SLR Investment acquires asset-based factoring business from Webster

SLR Investment announced that on September 27, its wholly-owned portfolio company, SLR Business Credit acquired an asset-based factoring portfolio and operations from Webster Bank, N.A.’s Commercial Services Division in an asset purchase that includes a team of professionals and a seasoned portfolio. The factoring business specializes in providing financing solutions to middle-market companies. SLR-BC is a commercial finance company that specializes in making senior secured asset-based loans and factoring to small and medium-sized companies with borrowing needs of $100,000 up to $100 million. The approximately $115 million portfolio acquired from Webster is diversified with loans to long-standing customers. This acquisition increases SLR-BC’s exposure to first lien senior secured collateralized assets. The addition of the asset-based factoring business, along with its team, further enhances SLRC‘s diversified specialty finance platform. The Company has a proven history of underwriting and integrating strong lending platforms that are seeking long-term, stable capital and synergies with a new strategic partner.