Norwalk, CT, August 8, 2018: North Mill Equipment Finance LLC (“North Mill”), a leading independent, small ticket, equipment finance company for essential-use commercial and industrial equipment, principally in the transportation, construction and manufacturing markets, today announced that it has been acquired by an affiliate of Wafra Capital Partners Inc. (“WCP”).
“We are excited about WCP’s investment in North Mill and are committed to its future growth,” said Michael Gontar, Chief Investment Officer at WCP. “North Mill possesses tremendous growth potential that, combined with the growth capital we are able to provide to their leading small ticket equipment finance platform, creates a compelling opportunity for our stakeholders and clients.”
“We are thrilled to be partnering with such an experienced and well capitalized partner like WCP, especially given WCP’s management team’s successful track record in building long term specialty finance companies for the past 20 years,” said David C. Lee, CEO of North Mill, who along with certain senior members of North Mill’s senior management team will be investors. “WCP’s investment enables us to continue developing our innovative approach to the small ticket equipment finance market through enhancement of our technology, funding and marketing infrastructure to originate new business through our national network of third-party referral agents.”
Bryant Park Capital LLC served as exclusive financial advisor to Colford Capital Holdings LLC, the seller of North Mill, in this transaction.
WCP, a New York-based SEC-registered investment adviser, manages or advises funds and accounts that specialize in asset-based finance and real estate investments. WCP is an affiliate of Wafra Inc. (“WAFRA”). Founded in 1985, WAFRA is a New York-based SEC registered investment adviser, which is beneficially owned by the Public Institution for Social Security of Kuwait, an autonomous agency controlled by the State of Kuwait. Together, WCP, WAFRA and their affiliates have over $20 billion of commitments and assets under management. WCP’s senior leadership is comprised of the former employees in WAFRA’s Structured Finance and Business & Product Development divisions. WCP has significant experience with structured finance, venture debt, equipment leasing and finance, transportation finance, real estate debt, and other specialty finance transactions, and its team has been operating in these arenas since 1999.
About North Mill Equipment Finance
Headquartered in Norwalk, Connecticut, North Mill has a long history in the equipment finance industry as an originator and servicer of small ticket equipment leases and loans, ranging from $10,000 to $250,000 in value. For more information, visit www.nmef.com.
For further information, contact:
David C. Lee, CEO
North Mill Equipment Finance LLC
Wafra Capital Partners Inc.
Bryant Park Capital
North Mill Equipment Finance • 50 Washington Street, South Norwalk, CT 06854 • Tel (203) 354-3654 • Fax (203) 354-3655 • www.nmef.com