New Orleans-based Crescent Financial institution has agreed to promote its auto financing division to Arra Finance. The deal, anticipated to shut within the third quarter of 2025, will add Crescent’s $815  million auto mortgage portfolio, together with its servicing tech, fraud safety instruments, and a staff of 180 workers to Arra’s quickly rising operation. Monetary phrases of the transaction weren’t disclosed.

For Crescent Financial institution, the transfer marks an exit from the extremely aggressive oblique auto lending house wherein it has operated since 1991. That line of enterprise has produced $5.3 billion in nationwide auto loans for the financial institution over that interval, and presently accounts for 86.8% of its mortgage portfolio. The auto mortgage portfolio is 77% of the financial institution’s whole property as of March 31, 2025.

By divesting its auto finance unit, Crescent will now refocus its assets.

“This transaction permits Crescent Financial institution to focus our assets on our conventional neighborhood banking enterprise,” stated Crescent Chairman Gary Solomon within the June announcement.

For Arra Finance, the transaction marks a big enlargement of the Irving, Texas-based firm’s subprime lending platform. CEO Kenn Wardle described the acquisition as a “speedy advance” in Arra’s mission to grow to be a go-to financing companion for unbiased and franchise auto sellers nationwide, quadrupling its origination capability and rushing up credit score choices to near-instant approvals.

The deal follows Arra’s rebranding final 12 months (previously Solera Auto Finance) and comes with sturdy backing from personal fairness sponsor Obra Capital, as Arra goals to solidify its place in a rising however more and more tech-driven subprime market.

Loadstar broadens marine providers with Atlas Marine acquisition

One other deal introduced in June, this one between two Louisiana corporations, will see Baton Rouge–based mostly Loadstar Product Dealing with Providers purchase Atlas Marine Providers of Houma, efficient July 1, 2025. The transaction expands Loadstar’s tanker man workforce and repair capability whereas bringing Atlas founders John Breaux and Michael Meche into management roles inside Loadstar.

“We’re very excited to welcome John, Mike and the Atlas staff to Loadstar,” stated Loadstar Founder and CEO Brian Haymon. “That is one other step in our effort to construct Loadstar into the premier service supplier within the trade.”

The acquisition strengthens Loadstar’s popularity for security, compliance, and customer support whereas giving Atlas prospects entry to an expanded portfolio of assets and instruments.

Maritime Companions acquires Seattle-based Centerline Logistics

In one other vital maritime transfer, Metairie-based Maritime Companions, by way of an entity managed by certainly one of its managed funds, reached an settlement in June to amass Seattle’s Centerline Logistics from its principal traders, Macquarie Capital and Silverbox Capital. The corporate was previously often called Harley Marine Providers however rebranded as Centerline Logistics following an possession change in July 2019.

This transaction, anticipated to shut within the third quarter of this 12 months, will add Centerline’s intensive bunkering, towing, and terminal providers to Maritime Companions’ rising fleet, increasing its operational footprint alongside the West, East, and Gulf Coasts in addition to in Alaska, Hawaii, and Puerto Rico. Maritime Companions Co-founder and CEO, Bick Brooks, referred to as Centerline’s long-standing buyer relationships and skilled staff “the form of demonstrated observe document that’s important for a long-term partnership.”

The deal underscores Maritime Companions’ technique to diversify its portfolio by asset kind, counterparties, and geography, whereas deepening its place within the home maritime sector at a time of rising demand for Jones Act–compliant operators. Maritime Companions is already one of many largest suppliers of maritime financing options for vessels within the U.S. Jones Act commerce, managing a fleet of roughly 1,800 vessels used to move commodities corresponding to agricultural merchandise, chemical compounds, aggregates, crude oil, and refined petroleum merchandise.

G.F. Homosexual Le Breton is managing director for Chaffe & Associates Inc., answerable for the company finance actions of the agency. Mitch Murray is a company finance analyst with the agency. Funding banking providers are supplied by Chaffe Securities Inc., member FINRA/SIPC. For extra info, go to http://chaffe-associates.com.