Posted: 09/1999
TFC Acquires RFC Capital
Providence, R.I.-based Textron Financial Corp. (TFC), a subsidiary of Textron Inc., has acquired Columbus, Ohio-based RFC Capital Corp., a finance company serving commercial customers in the telecommunications industry.
RFC Capital, which has receivables of $70 million, now is a division within TFC's Revolving Credit Group. The companies did not disclose terms of the transaction.
TFC is a commercial finance company with three groups of products and services: term financing for aircraft, equipment and golf; revolving credit arrangements; and specialty finance. The company has more than $5 billion in managed receivables. TFC's other services include syndications, asset management, portfolio servicing and insurance brokerage.
