) 961-0304
[email protected]
