Nicholas Sandler has assumed the role of chief executive officer of Stonebriar Commercial Finance, a Dallas-based provider of asset-based private credit solutions. 

Sandler, who’s 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. Fate will remain as senior advisor and vice chairman of Stonebriar through 2025.

“Leading Stonebriar over the past nine years has been an incredible journey, and I’m immensely proud of what we’ve built,” Fate said in a statement. “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.”

Todd Boehly, chairman and CEO of Eldridge Industries, Stonebriar’s controlling shareholder, said Sandler has earned the trust of Stonebriar’s team, clients, and partners. 

“I’ve had the privilege of working closely with Nick for two decades, and I couldn’t be more confident in his leadership,” Boehly said in a statement. “Nick has deep industry expertise making significant contributions to Stonebriar’s success to date.” 

Eldridge’s president, Tony Minella, agreed with Boehly about Stonebrian’s new CEO. 

Sandler “has been instrumental in growing Stonebriar into the market leader it is today,” Minella said in a statement. “Together, we’ve built significant value and have prepared the next generation of our organization to capitalize on future growth.”

Stonebriar, an Eldridge Industries business, offers customized financing, including leases, secured term loans, and other structured finance solutions across a diverse set of industries, including manufacturing, marine, aviation, rail, energy, and real estate in North America and select foreign jurisdictions. It has $7.3 billion of owned and serviced assets.

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