New York-based alternative asset manager Wafra has entered into a definitive agreement to acquire Navitas Credit Corp, an equipment finance solutions provider, from United Community Bank for approximately $1.9bn (£1.41bn) in cash.
Navitas will continue to be led by its current management team following the closing of the transaction. The firm specialises in financing essential equipment purchases for small and mid-sized businesses. It has around 200 employees.
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“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 and infrastructure at Wafra.
“The company’s success has been driven by the strength of its team, its disciplined underwriting approach, and its solutions-oriented commitment to its partners and customers. We are pleased to add Navitas to our portfolio of high-quality asset-backed businesses and look forward to supporting the company through its next phase of growth.”
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The transaction is expected to be completed in the third quarter of 2026 and is subject to customary closing conditions.
