Encina Private Credit has changed its name to Encina Commercial Finance (ECF) to more accurately reflect the firm’s expanding capabilities as a specialty finance company.
While ECF will continue to focus on its first-out enterprise value loan product, the firm has expanded its capabilities to better serve both asset-light and asset-intensive businesses. Specifically, for more asset-intensive borrowers, ECF can now underwrite a prospective borrower’s cash flow as well as the value of its underlying collateral, which may include accounts receivable, inventory, machinery and equipment, real estate and intellectual property. When appropriate, the firm may also structure transactions to include a borrowing base and/or asset coverage covenants, providing ECF with the flexibility to meet the financing needs of a broader range of companies.
“Our business has evolved significantly, and our new name better reflects the breadth of solutions we provide to our partners in the market,” said Hensinger. “Over the past several years, we have established ourselves as the leading non-bank, first-out enterprise value lending platform while expanding our capabilities to meet the evolving needs of our partners. Encina Commercial Finance better represents the full range of solutions we provide. While our name is changing, our mission remains exactly the same: to be the premier first-out financing partner for direct lenders by delivering speed, certainty, flexibility, reliability and a trusted partnership model.”
ECF’s expanded product capabilities enable it to provide first-out financings ranging from $15 million to $150 million – including revolvers/working capital facilities, funded term loans and delayed draw term loans – for both private equity-sponsored and non-sponsored borrowers throughout the United States and Canada. Transactions may be underwritten based on enterprise value, or a combination of both enterprise value and asset value, allowing the firm to support both asset-light and asset-intensive businesses while maintaining its disciplined underwriting approach.
“Our clients and partners will continue to work with the same experienced team they have trusted for years,” Hensinger added. “Many members of our senior leadership team have deep roots in both cash flow and asset-backed lending dating back to our GE Capital and banking careers. We are building on those decades of experience to offer even more solutions without changing the collaborative, relationship-driven approach that has defined our firm since inception.”
