BharCap Partners, LLC acquired Red OAK Inventory Finance, LLC from ECN Capital Corp. (TSX:ECN) for approximately $150 million on February 21, 2024. The net cash proceeds of $153 million are subject to final working capital adjustments. The net proceeds from the transaction were initially used to pay down debt under the Company?s credit facility and are expected to be available to be redeployed into ECN?s manufactured housing and RV & Marine origination platforms. As part of the transaction, RBC Capital Markets acted as financial advisor and Cravath, Swaine & Moore LLP acted as legal advisor to the ECN Capital Corp.

BharCap Partners, LLC completed the acquisition of Red OAK Inventory Finance, LLC from ECN Capital Corp. (TSX:ECN) on February 21, 2024.