White Oak Commercial Finance (WOCF) and White Oak UK (WOUK), affiliates of White Oak Global Advisors, provided a $35 million asset-based lending (ABL) revolver facility to Unicat Catalyst Technologies, a supplier of heterogeneous catalyst products. The facility also includes a $20 million uncommitted accordion feature.
Headquartered in Texas, with executive offices in the United Kingdom, Unicat received a full suite of ABL products from WOCF and WOUK across its UK and U.S. platforms, structured in U.S. dollars (USD), British pounds (GBP) and euros (EUR).
“We are pleased to work with WOCF and WOUK, who have provided us with flexible working capital and term loan facilities that are more efficient than our previous arrangements and give us scope to grow in line with our strategy,” Mark Stuckey, CEO of Unicat, said.
“Our ability to structure and deploy capital across jurisdictions — funding deeper into various asset classes in both the U.S. and the UK — enabled us to deliver a fully integrated solution tailored to Unicat’s needs,” Kevin Maitland, managing director of underwriting at WOCF, said. “This cross-border funding capability provides a distinct competitive advantage, allowing us to unlock incremental liquidity, harmonize collateral coverage across entities and execute with a level of flexibility and certainty of execution.”
Jeremy Harrison, managing director of ABL at WOUK added, “Unicat is a strong example of our ability to structure cross-border facilities for multi-jurisdictional companies. We appreciate their decision to partner with us in supporting their growth strategy. This transaction highlights our continued commitment to the cross-border space as a leading non-bank ABL provider.”
Shoosmiths and Goldberg Kohn acted as representation for WOUK and WOCF, respectively, with further support from Hilco and FBX Capital. Unicat was represented by Squire Patton Boggs.
