MOUNT PLEASANT, S.C., May 15, 2019 /PRNewswire/ -- SouthStar Capital is excited to announce the acquisition of the Charleston, South Carolina based company, inFactor, effective May 3rd of 2019. SouthStar acquired inFactor's factoring portfolio and commercial customer accounts, which will operate under SouthStar's brand moving forward. This acquisition offers an exciting opportunity for SouthStar to strengthen and expand its service offerings in the Factoring and Asset Based Lending sectors. Part of the portfolio included a factoring line of $10MM to one of the country's largest IT staffing and training firms. SouthStar looks forward to acquiring more Specialty Finance, Factoring and Asset Based Lending companies in the near future.
"We are pleased to add inFactor's portfolio to our 'roll-up' of existing companies. This transaction represents SouthStar's intention to grow in the Specialty Finance space. We are actively seeking portfolios in the Asset Based Lending, Leasing, and Factoring spaces, to add to our growing group of companies. SouthStar has positioned itself with the ability to acquire existing portfolios quickly and efficiently, while providing world class service to our clients. Our goal is to build the largest premier Specialty Finance company in the US, and we have spent the last 12 years refining our systems, software, and personnel to support our growth in this space," says SouthStar Capital's President, Bernard Linney.
SouthStar Capital provides custom financing solutions for businesses nationwide. SouthStar offers alternative financing to businesses in need of working capital to grow and sustain their company. SouthStar's credit facilities include Accounts Receivable, Inventory, Purchase Orders, Equipment and any combination thereof. SouthStar does not use a conventional underwriting process and thinks outside the box when providing a custom-tailored solution for their clients.
SOURCE SouthStar Capital