SouthStar Capital acquired Charleston, SC-based inFactor, strengthening and expanding its service offerings in the factoring and asset-based lending sectors.
inFactor’s factoring portfolio – which included a factoring line of $10 million to one of the country’s largest IT staffing and training firms – and commercial customer accounts will operate under SouthStar’s brand moving forward.
“We are pleased to add inFactor’s portfolio to our ‘roll-up’ of existing companies. This transaction represents SouthStar’s intention to grow in the specialty finance space. We are actively seeking portfolios in the asset-based lending, leasing, and factoring spaces, to add to our growing group of companies. SouthStar has positioned itself with the ability to acquire existing portfolios quickly and efficiently, while providing world class service to our clients. Our goal is to build the largest premier specialty finance company in the US, and we have spent the last 12 years refining our systems, software, and personnel to support our growth in this space,” says SouthStar Capital President Bernard Linney.
SouthStar Capital provides custom financing solutions for businesses nationwide, including alternative financing to businesses in need of working capital to grow and sustain their company. SouthStar’s credit facilities include accounts receivable, inventory, purchase orders, equipment and any combination thereof.
