BlueMountain Capital Management (BlueMountain), a private investment firm specialising in the global credit markets with USD7 billion in assets under management, has purchased a majority equity stake in Navitas Lease Corporation (Navitas). This investment was made with funds managed by BlueMountain and will provide Navitas with additional capital to support its multi-year growth plan.
“Navitas possesses the talent and resources to become a dominant competitor in the equipment finance industry,” says Brad Schwartz, BlueMountain’s lead portfolio manager for asset-backed strategies. “Taking into account that this is a highly underserved market, Navitas has tremendous opportunities to serve the small business community’s equipment leasing needs.”
“The company has worked hard in the last two years to take advantage of market conditions and reach its growth objectives,” says Gary Shivers, Navitas’ president and CEO. “We look forward to this relationship with BlueMountain, as the firm has substantial resources to support our growth, as well as expertise in financial services.”
