White Oak Commercial Finance, an affiliate of White Oak Global Advisors, provided a $50 million asset-based credit facility to a U.S.-based digital media and advertising company to support continuing growth.
The transaction was structured against the company’s accounts receivable and the proceeds will be used to finance growth and capex spending while improving the company’s liquidity and working capital position.
“The company was looking for a long-term financing partner with flexible and scalable funding to capitalize on its opportunities related to the upsurge in digital media consumption. It was White Oak’s hands-on approach, certainty to close and timely execution that helped ensure the success of this transaction,” David Montiel, managing director at White Oak, said.
White Oak Commercial Finance is a global financial products and services company providing credit facilities to companies across the economy.