White Oak ABL and White Oak Commercial Finance, the asset-based lending affiliates of White Oak Global Advisors, provided a $40 million North America ABL credit facility to Invacare Holdings, a manufacturer and distributor of medical equipment used in non-acute care settings. The $40 million ABL facility was part of Invacare’s larger financial restructuring, which allowed the company to emerge from a voluntary pre-arranged bankruptcy and continue to pursue its goals in its core lifestyle and mobility and seating product categories.
“We at White Oak are excited to partner with Invacare and support their long-term growth plans and exit from bankruptcy. With this strategic partnership, White Oak has once again demonstrated its ability to develop tailored ABL solutions to support the operations and sustained growth of middle-market businesses,” Tom Otte, head of ABL at White Oak, said.
“We are pleased to have secured the ABL facility which provides additional flexibility for the North American business as we focus on executing our global transformation plan,” Geoffrey P. Purtill, president and CEO of Invacare, said. “We believe the company is well-positioned to capitalize on global tailwinds in the markets we serve.”
