June 12, 2026wafra announces acquisition of Navitas Credit Corp. Wafra Inc. ("Wafra"), the $30 billion New York-based alternative asset manager, announced today that investment funds advised by Wafra have entered into a definitive agreement to acquire Navitas Credit Corp. ("Navitas"), an industry leader in equipment finance solutions, from United Community Bank, a wholly-owned subsidiary of United Community Banks, Inc. (NYSE: UCB) ("United") for approximately $1.9 billion in cash.[[1]] Navitas will continue to be led by its current management team following the closing of the transaction. Founded in 2008, Navitas specializes in financing essential equipment purchases for small and mid-sized businesses. With a foundation grounded in integrity and an unwavering commitment to customer service excellence, Navitas offers tailored equipment finance solutions, drawing on comprehensive experience across industries and assets. Headquartered in Ponte Vedra, Florida, Navitas operates nationally with more than 200 employees across six locations. "Navitas has distinguished itself in the equipment finance industry by growing successfully through multiple cycles while consistently serving its customers and delivering strong financial performance," said Edward Tsai, Head of Real Assets & Infrastructure at Wafra. "The company's success has been driven by the strength of its team, its disciplined underwriting approach, and its solutions-oriented commitment to its partners and customers. We are pleased to add Navitas to our portfolio of high-quality asset-backed businesses and look forward to supporting the company through its next phase of growth." Anthony Peek, Managing Director, Wafra, added, "This transaction builds on Wafra's long-standing experience partnering with management teams across numerous equipment finance platforms to provide aligned capital and strategic support." "Today marks an exciting next chapter in the evolution of Navitas," said Mike Bruman, CEO of Navitas. "This transaction reflects the strength and success of Navitas and positions us for continued growth as an independent equipment finance company. We are deeply grateful to United Community for its partnership, support, and belief in our vision. Their investment in our business has helped build the organization we are today." He added, "As we look to the future, our growth trajectory and ambitions called for a different capital structure. In Wafra, we could not have found a better partner to support our ambitions. Wafra understands our industry, brings deep sector expertise in specialty and equipment finance, and is committed to investing in our future." The transaction is expected to be completed in the third quarter of 2026 and is subject to customary closing conditions. Bank of America and Wells Fargo are providing acquisition financing, as well as $1.0 billion of additional financing capacity to support Navitas' continued growth. BofA Securities acted as exclusive financial advisor to United, and Squire Patton Boggs (US) LLP served as United's legal advisor. Sidley Austin LLP served as lead transaction counsel to Wafra, with additional legal advice from Chapman and Cutler LLP (financing) and Clifford Chance LLP (funds). Rinaldi Advisory Services advised Wafra on operational due diligence. About Navitas Navitas is an equipment finance business wholly-owned by United Community Bank. Navitas specializes in financing essential use small dollar equipment purchases for small to mid-sized businesses. As of March 31, 2026, Navitas had $1.8 billion in owned receivables and operated with more than 200 employees across 6 locations in the United States. Navitas was founded in 2008 and is headquartered in Ponte Vedra, FL. www.navitascredit.com About Wafra Wafra is a global alternative investment manager with approximately $30 billion of assets under management across a range of alternative assets, including strategic partnerships, real assets & infrastructure, and real estate. By providing flexible and accretive capital solutions and focusing on long-term partnerships, Wafra aligns and partners with high quality asset owners, companies, and management teams. Headquartered in New York, Wafra has additional offices in London and Bermuda. For more information, please visit www.wafra.com. [1] Final purchase price subject to closing adjustments.

/PRNewswire/ -- Wafra Inc. ("Wafra"), the $30bn New York-based alternative asset manager, announced today that investment funds advised by Wafra have entered...

United Community Banks has agreed to sell its equipment finance business, consisting of Navitas Credit Corp. and NLFC Reinsurance Corp., to funds managed by Wafra Inc. for $1.9 billion in cash. The deal represents a 7% premium to Navitas' loan portfolio par value. The transaction is expected to generate a one-time pre-tax earnings benefit of $109 million, resulting in 3% accretion to tangible book value per share and 145 basis points of CET1 capital. Navitas represents 10% of United's total loan portfolio but accounts for approximately 50% of the bank's net charge-offs over the last twelve months. The sale will reduce United's loan-to-deposit ratio to 74%, allowing the company to focus resources on its core Southeastern banking business. The transaction is expected to close in the third quarter of 2026.