InterVest-backed Financeit Canada bags Simply Group Financial

• Financeit is a Toronto-based point-of-sale financing provider that serves home improvement, recreational vehicle and retail industries
• Also based in Toronto, Simply Group provides home comfort equipment and financing services
• InterVest Capital Partners acquired Financeit last year

Financeit Canada, a portfolio company of InterVest Capital Partners, has acquired Simply Group Financial, SNAP Home Finance and certain assets of EcoHome Financial, together a provider of home improvement financing services.

No financial details of the transaction were disclosed.

Simply Group, with more than $1.5 billion in assets under management, provides home comfort equipment and financing services to customers to improve their residential, commercial and industrial properties. The company has its headquarters in Toronto.

Based in Toronto, Financeit is a point-of-sale financing provider that serves home improvement, recreational vehicle and retail industries. InterVest, formerly Wafra Capital Partners, acquired the company in 2022 from Goldman Sachs Asset Management Private Equity.

“We are excited to join forces with Simply Group Financial, SNAP Home Finance, and EcoHome Financial in this transformative acquisition. With their impressive track record and extensive expertise in the home improvement financing sector, we are confident that together we can deliver unparalleled service to our Canadian partners and end-users,” said Michael Gontar, CEO of InterVest, in a statement.

InterVest is a global alternative investment firm specializing in asset-based lending, leasing and other structured finance verticals. Headquartered in New York, the firm has committed capital exceeding $15 billion.