White Oak Buys Finacity in Flagship Acquisition
White Oak Global Advisors (“White Oak”) has completed the acquisition of Finacity Corporation (“Finacity”) a global leader in working capital and trade finance funding solutions to global businesses.
Finacity originates, structures and places over USD$100 billion in trade finance receivables yearly with over 50 leading financial institutions in asset-backed security structures. Finacity has facilitated transactions for receivables denominated in 58 currencies with obligors in more than 175 countries making it the largest non-bank trade finance platform globally.
The deal will see Adrian Katz remain as Finacity CEO and substantive equity holder, working closely with the leadership of White Oak Global Advisors. With this acquisition White Oak and its affiliates will have over 215 professionals focused on asset-based lending offering trade receivables securitization and a variety of ABL products including invoice discounting, factoring, trade finance, supply chain finance, lender finance and import-export finance.
The acquisition will accelerate White Oak’s drive into the $30 trillion market for asset-based working capital solutions. Finacity will operate as a standalone business but will work closely with White Oak in a number of areas where there are synergies – including White Oak deploying institutional capital on Finacity’s platform.
White Oak is an SEC-registered investment advisor and has over $10 billion in balance sheet assets. It offers over 20 lending products including SME business lending, commercial finance, equipment leasing, structured finance and other specialty lending solutions for the benefit of borrowers.
Finacity is headquartered in Stamford, Connecticut and will be rebranded as White Oak Finacity. White Oak’s interest in acquiring Finacity has been long-standing – dating from before the business’ original sale in 2018.
Andre Hakkak, CEO of White Oak Global Advisors, said:
“We are delighted to be welcoming Finacity to the White Oak family. Finacity is a market leader and there are significant synergies between their work and the work we are already doing at White Oak.
“This acquisition further demonstrates White Oak’s commitment to being a leading global player in asset-backed capital solutions which is integral to the functioning of the global economy. In particular, Finacity’s experience in making securitization of accounts receivable and consumer assets less complex and more cost-effective will provide significant advantage to our clients.
“We look forward to working closely with Adrian and the team at Finacity as we embark on this new partnership.”
Adrian Katz, CEO of Finacity Corporation, said:
“Everyone at Finacity is excited to be starting this new chapter of our story as part of White Oak. We have known the leadership at White Oak for a long time and are convinced that this move is absolutely the right one to enable Finacity to thrive.
“I am particularly excited about the new opportunities that collaboration with White Oak will open up through the combination of our market expertise and global scale.”
About White Oak
White Oak Global Advisors, LLC is a leading global alternative asset manager specializing in originating and providing financing solutions to facilitate the growth, refinancing and recapitalization of small and medium enterprises. Since its inception in 2007, White Oak Global Advisors’ disciplined investment process focuses on delivering risk-adjusted investment returns and establishing long term partnerships with our borrowers. For more information, visit www.whiteoaksf.com .
Finacity specializes in the structuring and provision of efficient capital markets receivables funding programs, supplier and payables finance, back-up servicing, and program administration. Finacity currently facilitates the financing and administration of an annual receivables volume of approximately US $100 billion. With resources in the USA, Europe, Latin America and Asia, Finacity conducts business throughout the world with obligors in more than 175 countries. Learn more at www.finacity.com .
About Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
PROMPERÚ22.10.2021 19:17:07 CEST | Press release
Peru Holds a Ribbon Cutting Ceremony at Its Pavilion at Dubai Expo and Wins 4 World Travel Awards
TX-SCHLUMBERGER-LIMITED22.10.2021 12:52:09 CEST | Press release
Schlumberger Announces Third-Quarter 2021 Results
DISRUPTIVE.ASIA22.10.2021 12:32:08 CEST | Press release
Disruptive.Asia: Huawei's Ryan Ding and Peng Song Discuss How Operators Can Leverage Connectivity to Unlock New Growth
SUZANO22.10.2021 12:21:06 CEST | Press release
Suzano Brings Its Target for Capturing 40 Million Tons of Carbon From the Atmosphere Forward To 2025
ANT-GROUP22.10.2021 12:03:04 CEST | Press release
AntChain Launches Its First Security Chip and New Blockchain Platform Powered by Privacy Computing Technology
TOTAL-TELECOM22.10.2021 12:02:04 CEST | Press release
Total Telecom: Maximizing the Value of Connectivity
EGLE-THERAPEUTICS22.10.2021 11:32:10 CEST | Press release
Egle Therapeutics Raises 40 Million € Series a to Develop First-In-Class T-regulatory Cells Therapies Based On Treg-starvers
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom