The Client
White Oak Commercial Finance and White Oak UK, affiliates of White Oak Global Advisors, have provided a $35 million asset-based lending revolver facility to Unicat Catalyst Technologies, a supplier of heterogeneous catalyst products. The facility includes a $20 million uncommitted accordion feature.
An innovative powerhouse, Unicat Catalyst Technologies is headquartered in Texas with executive offices in the United Kingdom. Established in 2000, Unicat creates and supplies catalysts designed to accelerate and improve chemical reactions across six different sectors. Those are:
- DRI (Direct Reduced Iron / Steel)
- Oil & Gas
- Ammonia
- Hydrogen
- Methanol
- Petrochemicals
In a nutshell, Unicat Catalyst Technologies makes special materials and filters that help big industrial plants run more efficiently, more reliably, and with less pollution. With key technical offices in the US and UK, Unicat also designs advanced filtration systems that protect its catalysts from dust and other fine particles, reducing the downtime of major plants and striving for machinery longevity. They also offer technical support and process know-how for their customers.
The Challenge
Unicat has an ambitious growth strategy that can only be pursued by having access to flexible funds available on demand. They sought a multi-million asset-based lending solution with an experienced and accomplished lender that could also be on hand to support with any further funding. What made this challenge particularly interesting is that Unicat would need to find a cross-border funding capability lender capable of structuring and deploying capital across jurisdictions due to Unicat’s cross-Atlantic locations.
How we helped
White Oak Commercial Finance (WOCF) and White Oak UK (WOUK) delivered a fully integrated, cross‑border asset-based lending solution that supports Unicat’s growth strategy across its US and UK operations. Unicat received a comprehensive suite of ABL products across both platforms, structured in US dollars (USD), British pounds (GBP), and euros (EUR), providing flexible working capital and term loan facilities aligned to its multi-jurisdictional footprint. Mark Stuckey, CEO of Unicat, noted that WOCF and WOUK “provided us with flexible working capital and term loan facilities that are more efficient than our previous arrangements and give us scope to grow in line with our strategy.”
A key feature of the transaction was its cross-border structuring, designed to harmonise collateral coverage across entities while unlocking incremental liquidity. As Kevin Maitland, Managing Director of Underwriting at White Oak Commercial Finance, explained, “Our ability to structure and deploy capital across jurisdictions — funding deeper into various asset classes in both the U.S. and the UK — enabled us to deliver a fully integrated solution tailored to Unicat’s needs. This cross-border funding capability provides a distinct competitive advantage, allowing us to unlock incremental liquidity, harmonise collateral coverage across entities, and execute with a level of flexibility and certainty of execution.” The facility also incorporates an additional $20 million uncommitted accordion feature, giving Unicat further headroom to access capital as its needs evolve.
The transaction was supported by experienced legal and advisory teams, ensuring robust execution across multiple jurisdictions. Shoosmiths and Goldberg Kohn served as legal counsel to White Oak UK and White Oak Commercial Finance, respectively, with additional support from Hilco and FBX Capital, while Unicat was represented by Squire Patton Boggs. Goldberg Kohn attorneys William Starshak and Sara Sager represented WOCF in structuring the cross-border financing, helping to ensure the facility meets Unicat’s immediate working capital requirements while preserving ongoing flexibility. Reflecting on the broader significance, Jeremy Harrison, Managing Director of ABL at White Oak UK, commented, “Unicat is a strong example of our ability to structure cross-border facilities for multi-jurisdictional companies. We appreciate their decision to partner with us in supporting their growth strategy. This transaction highlights our continued commitment to the cross-border space as a leading non-bank ABL provider.”
Secure Asset-Based Lending from White Oak UK
As Unicat Catalyst Technologies continues to scale its operations across the US and UK, this cross-border facility demonstrates how asset-based lending can be a powerful enabler of strategic growth. By unlocking liquidity from existing assets and structuring a facility that mirrors the realities of a multi-jurisdictional business, White Oak UK and its affiliates have created a funding platform that supports both day-to-day working capital needs and longer-term ambitions. For a business like Unicat, operating in complex, capital-intensive sectors, the ability to access flexible, scalable finance is central to maintaining momentum, investing in innovation, and responding quickly to new opportunities.
If your business is looking to unlock capital tied up in receivables, inventory, plant, or machinery (whether you operate solely in the UK or across multiple jurisdictions), asset-based lending from White Oak UK could provide the flexibility and firepower you need. Our team works closely with management to structure facilities that align with your operational profile, sector dynamics, and growth plans, so funding becomes a strategic tool rather than a constraint.
To explore how an asset-based lending solution could support your business, speak to White Oak UK today. Whether you are planning an acquisition, investing in new equipment, or simply seeking a more efficient and scalable working capital structure, our specialists are on hand to discuss a facility tailored to your needs and to help you turn your assets into a springboard for sustainable growth. Call us at your convenience on 01244 527300.
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