Franklin BSP BDCs Acquire Encina Equipment Finance
January 5, 2022
Franklin BSP Lending Corporation and Franklin BSP Capital Corporation, BDCs advised by Benefit Street Partners, acquired substantially all equity interests of Encina Equipment Finance, LLC. Encina will remain headquartered in Westport, Connecticut with management, including CEO Rick Matte, continuing to lead the business and retaining a minority stake; the acquisition provides a permanent capital base to support growth of Encina's equipment finance platform across the U.S. and Canada.
- Buyers
- Franklin BSP Lending Corporation, Franklin BSP Capital Corporation, Benefit Street Partners L.L.C.
- Targets
- Encina Equipment Finance, LLC
- Sellers
- Encina Capital Partners, Funds managed by Oaktree Capital Management, L.P.
- Industry
- Financial Services
- Location
- Connecticut, United States
- Transaction Type
- Buyout
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