White Oak buys Finacity on flagship acquisition
SAN FRANCISCO – (BUSINESS WIRE) – White Oak Global Advisors (“White Oak”) has completed the acquisition of Finacity Corporation (“Finacity”), a leading global provider of working capital and trade finance solutions to global corporations.
Finacity creates, structures and places over USD 100 billion in trade finance receivables annually with over 50 leading financial institutions in asset-backed securities structures. Finacity has enabled transactions for receivables in 58 currencies with debtors in more than 175 countries, making it the largest bank-independent trade finance platform worldwide.
Adrian Katz will remain CEO of Finacity and major shareholder in the transaction and will work closely with the management of White Oak Global Advisors. With this acquisition, White Oak and its subsidiaries will have over 215 asset-based lending professionals who provide trade receivables securitization and a variety of ABL products including invoice discounting, factoring, trade finance, supply chain finance, lender finance, and import-export. Financing.
The acquisition will accelerate White Oak’s foray into the $ 30 trillion market for asset-based working capital solutions. Finacity will operate as a standalone company but will work closely with White Oak in a number of areas where there is synergy – including White Oak’s provision of institutional capital on Finacity’s platform.
White Oak is an SEC registered investment advisor with net assets of over $ 10 billion. It offers over 20 loan products, including SMB business loans, commercial finance, equipment leasing, structured finance and other specialty loan solutions for the benefit of borrowers.
Finacity is headquartered in Stamford, Connecticut and will be renamed White Oak Finacity. White Oak’s interest in acquiring Finacity has been around for a long time – even before the company was originally sold in 2018.
Andre Hakkak, CEO of White Oak Global Advisors, said:
âWe are pleased to welcome Finacity to the White Oak family. Finacity is a market leader and there is significant synergy between their work and the work we are already doing at White Oak.
âThis acquisition further demonstrates White Oak’s commitment to being a leading global player in asset-backed capital solutions, which is essential to the functioning of the global economy. In particular, Finacity’s experience in making the securitization of receivables and consumer assets less complex and more cost-effective will provide our customers with a significant advantage.
“We look forward to working closely with Adrian and the Finacity team as we form this new partnership.”
Adrian Katz, CEO of Finacity Corporation, said:
âEveryone at Finacity is excited to start this new chapter in our history as part of White Oak. We have known the White Oak leadership for a long time and are convinced that this step is absolutely right for Finacity to thrive.
“I am particularly excited about the new opportunities that the collaboration with White Oak will open up through the combination of our market expertise and global reach.”
About white oak
White Oak Global Advisors, LLC is a leading global alternative asset manager specializing in sourcing and delivering financing solutions to facilitate the growth, refinancing and recapitalization of small and medium-sized businesses. Since its inception in 2007, White Oak Global Advisors’ disciplined investment process has been focused on delivering risk-adjusted investment returns and building long-term partnerships with our borrowers. For more information, visit www.whiteoaksf.com.
Finacity specializes in structuring and providing efficient capital market receivables financing programs, supplier and accounts payable financing, back-up servicing and program administration. Finacity currently enables the financing and administration of an annual volume of receivables of around 100 billion US dollars. With resources in the US, Europe, Latin America and Asia, Finacity does business with debtors in more than 175 countries around the world. Learn more at www.finacity.com.