Sidley Austin, Chapman and Cutler, Clifford Chance and Squire Patton Boggs (SPB) have advised on United Community Banks’ (UCB) agreement to sell its equipment finance business, consisting of Navitas Credit Corp. And NLFC Reinsurance Corp., (collectively, Navitas) to funds managed by Wafra Inc., for $1.9 billion in cash.
Navitas is an equipment finance business that specialises in financing essential-use equipment purchases for small and mid-sized businesses. The acquisition expands Wafra’s presence in the specialty finance sector and was announced on June 12, 2026.
Sidley Austin represented funds managed by Wafra Inc. on the acquisition.
The Sidley team included Partner Brien Wassner, Counsel David Meehan, and Partner Steven R. Rutkovsky.
Chapman and Cutler LLP and Clifford Chance LLP also acted as legal advisers to Wafra.
The Clifford Chance team was led by Partner Jon Newman.
Squire Patton Boggs (US) LLP advised United Community Banks, Inc. on the sale of Navitas Credit Corp.
The Squire Patton Boggs team was led by Partner Alison LaBruyere.
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