NEW YORK--(BUSINESS WIRE)--White Oak Commercial Finance (“White Oak”), an affiliate of White Oak Global Advisors, announced today it has purchased a portfolio of asset-based loans from Veritas Financial Partners, a Boca Raton, FL based specialty finance company.
“This transaction presented a unique opportunity for White Oak to expand its national presence while further diversifying our portfolio,” said Robert Grbic, President & CEO of White Oak Commercial Finance. “We look forward to building upon these productive relationships with each of these borrowers, and we thank Veritas for their commitment to making this a seamless transition for all parties.”
Veritas’s President Mark Seigel commented, “These borrowers are an exceptional fit within White Oak’s asset based lending strategy, and being part of a large multi-product organization will provide a significant competitive advantage.”
Antanas Liobis, Veritas’s Vice Chairman and Chief Credit Officer added, “White Oak’s transaction is a testament to our team’s success in building institutional quality asset based lending relationships in recent years. It is evident to us that White Oak places a high value on all of its client relationships.”
Hovde Group, LLC served as exclusive financial advisor to Veritas Financial Partners in connection with the transaction.
ABOUT WHITE OAK COMMERCIAL FINANCE, LLC
White Oak Commercial Finance, LLC provides working capital financing solutions to small-and middle-market companies located primarily in the United States. WOCF's solutions range in size from $5 million to $50 million, and include products such as asset-based lending, full-service factoring, invoice discounting, supply chain financing, inventory financing, U.S. import/export financing, trade credit risk management, account receivables management and credit and collections support. WOCF is an affiliate of White Oak Global Advisors, LLC, and its institutional clients. More information can be found at www.whiteoaksf.com.
ABOUT WHITE OAK GLOBAL ADVISORS, LLC
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, LLC's disciplined investment process aims to deliver risk-adjusted investment returns for our investors while establishing long term partnerships with our borrowers. More information can be found at www.whiteoaksf.com.