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White Oak Acquires Capital Business Credit, Expands ABL Platform

December 16, 2016, 07:45 AM
Filed Under: Mergers & Acquisitions

White Oak Global Advisors, LLC  on behalf of its institutional clients, announced today that White Oak has expanded its asset-based lending platform through the acquisition of Capital Business Credit, LLC (“CBC”), a leading commercial finance company that provides asset-based loans, factoring and trade finance products to small and middle-market companies. 

As part of the transaction, White Oak acquired CBC’s existing loan portfolio, which is comprised of over $300 million of assets employed, and the CBC team along with its office locations in New York, Charlotte, Fort Lauderdale, Los Angeles, Hong Kong and Shanghai.  The CBC and White Oak platform will be able to provide asset-based loans, factoring and trade finance credit facilities ranging from $ 1 million to $100 million to underserved middle-market companies.

White Oak is pleased to welcome the senior leadership team of CBC including Andrew Tananbaum, Robert Grbic, Michael Fortino and the approximately 80 members of the CBC team, and believes their expertise will allow White Oak to achieve further success and scale in the commercial finance sectors.

“The acquisition of CBC expands White Oak’s lending capabilities into the significant and growing asset-based lending market while providing White Oak’s investors with attractive alternative credit strategies.  Capitalizing on acquisitions of platforms with disciplined lending practices, such as CBC, is an important component of White Oak’s overall strategy,” White Oak CEO Andre Hakkak said in a statement.

“This transaction with White Oak provides CBC with the capability to offer a larger set of factoring and trade finance solutions and products.  We now have the ability to finance larger, more complex transactions and the flexibility to offer our current clients a broader array of offerings,” said Andrew Tananbaum of CBC.  “In our nearly 30 years of providing asset-based and trade finance solutions, CBC has focused on serving small and middle-market companies and we now have the breadth and capabilities to offer our best-in-class financing products to a much broader portion of the economy.”

Houlihan Lokey served as an exclusive financial advisor to CBC in connection with the transaction. 

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 focuses on delivering risk-adjusted investment returns and establishing long term partnerships with its borrowers. 

Established in 1988, Capital Business Credit, LLC is a global financial products and services company.  The company’s solutions include full-service factoring, accounts receivable management services, inventory lending, asset-based lending, and international financing.  CBC Trade Finance, a division of CBC, provides trade finance solutions for U.S.-based importers working with Asia-based suppliers (exporters).  Capital Business Credit is based in New York, with offices in Hong Kong, Shanghai, Los Angeles, Charlotte, and Fort Lauderdale.  Capital Business Credit is an indirect wholly-owned subsidiary of White Oak Fixed Income Fund C, L.P. 

Houlihan Lokey is a global investment bank with expertise in mergers and acquisitions, capital markets, financial restructuring, valuation and strategic consulting.  The firm serves corporations, institutions, and governments worldwide with offices in the U.S., Europe, and the Asia-Pacific region.  Independent advice and intellectual rigor are hallmarks of our commitment to client success across our advisory services.  Houlihan Lokey is ranked as the No. 1 M&A advisor for all U.S. transactions, the No. 1 global restructuring advisor, and the No. 1 global M&A fairness opinion advisor over the past 15 years, according to Thomson Reuters.

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