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Owl Rock Capital's (ORCC) Portfolio Company Acquires Liberty
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Owl Rock Capital Corporation’s portfolio company Wingspire Capital Holdings LLC recently agreed to acquire Liberty Commercial Finance LLC, which provides highly competitive equipment financing. The deal is expected to conclude on Jun 30.
The terms of the deal are yet to be disclosed. The buyout is expected to bring a high-growth direct originations platform to Wingspire Capital. Liberty’s platform has a vast domestic footprint that arms middle-market companies with equipment finance solutions. Wingspire Capital expects the acquisition to complement its existing equipment finance products and enhance the reach of the middle-market customer base.
The move is in line with the acquirer’s growth strategy, as it is expected to combine best-in-class originations and syndication teams to Wingspire Capital’s existing business. Eric Freeman, the founder and CEO of Liberty, is expected to continue running the company under the acquirer’s Wingspire Equipment Finance platform, following the acquisition.
Owl Rock Capital, a specialty finance company that lends funds to the U.S. middle-market companies, expects the acquisition to build a premier equipment finance platform for delivering tailored financial solutions to the clients. ORCC’s own inorganic growth story has been quite impressive.
ORCC has been witnessing strong investment income growth since its inception. Its investment income saw a CAGR of 104.2% during the 2016-2021 period. The metric further jumped 19.2% year over year in the first quarter of 2022. As most of Owl Rock Capital’s assets are floating in nature, an improving interest rate environment is projected to drive its net investment income in the second half of 2022.
Price Performance
Shares of Owl Rock Capital have decreased 11.1% in the past year compared with the 19.5% fall of the industry.
Headquartered in Milwaukee, WI, MGIC Investment provides private mortgage insurance and other products in the domestic markets and internationally. The Zacks Consensus Estimate for MTG’s 2022 earnings indicates an 18.9% increase from the prior-year reported number.
Based in New York, MetLife is an insurance-based global financial services company providing protection and investment products to individual and institutional customers. The Zacks Consensus Estimate for MET’s 2022 bottom line has increased 5.9% in the past 60 days.
Overland Park, KS-based SelectQuote has a technology-enabled distribution platform, helping clients choose policies from multiple options. The Zacks Consensus Estimate for SLQT’s 2022 bottom line has improved 12% in the past 60 days.
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Owl Rock Capital's (ORCC) Portfolio Company Acquires Liberty
Owl Rock Capital Corporation’s portfolio company Wingspire Capital Holdings LLC recently agreed to acquire Liberty Commercial Finance LLC, which provides highly competitive equipment financing. The deal is expected to conclude on Jun 30.
The terms of the deal are yet to be disclosed. The buyout is expected to bring a high-growth direct originations platform to Wingspire Capital. Liberty’s platform has a vast domestic footprint that arms middle-market companies with equipment finance solutions. Wingspire Capital expects the acquisition to complement its existing equipment finance products and enhance the reach of the middle-market customer base.
The move is in line with the acquirer’s growth strategy, as it is expected to combine best-in-class originations and syndication teams to Wingspire Capital’s existing business. Eric Freeman, the founder and CEO of Liberty, is expected to continue running the company under the acquirer’s Wingspire Equipment Finance platform, following the acquisition.
Owl Rock Capital, a specialty finance company that lends funds to the U.S. middle-market companies, expects the acquisition to build a premier equipment finance platform for delivering tailored financial solutions to the clients. ORCC’s own inorganic growth story has been quite impressive.
ORCC has been witnessing strong investment income growth since its inception. Its investment income saw a CAGR of 104.2% during the 2016-2021 period. The metric further jumped 19.2% year over year in the first quarter of 2022. As most of Owl Rock Capital’s assets are floating in nature, an improving interest rate environment is projected to drive its net investment income in the second half of 2022.
Price Performance
Shares of Owl Rock Capital have decreased 11.1% in the past year compared with the 19.5% fall of the industry.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Owl Rock Capital currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader finance space are MGIC Investment Corporation (MTG - Free Report) , MetLife, Inc. (MET - Free Report) and SelectQuote, Inc. (SLQT - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Headquartered in Milwaukee, WI, MGIC Investment provides private mortgage insurance and other products in the domestic markets and internationally. The Zacks Consensus Estimate for MTG’s 2022 earnings indicates an 18.9% increase from the prior-year reported number.
Based in New York, MetLife is an insurance-based global financial services company providing protection and investment products to individual and institutional customers. The Zacks Consensus Estimate for MET’s 2022 bottom line has increased 5.9% in the past 60 days.
Overland Park, KS-based SelectQuote has a technology-enabled distribution platform, helping clients choose policies from multiple options. The Zacks Consensus Estimate for SLQT’s 2022 bottom line has improved 12% in the past 60 days.