Mavik Capital and Axar Capital completed the acquisition of XS FINANCIAL.

Mavik Capital, a multi-strategy investment firm, and Axar Capital, a value-oriented alternative asset management, completed the acquisition of XS FINANCIAL, a company specialized in providing middle-market businesses with competitively priced, non-dilutive CAPEX and equipment financing. Financial terms were not disclosed. "We are thrilled to partner with Mavik and Axar, two experienced credit investors with a strong history of collaboration and innovation that makes them the ideal partners for XS. Both Mavik and Axar bring a deep understanding of the unique needs of our borrowers, coupled with exceptional track records in middle-market investing, which will differentiate us for our customers, partners and team moving forward. As a private company, we will now have the flexibility to scale our business and expand into new verticals, capitalizing on the growing demand for CAPEX financing in the market," David Kivitz, XS CEO.