EquiFin, Inc. yesterday announced that it has sold its factoring company, Equinox Factors, to Coast Capital Partners. The transaction will allow the company to discontinue unprofitable operations that could have an adverse effect on the company in the future and will relieve the company of all ongoing obligations associated with Equinox Factors. Coast Capital Partners is an enterprise owned by Walter Craig, EquiFin's president.
Prior to this sale to Coast Capital, EquiFin approached over two dozen factoring companies to solicit offers for the purchase of Equinox and/or its portfolio. The offer from Coast Capital represented the only offer of purchase to date.
