In May 2008, TD Banknorth, Inc., a subsidiary of TD Bank Financial Group (TSX, NYSE: TD) of Toronto, Canada, completed the sale of Flatiron Credit Company to Wells Fargo & Company (NYSE:WFC). All employees of Flatiron will remain with the business. The platform acquisition represents Wells Fargo’ entry into the premium finance business. Terms of the transaction were not disclosed.
Flatiron is the seventh largest premium finance company in the United States.
Colonnade Securities LLC served as exclusive financial advisor to Toronto-Dominion and Flatiron Credit on the transaction.