White Oak Acquires Federal National Commercial Credit, Inc. (FNCC)

SAN FRANCISCO and NEW YORK, Feb. 07, 2018 -- White Oak Global Advisors, LLC on behalf of its institutional clients (collectively “White Oak” or the Company), announced today that White Oak has acquired Federal National Commercial Credit, Inc. (“FNCC”), a specialized commercial finance company providing government receivable financing, commercial factoring and asset based loans to small and middle-market companies. Established in 1992, FNCC is an industry leader in providing financing solutions for companies that are doing work for the federal government. The acquisition expands White Oak’s asset-based lending product offerings and capabilities to serve new government and factoring clients.

FNCC’s senior leadership team consisting of Kwesi Rogers, CEO, and Kysha Pierre-Louis, Chief Credit Officer, will continue to lead the business from Bethesda, MD. Post-close the business will be named White Oak Business Capital, Inc. Terms of the transaction were not disclosed.

“White Oak is focused on growing its asset-based lending platform to serve the tens of thousands of companies that require debt financing in the U.S and globally that are currently underserved by traditional capital sources. FNCC has built a strong business serving companies in key markets across the U.S. and, combined with the White Oak platform, we believe we can expand FNCC’s offerings to more businesses with a larger array of credit products,” said White Oak CEO Andre Hakkak. “Our investors will continue to benefit from our expansion in commercial finance product offerings and geographic reach,” he added.

“We believe that White Oak’s deal sourcing and extensive investment platform will allow us to continue the strategy we have successfully executed with our previous private equity partner, Pine Tree Equity, as well as accelerate FNCC’s growth opportunities going forward” said White Oak Business Capital CEO Kwesi Rogers.  Rogers has been with FNCC since its inception in 1992. Over his tenure at FNCC, he has become a very well-known and respected figure among small and large businesses in the government contracting industry.

Hovde Group, LLC served as an exclusive financial advisor to FNCC. Richards Kibbe & Orbe, LLP served as legal counsel for White Oak on this transaction, while Holland & Knight represented FNCC.

About White Oak Global Advisors, LLC

White Oak Global Advisors, LLC is a leading global alternative asset manager specializing in originating and providing credit financing solutions to facilitate the growth, acquisitions, refinancings and recapitalizations of small and medium size enterprises. With over $7bn of capital invested in over 500 companies, White Oak and its affiliates provide small and medium size enterprises with term loans, asset-based lending, invoice factoring, trade finance, equipment financing and treasury management. Since its inception in 2007, White Oak’s disciplined investment process focuses on delivering risk-adjusted investment returns and establishing long term partnerships with our borrowers.  More information can be found at www.whiteoaksf.com

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Jonathan Setiabrata
Investor Relations
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