Arctic Cat Canada finalized its partnership with Wells Fargo Commercial Distribution Finance on June 16 to provide inventory financing to Arctic Cat’s dealer partners across Canada. The partnership was first announced in the fourth quarter, and ACAT’s dealers were officially onboarded in June, said Jeremy Jansen, president of the motorsports group at Wells Fargo CDF.
Arctic Cat has been manufacturing snowmobiles, ATVs, and side-by-sides since 1960 and has had a long-standing relationship with CDF, according to a company press release.
Additionally, Wells Fargo CDF hired a new program director, Matt Michelson, to serve as its commercial leader for Artic Cat. Based out of Toronto, Ontario, Michelson will lead Wells Fargo CDF’s Arctic Cat team across all of North America.
“Matt will be closely aligned with the Arctic Cat and CDF leadership teams to ensure we are delivering on our value promise to Arctic Cat and their dealers,” Jansen said.
Prior to joining CDF, Michaelson served more than 20 years as vice president of portfolio management at GE Capital, according to his LinkedIn profile.
Wells Fargo CDF is allocating more of its resources towards getting representatives into the field to meet with its dealer and OEM partners, Jansen said. CDF has added “a handful” of new commercial and sales representatives to deliver on its primary initiative — provide a seamless transition for its partners, following its acquisition by Wells Fargo & Co.