Stonebriar Commercial Finance, a provider of asset-based private credit solutions with $7.3 billion of owned and serviced assets, appointed Nicholas Sandler as CEO. Sandler, who has served as Stonebriar’s president since June 2021 and co-founded the business, succeeds fellow co-founder Dave B. Fate, who is stepping down after more than nine years of distinguished leadership. Fate will remain as senior advisor and vice chairman of Stonebriar through 2025.

“I met Dave over ten years ago. Our partnership has been fantastic,” Tony Minella, president of Eldridge Industries, Stonebriar’s controlling shareholder, said. “He has been instrumental in growing Stonebriar into the market leader it is today. Together, we’ve built significant value and have prepared the next generation of our organization to capitalize on future growth. We are deeply appreciative and proud of his contributions.”

“I’ve had the privilege of working closely with Nick for two decades and I couldn’t be more confident in his leadership,” Todd Boehly, chairman and CEO of Eldridge Industries, said. “Nick has deep industry expertise making significant contributions to Stonebriar’s success to date and has earned the trust of our team, our clients, and our partners. I am excited to see how his determination and leadership will drive Stonebriar in the years ahead.”

“Leading Stonebriar over the past nine years has been an incredible journey, and I’m immensely proud of what we’ve built,” Fate said. “I am confident that Nick, as someone who has been deeply involved in the company from its inception, is the right person to guide Stonebriar into its next chapter. I look forward to seeing all that he and the team will accomplish.”