The Globe and Mail reports in its Friday, Nov. 14, edition that private equity fund Warburg Pincus plans to take private ECN Capital with a $1.1-billion buyout, the latest in a series of PE acquisitions of Canadian public companies. The Globe's Andrew Willis writes that late Thursday, Warburg announced it would buy ECN, led by chief executive officer Steve Hudson, for $3.10 per share in cash, reflecting a 13-per-cent premium over ECN's Wednesday closing price on the Toronto Stock Exchange (all figures Canadian unless otherwise indicated). Warburg is buying a company that packages loans for modular homes, recreational vehicles and boats across North America, then sells the debt to banks and institutional investors. ECN manages $7.6-billion (U.S.) in assets. In 2016, Mr. Hudson spun out ECN from auto lender Element Fleet Management and built up the company through a series of acquisitions. ECN sold one of its divisions in 2021 for $2-billion (U.S.) and paid a $7.50-per-share special dividend. Over the past five years, the stock price has declined by 47 per cent. Five months ago, Mr. Hudson said Warburg made an unsolicited approach that resulted in a friendly transaction.