Daily News: February 8, 2018

White Oak Acquires Federal National Commercial Credit

White Oak Global Advisors, on behalf of its institutional clients acquired Federal National Commercial Credit, 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 provides 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. After closing, business will be named White Oak Business Capital.

“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.

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