United Community Banks sells Navitas equipment finance business for $2B

GREENVILLE, S.C., Sept. 01, 2026 /CourierPR/ -- United Community Banks, Inc., a leading U.S. financial institution, completed the sale of its Navitas equipment finance business to Wafra Inc. on August 28, 2026, marking a significant step in the company's strategic realignment. The transaction, valued at approximately $2.0 billion in cash, represents a 7% premium to the par value of Navitas’ loan portfolio.

This sale underscores United’s commitment to focusing on its core Southeastern relationship banking business. Lynn Harton, Chairman and CEO of United Community Banks, Inc., expressed satisfaction with the transaction, stating, “Over the past eight years, Navitas has been a strong contributor to United, delivering meaningful growth and returns. We are confident that Wafra is well positioned to support Navitas’ continued success. This transaction enables United to sharpen our focus on our core Southeastern markets, simplify our business model, and further reduce our risk profile.”

The sale was facilitated by BofA Securities as exclusive financial advisor and Squire Patton Boggs (US) LLP as legal advisor to United. Wafra Inc., a global alternative investment manager with $30 billion in assets under management, was advised by Sidley Austin LLP, Chapman and Cutler LLP, and Clifford Chance LLP.

United Community Banks, Inc., based in the Southeastern United States, reported $29.1 billion in assets as of June 30, 2026, operating 200 offices in Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. The company is a top-100 U.S. financial institution, known for its retail banking customer satisfaction and recognition as one of the “Best Banks to Work For.” In commercial banking, United Community earned multiple 2026 Greenwich Best Bank awards for Small Business Banking.

For Wafra Inc., this acquisition aligns with its strategy to provide flexible capital solutions and long-term partnerships with high-quality asset owners. Headquartered in New York, Wafra Inc. has additional offices in London and Bermuda, expanding its reach into the financial landscape.

This transaction is subject to final purchase price adjustments, with the initial valuation based on the August 28, 2026, financials.