Clifford Chance has advised Wafra, Inc. (Wafra), a New York-based alternative asset manager, on an agreement by investment funds advised by Wafra to acquire Navitas Credit Corp. (Navitas) from United Community Bank for approximately US$1.9 billion.
Navitas provides financing equipment solutions for small and mid-sized businesses. The company will continue to be led by its current management team following completion of the transaction.
Clifford Chance advised on the fund investment and structuring aspects of the deal. The team included partners Jon Newman, Chris Phillips-Hart and Michael Seaton, associate Milica Pavlovic, attorney Joey Salama and law clerk Varsha Kanitkar.
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