As part of our diversified growth and our ongoing quest to expand and consolidate our presence, as well as diversify our business units both within and outside our current locations, Bepensa is expanding and strengthening the reach of our Bepensa Capital division through the acquisition of Crédito Real USA Finance (CRUSAFin), a business in the sector in the United States.
Following a process before the U.S. court, resulting from Bepensa's bid as the main bidder in the auction of CRUSAFin's assets, the acquisition was approved for a sum exceeding $60 million.
CRUSAFin has been operating in the United States for several years, providing financial solutions to segments of the population unable to access traditional banking institutions. Now, under the management of Bepensa Capital, which already includes the SOFOM FinBe and a leasing company ABC Leasing, under the FinBe-ABC brand, the new company will bring its combined experience and resources to the market in a dynamic and innovative manner, in a seamless integration that will not impact the division's previous operations. Headquartered in Ft. Lauderdale, Florida, Crédito Real USA Finance is a national subprime lender that has been working with franchise and independent auto dealerships since 2007 to originate auto loans for identified applicants within the subprime segment.
"This addition brings with it a wealth of opportunities and synergies. I'm confident it's a major milestone for Bepensa and represents a significant step forward in the growth path of our Capital division," said José María Casares Cámara, CEO of Bepensa.
For his part, José Juan Vázquez Basaldúa, CEO of Bepensa Capital, added that the acquisition of CRUSAFin "has been a learning process that continues to strengthen the division and is aligned with the growth strategy it has maintained over the past few years." He also mentioned that, although the acquisition process is complete, challenges remain, but he is confident that, with the combined experience and determination that characterize Bepensa, they will be able to overcome them, creating great opportunities and a successful future for all.
Ensuring business continuity will be Bepensa Capital's priority in the coming weeks. In accordance with legal guidelines in Mexico and the United States, they will work to begin offering the market more financial solutions.
Bepensa is characterized by successfully capitalizing on the national and international market opportunities in which we participate.
