SouthStar Capital announced 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.
The acquisition allows SouthStar to strengthen and expand its service offerings in the Factoring and Asset Based Lending sectors,. the company said.
Part of the portfolio included a factoring line of $10 million 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.