NEW YORK--(BUSINESS WIRE)--White Oak ABL, LLC, White Oak Commercial Finance, LLC, and other funds and accounts managed by White Oak Global Advisors, LLC, (collectively, “White Oak”), have closed a new $70 million commitment in a $225 million ABL credit facility to a leading private-equity owned home textile supplier, specializing in fashion top of bed, basic and utility bedding, and window coverings. The funds will be primarily used to provide for working capital.
“We are pleased to have the opportunity to join this financing to support such a long-standing, market leader in the bedding manufacturing space. This financing continues to build White Oak’s momentum and market leadership in asset-based lending,” said Tom Otte, Partner and Head of Asset Based Lending and White Oak Europe at White Oak.
“This deal illustrates our experience and ability to partner with other leading financial institutions and private-equity sponsors to support middle market businesses and their continued growth and strategic acquisitions,” said Kevin Cox, Managing Director at White Oak Global Advisors.
This deal comes on the heels of four other publicly announced ABL investments over the last 10 weeks alone, representing over $390 million in capital commitments by White Oak. White Oak has observed tremendous opportunity among companies that are facing capital constraints as banks retrench from C&I lending and borrowers look to non-bank lenders to maximize liquidity and flexibility.
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.
