Wafra acquires Navitas Credit Corp
The $1.9 billion cash acquisition from United Community Bank gives Wafra an equipment finance platform with $1.8 billion in owned receivables and more than 200 employees across six locations in the United States.
Takeaways
- Navitas Credit is a equipment finance lender providing small-dollar financing to small and mid-sized businesses.
- The target serves small and mid-sized businesses across United States.
- Disclosed scale includes $1.9 billion.
Wafra Inc has agreed to acquire Navitas Credit Corp, a provider of equipment financing to small and mid-sized businesses, from United Community Bank for approximately $1.9 billion in cash.
Founded in 2008 and headquartered in Ponte Vedra, Florida, Navitas had $1.8 billion in owned receivables as of March 31 and operates with more than 200 employees across six locations in the United States.
"Navitas has distinguished itself in the equipment finance industry by growing successfully through multiple cycles while consistently serving its customers and delivering strong financial performance," said Edward Tsai, Head of Real Assets & Infrastructure at Wafra.
Bank of America and Wells Fargo are providing acquisition financing and a $1.0 billion additional facility to support Navitas' growth.
The transaction is expected to close in the third quarter of 2026, subject to customary closing conditions.
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