Pine Tree Equity Recapitalizes Federal National Payables

Pine Tree Equity II, LP (“Pine Tree Equity”) recapitalized Federal National Payables, Inc. (“Federal National” or the “Company”) in December 2010.  The Company, founded in 1992 and headquartered in Bethesda, MD, is a leading national provider of factoring (i.e., accounts receivable financing), primarily for businesses with accounts receivable from federal, state and municipal governments.  For additional information, please visit www.federalnational.com.

Pine Tree Equity partnered with the senior management of Federal National, who has been integral to the Company’s success since its inception, to recapitalize the factoring platform in order to materially expand its asset base. Pine Tree Equity closed the transaction 37 days after signing the letter of intent. Federal National marks Pine Tree Equity’s 2nd investment in the financial services industry, and 12th investment since its inception in 2007.