SLR Investment Corp. Announces Acquisition of Factoring Business
SLR Investment Corp. (NASDAQ: SLRC) announced that its wholly-owned portfolio company, SLR Business Credit (SLR-BC), acquired an asset-based factoring portfolio and operations from Webster Bank's Commercial Services Division on September 27, 2024. The acquisition includes a team of professionals and a seasoned portfolio of approximately $115 million, diversified with loans to long-standing customers.
This marks SLR-BC's fourth acquisition under SLRC's ownership, expanding its portfolio and product offering. The acquisition aligns with SLRC's strategy to capitalize on the shifting commercial bank landscape and expand its specialty finance platform. SLR-BC specializes in making senior secured asset-based loans and factoring to small and medium-sized companies with borrowing needs of $100,000 up to $100 million.
SLR Investment Corp. (NASDAQ: SLRC) ha annunciato che la sua società di portafoglio interamente controllata, SLR Business Credit (SLR-BC), ha acquisito un portafoglio di factoring basato su beni e operazioni dalla divisione Servizi Commerciali di Webster Bank il 27 settembre 2024. L'acquisizione include un team di professionisti e un portafoglio consolidato di circa $115 milioni, diversificato con prestiti a clienti di lunga data.
Questa è la quarta acquisizione di SLR-BC sotto la proprietà di SLRC, ampliando il suo portafoglio e l'offerta di prodotti. L'acquisizione è in linea con la strategia di SLRC di capitalizzare il cambiamento nel panorama delle banche commerciali e di ampliare la sua piattaforma di finanza specializzata. SLR-BC è specializzata nel concedere prestiti garantiti senior basati su beni e factoring a piccole e medie imprese con necessità di finanziamento comprese tra $100.000 e $100 milioni.
SLR Investment Corp. (NASDAQ: SLRC) anunció que su empresa de cartera completamente controlada, SLR Business Credit (SLR-BC), adquirió una cartera y operaciones de factoring basadas en activos de la División de Servicios Comerciales de Webster Bank el 27 de septiembre de 2024. La adquisición incluye un equipo de profesionales y una cartera consolidada de aproximadamente $115 millones, diversificada con préstamos a clientes de larga data.
Esta es la cuarta adquisición de SLR-BC bajo la propiedad de SLRC, ampliando su cartera y la oferta de productos. La adquisición está alineada con la estrategia de SLRC de capitalizar el cambio en el panorama bancario comercial y expandir su plataforma de financiamiento especializado. SLR-BC se especializa en otorgar préstamos garantizados senior basados en activos y factoring a pequeñas y medianas empresas que necesitan financiamiento de entre $100,000 y $100 millones.
SLR 투자 공사(NASDAQ: SLRC)는 그 소유의 전무후무한 포트폴리오 회사인 SLR 비즈니스 신용(SLR-BC)이 2024년 9월 27일에 웨스터 뱅크 상업 서비스 부서로부터 자산 기반 팩토링 포트폴리오와 운영을 인수했다고 발표했습니다. 이 인수에는 전문 팀과 약 $115 백만의 숙련된 포트폴리오가 포함되어 있으며, 이는 장기 고객에 대한 대출로 다양화되어 있습니다.
이번 인수는 SLRC 소속 아래 SLR-BC의 네 번째 인수로, 포트폴리오와 제품 제공을 확장합니다. 이번 인수는 SLRC의 전략과 일치하여 변화하는 상업 은행 환경을 활용하고 전문 금융 플랫폼을 확대하는 것입니다. SLR-BC는 $100,000에서 $100 백만까지의 대출이 필요한 중소기업에 대해 선순위 담보 자산 기반 대출 및 팩토링을 전문으로 합니다.
SLR Investment Corp. (NASDAQ: SLRC) a annoncé que sa société de portefeuille entièrement détenue, SLR Business Credit (SLR-BC), a acquis un portefeuille de factoring basé sur les actifs et des opérations auprès de la Division des Services Commerciaux de Webster Bank le 27 septembre 2024. L'acquisition comprend une équipe de professionnels et un portefeuille expérimenté d'environ 115 millions de dollars, diversifié avec des prêts à des clients de longue date.
Ceci marque la quatrième acquisition de SLR-BC sous la propriété de SLRC, élargissant son portefeuille et son offre de produits. L'acquisition s'inscrit dans la stratégie de SLRC de tirer parti de l'évolution du paysage bancaire commercial et d'élargir sa plateforme de finance spécialisée. SLR-BC se spécialise dans l'octroi de prêts garantis senior basés sur des actifs et de factoring pour les petites et moyennes entreprises ayant des besoins de financement compris entre 100 000 et 100 millions de dollars.
SLR Investment Corp. (NASDAQ: SLRC) gab bekannt, dass ihre vollständig im Besitz befindliche Portfolio-Gesellschaft, SLR Business Credit (SLR-BC), am 27. September 2024 ein asset-basiertes Factoring-Portfolio und Betriebsabläufe von der Commercial Services Division der Webster Bank erworben hat. Die Akquisition umfasst ein Team von Fachleuten und ein erfahrenes Portfolio von etwa $115 Millionen, das durch Kredite an langjährige Kunden diversifiziert ist.
Dies markiert die vierte Akquisition von SLR-BC unter dem Eigentum von SLRC, wodurch das Portfolio und das Produktangebot erweitert werden. Die Akquisition steht im Einklang mit der Strategie von SLRC, von der sich verändernden Landschaft der Geschäftsbanken zu profitieren und ihre Plattform für spezielle Finanzierungen auszubauen. SLR-BC ist auf die Gewährung von besicherten Finanzierungen und Factoring für kleine und mittelgroße Unternehmen mit Kreditbedarfen von $100.000 bis $100 Millionen spezialisiert.
- Acquisition of $115 million asset-based factoring portfolio from Webster Bank
- Expansion of SLRC's specialty finance platform and capabilities
- Increased exposure to first lien senior secured collateralized assets
- Addition of experienced team of professionals
- Diversification of loan portfolio with long-standing customers
- None.
Insights
The acquisition of Webster Bank's factoring portfolio by SLR Investment Corp. is a strategic move that significantly expands SLRC's specialty finance capabilities. The
- Increased exposure to first lien senior secured collateralized assets, enhancing the quality of SLRC's portfolio
- Diversification of revenue streams through the addition of factoring services
- Expansion of SLRC's market reach in the middle-market segment
This transaction aligns with SLRC's strategy of capitalizing on the retreat of commercial banks from niche markets. The acquisition is likely to be accretive to earnings in the near term, given the seasoned nature of the portfolio and the inclusion of an experienced team. Long-term, this move positions SLRC to capture more market share in the specialty finance sector, potentially leading to improved revenue growth and profitability.
This acquisition signals a growing trend in the specialty finance market, where BDCs like SLRC are stepping in to fill the void left by retreating commercial banks. The factoring business, which provides important working capital to middle-market companies, is becoming increasingly attractive as traditional banks face regulatory pressures and capital constraints.
The move is likely to be viewed positively by investors, as it demonstrates SLRC's ability to:
- Identify and execute on strategic growth opportunities
- Diversify its revenue streams
- Scale its operations efficiently through acquisitions
The
Increases SLRC’s Specialty Finance Portfolio and Capabilities
NEW YORK, Sept. 30, 2024 (GLOBE NEWSWIRE) -- SLR Investment Corp. (NASDAQ: SLRC) (the “Company” or “SLRC”) today announced that on September 27, its wholly-owned portfolio company, SLR Business Credit (“SLR-BC”) acquired an asset-based factoring portfolio and operations from Webster Bank, N.A.’s Commercial Services Division (“Webster”) in an asset purchase that includes a team of professionals and a seasoned portfolio. The factoring business specializes in providing financing solutions to middle-market companies. SLR-BC is a commercial finance company that specializes in making senior secured asset-based loans and factoring to small and medium-sized companies with borrowing needs of
The approximately
The addition of the asset-based factoring business, along with its team, further enhances SLRC's diversified specialty finance platform. The Company has a proven history of underwriting and integrating strong lending platforms that are seeking long-term, stable capital and synergies with a new strategic partner.
“The addition of this business marks our fourth acquisition under the ownership of SLRC. We are pleased with the integration and performance of our prior acquisitions and are excited to expand our portfolio and product offering with this attractive factoring platform,” said Jeff Goldrich, CEO of SLR-BC. “The Webster business has a proven track record of originating and managing factoring assets.”
“This acquisition furthers SLRC’s strategy of capitalizing on the shifting commercial bank landscape to expand its specialty finance platform,” said Mitch Soiefer, Partner and Head of Lender Finance at SLR Capital Partners, LLC. “As commercial banks continue to retreat from certain niche markets, our pipeline of attractive investment opportunities has grown. Our expertise, coupled with our stable, long-term capital base, makes us an attractive partner for commercial-bank owned business lines.”
Hovde Group served as exclusive financial advisor to Webster in connection with the transaction.
About SLR Investment Corp.
SLR Investment Corp. is a closed-end investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940. A specialty finance company with expertise in several niche markets, the Company primarily invests in leveraged, U.S. upper middle market companies in the form of cash flow, asset-based, and life sciences senior secured loans. SLRC is externally managed by SLR Capital Partners, LLC, an independent investment adviser. For more information, please visit slrinvestmentcorp.com.
About SLR Business Credit
SLR Business Credit is a leading asset-based lending commercial finance company that specializes in making senior secured asset-based loans and factoring to small and medium-sized companies with borrowing needs of
Forward-Looking Statements
Some of the statements in this press release may constitute forward-looking statements because they may relate to future events, future performance or financial condition, which involve risks and uncertainties. Words such as “anticipate,” “believe,” “expect,” “seek,” “plan,” “should,” “estimate,” “project” and “intend” indicate forward-looking statements, although not all forward-looking statements include these words. Any forward-looking statements included in this press release are based on information available to SLRC on the date of this press release, and SLRC assumes no obligation to update any such forward-looking statements. Although SLRC undertakes no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise, you are advised to consult any additional disclosures that it may make directly to you or through reports that SLRC in the future may file with the Securities and Exchange Commission, including annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K.
Contact
Mitch Soiefer
Head of Lender Finance
msoiefer@slrcp.com | (212) 993-1681
Investor Relations
slrinvestorrelations@slrcp.com | (646) 308-8770
FAQ
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