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Tiger Group Selling Robot-Automated Parts-Coating Lines and Other Assets Formerly Owned by Wheel Specialist Winona PVD Coatings
March 23, 2021Tiger Group is now accepting bulk offers for four robot-automated parts-washing, powder-coating and vacuum metallizing lines formerly owned by Winona PVD Coatings—a Tier-One finisher that chrome-coated wheels for top automakers from around the globe. The company was placed in receivership in 2020.
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Digi International Enters Into Amended and Restated Credit Agreement
March 22, 2021Digi International Inc. (NASDAQ: DGII), a leading global provider of business and mission critical Internet of Things ("IoT") connectivity products, services and solutions, today announced it has entered into an amended and restated credit agreement with BMO Harris Bank N.A. as administrative agent and collateral agent. The new facility provides Digi with a senior secured credit facility consisting of a $200 million senior secured revolving credit facility with an option to increase the size of the facility by an additional $75 million.
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EisnerAmper Launches “NFP Insights” Benchmarking Tool
March 22, 2021EisnerAmper is pleased to announce that it has launched NFP Insights, a proprietary benchmarking tool that can compare a nonprofit organization against a database of 500,000 other nonprofits. Designed for tax-exempt organizations, donors, grant makers, board members and family offices, this unique tool can segment organizations by geography, revenue and number of employees.
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Antares Capital Refinances and Upsizes Antares CLO 2017-1, Bringing CLO Assets Under Management to $7.7 Billion
March 22, 2021Antares Capital Advisers LLC, a subsidiary of Antares Capital LP (together with its parent companies, “Antares” or the “Company”) announced the closing of the reset of Antares CLO 2017-1, Ltd., originally a $2.1 billion CLO that was upsized to $2.3 billion as part of the transaction. The upsize brings the company’s total CLO assets under management to approximately $7.7 billion.
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Bryant Park Capital Secures a Senior Debt Facility for Healthcare Funding Partners, LLC
March 22, 2021Bryant Park Capital ("BPC"), a leading middle market investment bank, announced today that Healthcare Funding Partners, LLC ("HFP" or the "Company") recently closed on a senior secured debt transaction with a global asset management firm with more than $100 billion in assets under management. BPC served as the exclusive financial advisor to HFP in connection with this transaction.
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Universal Stainless Announces Amended and Restated Credit Agreement
March 22, 2021Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP) announced today that it has amended and restated its five-year $120 million asset-based lending (ABL) credit agreement with PNC Bank, National Association. The new agreement includes a revolving credit facility of $105 million and increases the term loan facility to $15 million.
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Berkshire Hills Bancorp, Inc. Appoints Subhadeep Basu Chief Financial Officer
March 22, 2021Berkshire Hills Bancorp, Inc. (NYSE: BHLB), the parent company of Berkshire Bank, announced today that Subhadeep Basu was appointed Senior Executive Vice President, Chief Financial Officer of the Company and the Bank. Mr. Basu will succeed James M. Moses, who has chosen to leave the company as of March 19th to pursue other interests.
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BlueVine Appoints Former LendingClub President and PayPal Veteran Steve Allocca as First Chief Operating Officer
March 22, 2021BlueVine, the leading provider of small business banking, announced today that it has named industry veteran Steve Allocca as its first Chief Operating Officer. In this role, Allocca will generate strong operational efficiency across the organization and drive growth across all products. He will report to Eyal Lifshitz, CEO and co-founder.
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One Team Capital Appoints Veteran Financial Executive W. Taylor Kamp as Chief Executive Officer
March 22, 2021OneTeam Capital (OTC), an industry leading underwriting and credit analysis company providing the best quality commercial financing solutions to small and medium sized businesses, today announced that its membership has appointed specialty finance industry veteran W. Taylor Kamp as Chief Executive Officer, effective March 11th, 2021. Mr. Kamp brings an impressive 35 year career of building and growing businesses to OTC. Kamp most recently served as the Chief Financial Officer of Marlin Capital Solutions.
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Atotech Announces Refinancing of Senior Secured Credit Facilities
March 18, 2021Goldman Sachs Bank USA serves as administrative agent and collateral agent under the Credit Agreement and Goldman Sachs Bank USA, JPMorgan Chase Bank, N.A, Barclays Bank Plc, Credit Suisse International, Credit Suisse Loan Funding LLC, Citibank, N.A., London Branch, Unicredit Bank AG, Deutsche Bank Securities Inc., HSBC Trinkaus & Burkhardt AG, Standard Chartered Bank AG, and TCG Senior Funding L.L.C. all serve as joint lead arrangers and joint bookrunners.
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Hitachi Capital America’s Dave Gnade Retires, David Sowell Hired as Executive Vice President of Sales
March 18, 2021Hitachi Capital America Vendor Services (HCAVS), which has been providing manufacturers and distributors with creative and competitive vendor financing solutions for over 20 years, is pleased to announce the hire of David Sowell as Executive Vice President of Sales. Sowell is replacing Dave Gnade upon his retirement at the end of the fiscal year on March 31, 2021.
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Citizens Advises trustaff Management and CardioSolution on their Recapitalization by Cornell Capital and Trilantic North America
March 18, 2021Citizens M&A Advisory announced today that it served as the exclusive financial advisor to trustaff Management, Inc. and CardioSolution on their recapitalization by Cornell Capital and Trilantic North America, two New York-based private equity firms.
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Owl Rock Business Development Companies' Shareholders Approve Proposals Related to Blue Owl Transaction
March 18, 2021Owl Rock Capital ("Owl Rock"), a leading alternative asset manager, announced today that it has received approval from the shareholders of each of its four requisite business development companies ("BDCs") for new investment advisory agreements related to the recently announced combination of Owl Rock and Dyal Capital Partners to form Blue Owl Capital.
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Canopy Growth Announces US$750 Million Term Loan Financing
March 18, 2021Canopy Growth Corporation ("Canopy Growth" or "Canopy" or the "Company") (TSX: WEED) (NASDAQ: CGC) is pleased to announce that it has entered into a credit agreement (the "Credit Agreement") with Funds advised by King Street Capital Management, L.P. ("King Street"). Under the Credit Agreement, the Company has raised a US$750 million senior secured term loan (the "Term Loan Facility"). The Company also has the ability to obtain up to an additional US$500 million of incremental senior secured debt pursuant to the Credit Agreement.
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SmartStop Self Storage REIT, Inc. Announces a New $500 Million Multi-Currency Credit Facility
March 18, 2021SmartStop Self Storage REIT, Inc. ("SmartStop") announced today that it entered into a multi-currency credit facility (the "Credit Facility") of up to $500 million with a syndicate of banks led by KeyBank National Association, Wells Fargo, N.A., Citibank, N.A. and Bank of Montreal. The facility consists of a $250 million revolving credit facility (the "Revolver") and a $250 million term loan (the "Term Loan"), and has an accordion feature permitting expansion of the Credit Facility up to $850 million, subject to certain conditions.
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Reetika Grewal Named Head of Digital for Wells Fargo Commercial Banking and Corporate & Investment Banking
March 18, 2021Wells Fargo & Company (NYSE: WFC) today announced that Reetika Grewal has been named head of Digital for Commercial Banking and Corporate & Investment Banking. She will join the company in late April and report to Ather Williams III, head of Strategy, Digital, and Innovation. She will be based in San Francisco. In this new position, Grewal will be responsible for accelerating development and implementation of commercial and corporate banking digital offerings and market-competitive capabilities. She will lead the company’s strategy to improve digital experiences for commercial and corporate clients, simplifying the way businesses interact with Wells Fargo.
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Phoenix Lending Survey Results Reveals the Third Stimulus Package Will Cause Inflationary Pressure in the U.S. Economy
March 18, 2021From the first quarter Phoenix Management “Lending Climate in America” survey results reveals the third stimulus package will cause inflationary pressure in the U.S. economy. The third stimulus package includes nearly $2 trillion in coronavirus relief funds and puts money in the hands of millions of Americans. When asked whether the United States should prepare for inflationary pressures going forward, 77% of lenders agree that these historic economic stimulus packages will cause inflationary pressure in the U.S. economy. Twenty-three percent of lenders disagree and believe the economy will be able to sustain the infusion of money and inflation will be subdued.
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Alvarez & Marsal Launches Environmental, Social and Governance Services Practice
March 18, 2021Leading global professional services firm Alvarez & Marsal (A&M), has launched its Environmental, Social and Governance (ESG) Services practice, led by Managing Director, Julie Hertzberg expanding her existing leadership role within the firm. The ESG Services practice will be integrated with A&M’s financial, operational and industry expertise, in a unique approach to meet the ESG needs of private equity (PE) firms, their portfolio companies, corporate clients, and organizations across multiple industry sectors and geographies.
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Second Avenue Capital Partners, LLC Closes on a Senior Secured Credit Facility to Cos Bar
March 17, 2021Second Avenue Capital Partners, LLC ("SACP") (www.secondavecp.com) announced it has closed on a senior secured credit facility to Cos Bar, a leading luxury specialty cosmetics retailer. The credit facility will be used to support new growth opportunities and provide additional working capital.
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Tiger Group Online Auction on March 30 Features Advanced Knitting, Dyeing and Finishing Equipment from Montréal-based Tricots-Liesse
March 17, 2021Tiger Group will begin accepting bids on March 23 for the March 30 online auction of assets from one of the best-known knitting, dyeing and finishing operations in the North American textile industry—the 250,000-square-foot Tricots-Liesse plant at 2125 Lily-Simon. The auction represents a rare opportunity to acquire state-of-the-art circular-knitting machines and dyeing and finishing equipment—including German- and Italian-made pieces like a solvent-scour machine by Sperotto and a relaxation dryer by Monforts, said John Coelho, Senior Director for Tiger’s Commercial & Industrial division.
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Tiger Group Selling Robot-Automated Parts-Coating Lines and Other Assets Formerly Owned by Wheel Specialist Winona PVD Coatings
March 23, 2021Tiger Group is now accepting bulk offers for four robot-automated parts-washing, powder-coating and vacuum metallizing lines formerly owned by Winona PVD Coatings—a Tier-One finisher that chrome-coated wheels for top automakers from around the globe. The company was placed in receivership in 2020.
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Digi International Enters Into Amended and Restated Credit Agreement
March 22, 2021Digi International Inc. (NASDAQ: DGII), a leading global provider of business and mission critical Internet of Things ("IoT") connectivity products, services and solutions, today announced it has entered into an amended and restated credit agreement with BMO Harris Bank N.A. as administrative agent and collateral agent. The new facility provides Digi with a senior secured credit facility consisting of a $200 million senior secured revolving credit facility with an option to increase the size of the facility by an additional $75 million.
-
EisnerAmper Launches “NFP Insights” Benchmarking Tool
March 22, 2021EisnerAmper is pleased to announce that it has launched NFP Insights, a proprietary benchmarking tool that can compare a nonprofit organization against a database of 500,000 other nonprofits. Designed for tax-exempt organizations, donors, grant makers, board members and family offices, this unique tool can segment organizations by geography, revenue and number of employees.
-
Antares Capital Refinances and Upsizes Antares CLO 2017-1, Bringing CLO Assets Under Management to $7.7 Billion
March 22, 2021Antares Capital Advisers LLC, a subsidiary of Antares Capital LP (together with its parent companies, “Antares” or the “Company”) announced the closing of the reset of Antares CLO 2017-1, Ltd., originally a $2.1 billion CLO that was upsized to $2.3 billion as part of the transaction. The upsize brings the company’s total CLO assets under management to approximately $7.7 billion.
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Bryant Park Capital Secures a Senior Debt Facility for Healthcare Funding Partners, LLC
March 22, 2021Bryant Park Capital ("BPC"), a leading middle market investment bank, announced today that Healthcare Funding Partners, LLC ("HFP" or the "Company") recently closed on a senior secured debt transaction with a global asset management firm with more than $100 billion in assets under management. BPC served as the exclusive financial advisor to HFP in connection with this transaction.
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Universal Stainless Announces Amended and Restated Credit Agreement
March 22, 2021Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP) announced today that it has amended and restated its five-year $120 million asset-based lending (ABL) credit agreement with PNC Bank, National Association. The new agreement includes a revolving credit facility of $105 million and increases the term loan facility to $15 million.
-
Berkshire Hills Bancorp, Inc. Appoints Subhadeep Basu Chief Financial Officer
March 22, 2021Berkshire Hills Bancorp, Inc. (NYSE: BHLB), the parent company of Berkshire Bank, announced today that Subhadeep Basu was appointed Senior Executive Vice President, Chief Financial Officer of the Company and the Bank. Mr. Basu will succeed James M. Moses, who has chosen to leave the company as of March 19th to pursue other interests.
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BlueVine Appoints Former LendingClub President and PayPal Veteran Steve Allocca as First Chief Operating Officer
March 22, 2021BlueVine, the leading provider of small business banking, announced today that it has named industry veteran Steve Allocca as its first Chief Operating Officer. In this role, Allocca will generate strong operational efficiency across the organization and drive growth across all products. He will report to Eyal Lifshitz, CEO and co-founder.
-
One Team Capital Appoints Veteran Financial Executive W. Taylor Kamp as Chief Executive Officer
March 22, 2021OneTeam Capital (OTC), an industry leading underwriting and credit analysis company providing the best quality commercial financing solutions to small and medium sized businesses, today announced that its membership has appointed specialty finance industry veteran W. Taylor Kamp as Chief Executive Officer, effective March 11th, 2021. Mr. Kamp brings an impressive 35 year career of building and growing businesses to OTC. Kamp most recently served as the Chief Financial Officer of Marlin Capital Solutions.
-
Atotech Announces Refinancing of Senior Secured Credit Facilities
March 18, 2021Goldman Sachs Bank USA serves as administrative agent and collateral agent under the Credit Agreement and Goldman Sachs Bank USA, JPMorgan Chase Bank, N.A, Barclays Bank Plc, Credit Suisse International, Credit Suisse Loan Funding LLC, Citibank, N.A., London Branch, Unicredit Bank AG, Deutsche Bank Securities Inc., HSBC Trinkaus & Burkhardt AG, Standard Chartered Bank AG, and TCG Senior Funding L.L.C. all serve as joint lead arrangers and joint bookrunners.
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Hitachi Capital America’s Dave Gnade Retires, David Sowell Hired as Executive Vice President of Sales
March 18, 2021Hitachi Capital America Vendor Services (HCAVS), which has been providing manufacturers and distributors with creative and competitive vendor financing solutions for over 20 years, is pleased to announce the hire of David Sowell as Executive Vice President of Sales. Sowell is replacing Dave Gnade upon his retirement at the end of the fiscal year on March 31, 2021.
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Citizens Advises trustaff Management and CardioSolution on their Recapitalization by Cornell Capital and Trilantic North America
March 18, 2021Citizens M&A Advisory announced today that it served as the exclusive financial advisor to trustaff Management, Inc. and CardioSolution on their recapitalization by Cornell Capital and Trilantic North America, two New York-based private equity firms.
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Owl Rock Business Development Companies' Shareholders Approve Proposals Related to Blue Owl Transaction
March 18, 2021Owl Rock Capital ("Owl Rock"), a leading alternative asset manager, announced today that it has received approval from the shareholders of each of its four requisite business development companies ("BDCs") for new investment advisory agreements related to the recently announced combination of Owl Rock and Dyal Capital Partners to form Blue Owl Capital.
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Canopy Growth Announces US$750 Million Term Loan Financing
March 18, 2021Canopy Growth Corporation ("Canopy Growth" or "Canopy" or the "Company") (TSX: WEED) (NASDAQ: CGC) is pleased to announce that it has entered into a credit agreement (the "Credit Agreement") with Funds advised by King Street Capital Management, L.P. ("King Street"). Under the Credit Agreement, the Company has raised a US$750 million senior secured term loan (the "Term Loan Facility"). The Company also has the ability to obtain up to an additional US$500 million of incremental senior secured debt pursuant to the Credit Agreement.
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SmartStop Self Storage REIT, Inc. Announces a New $500 Million Multi-Currency Credit Facility
March 18, 2021SmartStop Self Storage REIT, Inc. ("SmartStop") announced today that it entered into a multi-currency credit facility (the "Credit Facility") of up to $500 million with a syndicate of banks led by KeyBank National Association, Wells Fargo, N.A., Citibank, N.A. and Bank of Montreal. The facility consists of a $250 million revolving credit facility (the "Revolver") and a $250 million term loan (the "Term Loan"), and has an accordion feature permitting expansion of the Credit Facility up to $850 million, subject to certain conditions.
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Reetika Grewal Named Head of Digital for Wells Fargo Commercial Banking and Corporate & Investment Banking
March 18, 2021Wells Fargo & Company (NYSE: WFC) today announced that Reetika Grewal has been named head of Digital for Commercial Banking and Corporate & Investment Banking. She will join the company in late April and report to Ather Williams III, head of Strategy, Digital, and Innovation. She will be based in San Francisco. In this new position, Grewal will be responsible for accelerating development and implementation of commercial and corporate banking digital offerings and market-competitive capabilities. She will lead the company’s strategy to improve digital experiences for commercial and corporate clients, simplifying the way businesses interact with Wells Fargo.
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Phoenix Lending Survey Results Reveals the Third Stimulus Package Will Cause Inflationary Pressure in the U.S. Economy
March 18, 2021From the first quarter Phoenix Management “Lending Climate in America” survey results reveals the third stimulus package will cause inflationary pressure in the U.S. economy. The third stimulus package includes nearly $2 trillion in coronavirus relief funds and puts money in the hands of millions of Americans. When asked whether the United States should prepare for inflationary pressures going forward, 77% of lenders agree that these historic economic stimulus packages will cause inflationary pressure in the U.S. economy. Twenty-three percent of lenders disagree and believe the economy will be able to sustain the infusion of money and inflation will be subdued.
-
Alvarez & Marsal Launches Environmental, Social and Governance Services Practice
March 18, 2021Leading global professional services firm Alvarez & Marsal (A&M), has launched its Environmental, Social and Governance (ESG) Services practice, led by Managing Director, Julie Hertzberg expanding her existing leadership role within the firm. The ESG Services practice will be integrated with A&M’s financial, operational and industry expertise, in a unique approach to meet the ESG needs of private equity (PE) firms, their portfolio companies, corporate clients, and organizations across multiple industry sectors and geographies.
-
Second Avenue Capital Partners, LLC Closes on a Senior Secured Credit Facility to Cos Bar
March 17, 2021Second Avenue Capital Partners, LLC ("SACP") (www.secondavecp.com) announced it has closed on a senior secured credit facility to Cos Bar, a leading luxury specialty cosmetics retailer. The credit facility will be used to support new growth opportunities and provide additional working capital.
-
Tiger Group Online Auction on March 30 Features Advanced Knitting, Dyeing and Finishing Equipment from Montréal-based Tricots-Liesse
March 17, 2021Tiger Group will begin accepting bids on March 23 for the March 30 online auction of assets from one of the best-known knitting, dyeing and finishing operations in the North American textile industry—the 250,000-square-foot Tricots-Liesse plant at 2125 Lily-Simon. The auction represents a rare opportunity to acquire state-of-the-art circular-knitting machines and dyeing and finishing equipment—including German- and Italian-made pieces like a solvent-scour machine by Sperotto and a relaxation dryer by Monforts, said John Coelho, Senior Director for Tiger’s Commercial & Industrial division.
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