Wafra Announces Acquisition of Navitas Credit Corp.
Rhea-AI Summary
Wafra has agreed to acquire Navitas Credit Corp. from United Community Bank (NYSE: UCB) for approximately $1.9 billion in cash. Navitas, founded in 2008 and focused on equipment finance for small and mid-sized businesses, will retain its current management team.
The deal, expected to close in the third quarter of 2026 subject to customary conditions, includes acquisition financing from Bank of America and Wells Fargo plus $1.0 billion of additional capacity to support Navitas’ growth.
Positive
- Cash proceeds of approximately $1.9 billion for United Community Bank (NYSE: UCB)
- $1.0 billion in additional financing capacity to support Navitas’ growth
- Navitas retains its existing management team, supporting operational continuity post-transaction
Negative
- None.
News Market Reaction – UCB
In the Jun 12 session, UCB gained 1.05%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Acquisition Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Apr 21 | Bank acquisition deal | Positive | -3.3% | Announced stock-and-cash merger to acquire Peach State Bancshares for about $100.8M. |
| May 01 | Merger completion | Positive | +1.0% | Closed merger with ANB Holdings, adding a South Florida presence and $452M in assets. |
| Dec 03 | Merger agreement | Positive | +0.0% | Announced all-stock merger agreement to acquire ANB Holdings and American National Bank. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Acquisition-related announcements for UCB have produced mixed reactions, with two modestly positive days and one notable selloff on the Peach State deal.
Over the past 18 months, United Community Banks has used M&A frequently, particularly in Florida and the Southeast. On Dec 3, 2024, it announced an all-stock merger with ANB Holdings valued around $80M, followed by completion of that merger on May 1, 2025, adding $452M in assets. On Apr 21, 2026, UCB unveiled a stock-and-cash acquisition of Peach State Bancshares valued at $100.8M. Today’s agreement to sell Navitas for about $1.9B fits into this ongoing reshaping of the balance sheet and franchise mix.
Key Terms
equipment finance financial
acquisition financing financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Founded in 2008, Navitas specializes in financing essential equipment purchases for small and mid-sized businesses. With a foundation grounded in integrity and an unwavering commitment to customer service excellence, Navitas offers tailored equipment finance solutions, drawing on comprehensive experience across industries and assets. Headquartered in
"Navitas has distinguished itself in the equipment finance industry by growing successfully through multiple cycles while consistently serving its customers and delivering strong financial performance," said Edward Tsai, Head of Real Assets & Infrastructure at Wafra. "The company's success has been driven by the strength of its team, its disciplined underwriting approach, and its solutions-oriented commitment to its partners and customers. We are pleased to add Navitas to our portfolio of high-quality asset-backed businesses and look forward to supporting the company through its next phase of growth."
Anthony Peek, Managing Director, Wafra, added, "This transaction builds on Wafra's long-standing experience partnering with management teams across numerous equipment finance platforms to provide aligned capital and strategic support."
"Today marks an exciting next chapter in the evolution of Navitas," said Mike Bruman, CEO of Navitas. "This transaction reflects the strength and success of Navitas and positions us for continued growth as an independent equipment finance company. We are deeply grateful to United Community for its partnership, support, and belief in our vision. Their investment in our business has helped build the organization we are today." He added, "As we look to the future, our growth trajectory and ambitions called for a different capital structure. In Wafra, we could not have found a better partner to support our ambitions. Wafra understands our industry, brings deep sector expertise in specialty and equipment finance, and is committed to investing in our future."
The transaction is expected to be completed in the third quarter of 2026 and is subject to customary closing conditions.
Bank of America and Wells Fargo are providing acquisition financing, as well as
BofA Securities acted as exclusive financial advisor to United, and Squire Patton Boggs (US) LLP served as United's legal advisor.
Sidley Austin LLP served as lead transaction counsel to Wafra, with additional legal advice from Chapman and Cutler LLP (financing) and Clifford Chance LLP (funds). Rinaldi Advisory Services advised Wafra on operational due diligence.
About Navitas
Navitas is an equipment finance business wholly-owned by United Community Bank. Navitas specializes in financing essential use small dollar equipment purchases for small to mid-sized businesses. As of March 31, 2026, Navitas had
About Wafra
Wafra is a global alternative investment manager with approximately
Contact:
Navitas Credit Corp.:
Jacklynn Manning
Chief Marketing Officer, Navitas Credit
JManning@navitascredit.com
Wafra:
Prosek Partners
pro-wafra@prosek.com
1 Final purchase price subject to closing adjustments.
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SOURCE Wafra