CG Commercial Finance (CGCF) has sold all of the outstanding stock of the company to funds managed by Atalaya Capital Management.
CGCF says transaction represents an important milestone in the firm’s long-term growth strategy establishing the capital resources to exponentially grow its originations platform; increase its funding capacity; and expand its third-party buy desk, referral, and syndication program.
“As CGCF and Atalaya have worked closely in the past funding large ticket, complex transactions, we are excited to be able to complete this transaction and join forces with the team at Atalaya. With the capitalisation provided by Atalaya, in addition to our strategic partnerships and our existing warehouse facility, CGCF is well positioned to fill the financing gap that exists for middle market companies due to the bank regulatory environment and the exit of key players from the market,” says W Scott McCullum, president of CG Commercial Finance.
Atalaya has invested in a wide range of equipment leasing transactions throughout its history, including acquisitions from the FDIC and banks as well as origination directly and through partners.
“The acquisition of an established equipment finance structuring and originations platform expands our capabilities. We are pleased to partner with CGCF’s experienced team to build a premier equipment leasing business,” says Rana Mitra, managing director, Atalaya Capital Management.
