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White Oak ABL, White Oak Commercial Finance Provide $40MM Credit Facility to Invacare

June 21, 2023, 07:59 AM
Filed Under: Medical

White Oak ABL and White Oak Commercial Finance, the asset-based lending affiliates of White Oak Global Advisors provided a $40 million North America ABL credit facility to Invacare Holdings Corporation, a leading manufacturer and distributor of medical equipment used in non-acute care settings. The $40 million ABL Facility was part of Invacare’s larger financial restructuring, which allowed the Company to emerge from a voluntary pre-arranged bankruptcy and continue to pursue its goals in its core lifestyle and mobility & seating product categories.

“We at White Oak are excited to partner with Invacare and support their long-term growth plans and exit from bankruptcy. With this strategic partnership, White Oak has once again demonstrated its ability to develop tailored ABL solutions to support the operations and sustained growth of middle market businesses,” said Tom Otte, Head of ABL.

“We are pleased to have secured the ABL Facility which provides additional flexibility for the North American business as we focus on executing our global transformation plan. We believe the Company is well-positioned to capitalize on global tailwinds in the markets we serve,” said Geoffrey P. Purtill, President and Chief Executive Officer of Invacare.

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