Wafra Announces Acquisition of Navitas Credit Corp.

Wafra Inc., a New York-based alternative asset manager with approximately $30 billion in assets under management, has announced a definitive agreement to acquire Navitas Credit Corp. for approximately $1.9 billion in cash. The transaction, which is expected to close in the third quarter of 2026, marks a significant move in the finance sector, particularly in the equipment finance space, where Navitas has established itself as a leader.

Founded in 2008 and headquartered in Ponte Vedra, Florida, Navitas specializes in providing equipment finance solutions tailored for small and mid-sized businesses. The company has built a strong reputation for its customer service and disciplined underwriting approach, which has allowed it to thrive through various economic cycles. With over 200 employees across six locations, Navitas has demonstrated a commitment to supporting essential equipment purchases, making it a vital partner for its clients.

The acquisition aligns with Wafra's strategy of investing in high-quality asset-backed businesses and enhancing its portfolio with companies that exhibit strong growth potential. Wafra's expertise in specialty finance and its history of partnering with management teams in the equipment finance sector are expected to provide Navitas with the necessary support to expand its operations and capitalize on future growth opportunities. The current management team at Navitas will remain in place post-transaction, ensuring continuity and stability during this transition period.

The broader market dynamics indicate a growing demand for equipment financing solutions, particularly as small and mid-sized businesses seek to invest in essential assets to drive their operations. This acquisition positions Wafra to leverage Navitas' established market presence and expertise to further penetrate this segment. Additionally, the backing of Wafra's financial resources, including acquisition financing from Bank of America and Wells Fargo, will provide Navitas with the capital needed to enhance its service offerings and expand its reach.

As the transaction unfolds, it is anticipated to have implications for the equipment finance sector, particularly in how companies approach financing solutions for small and mid-sized enterprises. The partnership between Wafra and Navitas is expected to foster innovation and drive competitive advantages in the market, potentially reshaping the landscape for equipment financing in the coming years. The successful completion of this acquisition will not only enhance Wafra's portfolio but also contribute to the overall growth of the equipment finance industry.