J.C. Flowers & Co. LLC and Värde Partners acquire CitiFinancial Canada, now Fairstone Financial
Summary
Flowers) and V\xe4rde Partners completed the acquisition of CitiFinancial Canada (now Fairstone Financial Inc. (Fairstone)) from an affiliate of Citigroup Inc. (Citi).Fairstone is Canadas leading non-bank provider of responsible lending solutions. With roots in Canada since 1923 and over 200 branches coast to coast, Fairstone provides personal loans and home equity loans designed to suit todays borrowing needs. Fairstone also partners with a wide network of businesses to deliver flexible consumer financing programs.J.C. Flowers is a leading private investment firm dedicated to investing globally in the financial services industry. Founded in 1998, the firm has invested more than $15 billion of capital in 47 portfolio companies in 17 countries across a range of industry subsectors including banking, insurance and reinsurance, securities firms, specialty finance, and services and asset management.