NEW YORK--(BUSINESS WIRE)--White Oak ABL, LLC and White Oak Commercial Finance, LLC, the asset-based lending affiliates of White Oak Global Advisors, LLC, (collectively, “White Oak”) provided a $40 million North America ABL credit facility (the “ABL Facility”) to Invacare Holdings Corporation (“Invacare” or the “Company”), a leading manufacturer and distributor of medical equipment used in non-acute care settings. The $40 million ABL Facility was part of Invacare’s larger financial restructuring, which allowed the Company to emerge from a voluntary pre-arranged bankruptcy and continue to pursue its goals in its core lifestyle and mobility & seating product categories.
“We at White Oak are excited to partner with Invacare and support their long-term growth plans and exit from bankruptcy. With this strategic partnership, White Oak has once again demonstrated its ability to develop tailored ABL solutions to support the operations and sustained growth of middle market businesses,” said Tom Otte, Head of ABL.
“We are pleased to have secured the ABL Facility which provides additional flexibility for the North American business as we focus on executing our global transformation plan. We believe the Company is well-positioned to capitalize on global tailwinds in the markets we serve,” said Geoffrey P. Purtill, President and Chief Executive Officer of Invacare.
ABOUT WHITE OAK
White Oak Global Advisors, LLC (“WOGA”) is a leading alternative debt manager specializing in originating and providing financing solutions to support small and middle market enterprises. WOGA and its financing affiliates provide over twenty lending products to the market that include term, asset-based, and equipment loans. Since its inception in 2007, WOGA and its affiliates have deployed over $11 billion across its product lines. White Oak ABL, LLC and White Oak Commercial Finance, LLC are affiliates of WOGA and provide financial solutions including asset-based lending, full service factoring, lender financing, invoice discounting, government contract financing, supply chain financing, inventory financing, US import/export financing, trade credit risk management, accounts receivable management and credit/collections services. The firms have offices and personnel throughout the US, UK, and Australia. More information can be found at www.whiteoaksf.com/commercialfinance.
ABOUT INVACARE HOLDINGS CORPORATION
Invacare Holdings Corporation (“Invacare” or the “Company”) is a leading manufacturer and distributor in its markets for medical equipment, and services used in non-acute care settings. At its core, the company designs, manufactures and distributes products, services and solutions Making Life’s Experiences Possible® for people with congenital, acquired and degenerative conditions. The company's products are important parts of care for people with a wide range of challenges, from those who are active and heading to work or school each day and may need additional mobility to those who are cared for in residential care settings, at home and in rehabilitation centers in North America, Europe and Asia Pacific. For more information about the company and its products, visit the company's website at www.invacare.com.
