Foley Holdings, a portfolio company of Greyhawk Capital Management, announced a definitive agreement to sell its Factoring business, Foley Business Capital, LLC, to Vero Business Capital, LLC, which is based in Memphis, TN.

Foley Holdings' Chief Executive Officer Joel Sitak remarked, "Today's announcement marks a significant milestone for Foley Holdings, Foley Business Capital and Vero, creating value for our shareholders and representing an outstanding opportunity for Foley Business Capital employees to join a leading company in the Factoring sector.  We are confident it will continue to thrive under Vero leadership."

Mr. Sitak continued, "I would like to thank the Foley Business Capital team for their significant contributions over the years and their dedication throughout the strategic review process."

Foley Business Capital is a leader in the freight factoring industry, working in partnership with its customers to accelerate their cashflow and help expand their businesses.  Trusted by hundreds of carriers, brokers and transportation professionals, Foley Business Capital provides working capital solutions, fuel cards and cash advances.

Hovde Group served as the exclusive financial advisor to Foley Business Capital and Goodwin Proctor served as legal advisors.