North Mill Equipment Finance has been acquired by an affiliate of Wafra Capital Partners (WCP).
North Mill is an East Coast small ticket equipment finance company specializing in essential-use commercial and industrial equipment, principally in the transportation, construction and manufacturing markets.
Michael Gontar, chief investment officer at WCP (pictured), said: “North Mill possess tremendous growth potential that, combined with the growth capital we are able to provide to their leading small ticket equipment finance platform, creates a compelling opportunity for our stakeholders and clients.”
Based in New York, WCP’s management team has a successful track record in building long-term speciality finance companies which goes back more than 20 years.
David Lee, CEO of North Mill, said: “WCP’s investment enables us to continue developing our innovative approach to the small ticket equipment finance market through enhancement of our technology, funding and marketing infrastructure to originate new business through our national network of third-party referral agents.”