WINGSPIRE CAPITAL TO ACQUIRE LIBERTY COMMERCIAL FINANCE

Rhea-AI Summary

On June 28, 2022, Wingspire Capital announced its agreement to acquire Liberty Commercial Finance. This acquisition will enhance Wingspire's equipment finance solutions, expanding its reach in the middle market. Liberty has a proven track record, having originated over $1.3 billion in equipment financing since 2017, and will contribute a strong origination platform. The deal is expected to close on June 30, 2022. The integration aims to create a premier financing platform, aligning the company cultures of both organizations.

Positive

• Acquisition of Liberty enhances Wingspire's equipment finance offerings.
• Liberty has originated over $1.3 billion in equipment financing, demonstrating strong market presence.
• Wingspire can leverage Liberty's direct financing and syndication capabilities for growth.

Negative

• None.

ATLANTA, June 28, 2022 /PRNewswire/ -- Wingspire Capital Holdings LLC ("Wingspire Capital") today announced an agreement to acquire Liberty Commercial Finance LLC ("Liberty"). Wingspire Capital is a portfolio company of Owl Rock Capital Corporation, a publicly traded business development company that is externally-managed by an indirect subsidiary of Blue Owl Capital Inc.

The acquisition will provide Wingspire Capital with a high-growth direct originations platform that has a nationwide market presence providing equipment finance solutions to middle-market companies. Terms of the transaction were not disclosed, and the acquisition is expected to close on June 30.

"We are excited to announce the agreement to acquire Liberty, a company that complements our existing business and our growth strategy. This acquisition will integrate best-in-class originations and syndication teams to our existing equipment finance offering and broadens our reach within the middle market customer base," said David Wisen, Co-Founder and CEO of Wingspire Capital.

Since inception in 2017, Liberty has originated over $1.3 billion in total equipment finance volume and built a diversified portfolio across industries. Liberty provides both direct financing and syndications, allowing it to offer flexible, customer-centric solutions and dynamically respond to changes in market conditions. The company's underwriting, originations and capital markets teams are all headed by seasoned veterans under the direction of founder and CEO, Eric Freeman. Mr. Freeman will continue to run Liberty Commercial Finance under the Wingspire Equipment Finance platform, with a headquarters office based in Tustin, California.

"We could not have found a better partner in Wingspire. The company culture, strong leadership and institutional values align well with Liberty. The next phase of our growth starts now," said Eric Freeman, Founder and CEO of Liberty Commercial Finance.

"We are very pleased to see Wingspire's continued growth and success. The combined company will create a premier equipment finance platform that can deliver tailored financial solutions to middle market companies and their private equity sponsors," said Craig Packer, a Co-Founder of Blue Owl Capital and the Chief Executive Officer of Owl Rock Capital Corporation.

ABOUT WINGSPIRE CAPITAL

Wingspire Capital is a middle market-focused, specialty finance firm that provides asset-backed credit facilities to businesses across all industries.  Our depth of experience across all debt products and industries enables our firm to be creative and flexible in our approach, and the lender of choice for companies across all stages of growth and complexity. The commitments for our credit facilities range in size from $20 to $200 million.

Wingspire is a portfolio company of Owl Rock Capital Corporation (NYSE: ORCC), which is externally managed by Owl Rock Capital Advisors LLC, an SEC-registered investment adviser and part of Owl Rock. Owl Rock is a division of Blue Owl Capital (NYSE: OWL), an alternative asset manager with approximately $102 billion of assets under management as of March 31, 2022.  For further information about  Wingspire, visit wingspirecapital.com. 

ABOUT LIBERTY COMMERCIAL FINANCE
Liberty Commercial Finance provides highly competitive equipment financing, with transactions ranging from $1 million to $50 million, and solutions tailored primarily to middle market companies across numerous industries nationwide. Liberty was founded in 2017 by equipment financing veteran Eric Freeman, and is led by a team with more than 250 years of combined experience. Learn more about Liberty at libertycommercial.com.

Media contact for Wingspire Capital
Mary Jane Credeur of The Credeur Group 
+1-404-317-2718  |  mj@credeurgroup.com

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SOURCE Wingspire Capital

FAQ

What is the date of Wingspire Capital's acquisition announcement of Liberty Commercial Finance?

Wingspire Capital announced the acquisition agreement on June 28, 2022.

When is the expected closing date for the Wingspire and Liberty acquisition?

The acquisition is expected to close on June 30, 2022.

What has Liberty Commercial Finance achieved in terms of financing volume?

Liberty has originated over $1.3 billion in equipment finance volume since its inception.

How will the acquisition of Liberty benefit Wingspire Capital?

The acquisition will enhance Wingspire's equipment finance capabilities and broaden its market reach.

Who will continue to run Liberty Commercial Finance after the acquisition?

Eric Freeman, the founder and CEO of Liberty, will continue to lead the company under Wingspire.