In July 2021, a Cequel III team of investors sold their interests in Encina Business Credit, as part of a recapitalization of the company through affiliated funds of Barings, a financial services firm, with participation from Encina management. In conjunction with the recapitalization, Encina changed its name to Eclipse Business Capital. During the time of the Cequel III team’s investment, Encina experienced a period of exceptional growth as an independent, asset-based lending platform for middle-market borrowers in the U.S. and Canada, offering them tailored lending solutions they could not find elsewhere.
Location: United States, Illinois, Chicago