SAN FRANCISCO - Wells Fargo & Co. said Tuesday that it had agreed to buy Charter Financial Inc., a New York-based leasing company, for an undisclosed amount.
The company said the transaction is expected to be completed in the second half of this year. Charter Financial would be folded into Minneapolis-based Wells Fargo Equipment Finance Inc., a unit that has $2.85 billion in receivables, 200 employees, and 12,500 customers.
In a statement, Wells described Charter Financial as a specialty finance and leasing company that provides midmarket financing to clients in targeted industries throughout the U.S. and Canada.
