United Community Banks completes $2B Navitas sale to Wafra

United Community Banks, Inc. (NYSE: UCB) announced the completion of the sale of its equipment finance business, Navitas Credit Corp. and NLFC Reinsurance Corp., to funds managed by Wafra Inc. for approximately $2.0 billion in cash.

The transaction reflects a 7% premium to the par value of Navitas' loan portfolio. The preliminary purchase price is based on August 28, 2026 financials, with the final price subject to closing adjustments.

"Over the past eight years, Navitas has been a strong contributor to United, delivering meaningful growth and returns," said Lynn Harton, Chairman and Chief Executive Officer. "This transaction enables United to sharpen our focus on our core Southeastern markets, simplify our business model, and further reduce our risk profile."

BofA Securities acted as exclusive financial advisor to United, and Squire Patton Boggs (US) LLP served as its legal advisor. Sidley Austin LLP, Chapman and Cutler LLP, and Clifford Chance LLP served as Wafra's legal advisors.

As of June 30, 2026, United Community Banks had $29.1 billion in assets and operated 200 offices across Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. Wafra is a global alternative investment manager with approximately $30 billion of assets under management, headquartered in New York.

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