In October 2011, CIVC Partners, a Chicago-based private investment firm, joined with management and existing shareholders to acquire Honor Finance. Honor Finance also announced that a new line of credit has been secured from Wells Fargo Preferred Capital, Inc.
Honor Finance, based in Evanston, Illinois, is a specialty finance company that originates, finances and services automobile finance contracts for non-prime consumers. Jim Collins, who founded Honor Finance in 2000, will continue to lead its management team as they expand the company’s lending business nationally. For additional information about Honor Finance, visit www.honorfinance.com
CIVC’s investment will provide additional resources for the continued expansion of the company, while preserving the superior levels of service that Honor clients have come to expect. CIVC’s investment provides growth equity capital to address the exceptional opportunities in the non-prime auto finance market.
Colonnade Securities LLC represented Honor Finance in this transaction.