Commercial Finance Company Capital Business Credit Acquired
December 15, 2016
By: Caletha Crawford
Capital Business Credit, LLC, a lending commercial finance company, has been acquired by White Oak Global Advisors, LLC.
Capital Business Credit provides asset-based loans, factoring and trade finance products to small and middle market companies. The firm has worked closely with both established and emerging fashion brands and with the City of New York to bolster apparel businesses there. Together, the firms will be able to provide loans and financing up to $100 million.
“This transaction with White Oak provides CBC with the capability to offer a larger set of factoring and trade finance solutions and products. We now have the ability to finance larger, more complex transactions and the flexibility to offer our current clients a broader array of offerings,” said Andrew Tananbaum, executive chairman of CBC. “In our nearly 30 years of providing asset-based and trade finance solutions, CBC has focused on serving small and middle-market companies and we now have the breadth and capabilities to offer our best-in-class financing products to a much broader portion of the economy.”
White Oak will retain the senior leadership, which includes Andrew Tananbaum, Robert Grbic, Michael Fortino, as well as approximately 80 additional members of the team located throughout the U.S. and in China.