United Community Bank to Sell Navitas Credit for $1.9 Billion in Cash
UCB•United Community Bank agreed to sell Navitas Credit Corp. to Wafra-managed funds for approximately $1.9 billion in cash, with Bank of America and Wells Fargo providing financing. Navitas, with $1.8 billion in receivables and over 200 employees across six locations, will remain under its current management post-close in Q3 2026.
1. Transaction Details
United Community Bank has agreed to divest Navitas Credit Corp. to funds managed by Wafra for approximately $1.9 billion in cash. Bank of America and Wells Fargo will provide acquisition financing along with a $1.0 billion growth facility, and the deal is expected to close in Q3 2026 subject to customary conditions.
2. Navitas Business Profile
Founded in 2008 and headquartered in Ponte Vedra, Florida, Navitas Credit Corp. specializes in equipment financing for small and mid-sized businesses. As of March 31, 2026, the company held $1.8 billion in owned receivables and employed more than 200 staff across six U.S. locations, with its existing management team to remain in place.
3. Strategic Implications for United Community Bank
The sale of Navitas will allow United Community Bank to unlock significant liquidity and potentially bolster its capital ratios, while enabling a sharper focus on core banking operations. Proceeds could be deployed for balance sheet optimization, strategic investments or shareholder returns as the bank refines its business mix.
