Overview
- Wafra-advised investment funds have signed a definitive agreement to acquire Navitas Credit Corp. from United Community Banks for roughly $1.9 billion in cash, with the final price subject to customary closing adjustments.
- The parties expect the transaction to close in the third quarter of 2026 and say it remains subject to standard closing conditions and regulatory approvals.
- Bank of America and Wells Fargo are providing acquisition financing and have committed about $1.0 billion of additional capacity to support Navitas’s growth under new ownership.
- Navitas will continue to be led by its current management team and keep its workforce in place; the company held about $1.8 billion of owned receivables and employed roughly 200 people across six U.S. locations as of March 31, 2026.
- United frames the divestiture as a move to concentrate on its Southeastern relationship banking franchise by strengthening liquidity and capital, while Wafra aims to support Navitas’s independent expansion; closing-price adjustments and approvals are the key items to watch next.