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.