Holand Leasing acquires select John Scotti Leasing portfolio assets in receivership

Holand Leasing has completed the acquisition of a select portion of John Scotti Leasing Inc.'s leasing portfolio through a court-supervised receivership process, targeting the assets it said best match its ultra-luxury business model, client profile and represented marques. Holand Automotive Group said the rest of the portfolio remains with the Receiver, which continues to manage the broader receivership process. The company described the transaction as a disciplined extension of its existing leasing platform that should create immediate value for both clients and the group. President and Chief Executive Officer Gad Bitton said Holand plans to honor and maintain existing arrangements for clients joining through the deal and work with them as the portfolio is renewed and expanded. The transition will be overseen by Janet Cully, Senior Vice-President, with Viki Forese, Head of Leasing Operations, leading day-to-day integration and working closely with Meir Bitton, Executive Vice-President of Holand Leasing. Holand said the acquisition fits its long-term strategy of selective acquisitions aligned with its business model and that it will continue evaluating opportunities to build and invest where it can better serve clients.