SLR Investment Corp. Acquired An Asset-Based Factoring Portfolio And Operations From Webster Bank, N.A.'s Commercial Services Division For $115M, In An Asset Purchase That Includes A Team Of Professionals And A Seasoned Portfolio
Portfolio Pulse from Benzinga Newsdesk
SLR Investment Corp. (NASDAQ:SLRC) has acquired an asset-based factoring portfolio and operations from Webster Bank for $115 million. This acquisition enhances SLRC's specialty finance platform by adding a seasoned portfolio and a team of professionals, increasing its exposure to first lien senior secured collateralized assets.
September 30, 2024 | 1:09 pm
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SLR Investment Corp. has acquired a $115 million asset-based factoring portfolio from Webster Bank, enhancing its specialty finance platform and increasing its exposure to secured assets.
The acquisition of a seasoned portfolio and a team of professionals from Webster Bank enhances SLRC's specialty finance platform, potentially leading to increased revenue and market presence. This strategic move is likely to positively impact SLRC's stock price in the short term.
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