• Summit Midstream Partners, LP Announces Anticipated Closing Date of SMP Holdings' Term Loan Restructuring & Concurrent Full Settlement of DPPO
    November 17, 2020
    Summit Midstream Partners, LP (NYSE: SMLP) announced today that substantially all closing conditions to the previously announced consensual Term Loan restructuring transaction (the "TL Restructuring") involving its wholly owned, indirect subsidiary, Summit Midstream Partners Holdings, LLC ("SMP Holdings") have been satisfied. Lenders collectively holding 100% of the aggregate principal amount of claims, including the approximately $155.2 million in principal amount outstanding, under SMP Holdings' Term Loan (the "Term Loan") have consented to the TL Restructuring and, at closing, will receive their pro rata shares of consideration consisting of $26.5 million of cash and approximately 2.3 million SMLP common units currently pledged as collateral under the Term Loan
  • John P. Malfettone Joins Alvarez & Marsal’s Global Transaction Advisory Group as a Senior Advisor
    November 17, 2020
    Leading global professional services firm Alvarez & Marsal (A&M) has appointed John P. Malfettone as Senior Advisor with the firm’s Global Transaction Advisory Group. Mr. Malfettone will work with Global Transaction Advisory leaders to identify solutions to maximize emerging merger and acquisition (M&A) and private equity trends. His appointment boosts the firm’s bench of senior transaction advisors and reflects its commitment to expanding executive leadership talent in support of clients’ increasingly complex demands.
  • Andrew Wilson Joins Rockland Trust’s Asset Based Lending Team
    November 17, 2020
    Rockland Trust announced today the hiring of Andrew Wilson as Vice President, Relationship Manager as part of their Asset-Based Lending Department. In this role, Andrew will be responsible for managing a portfolio of asset-based lending relationships, while attracting new clients to the team.
  • King Trade Capital Provides a $4.5 Million Supply Chain Finance Facility For NY Medical Gown Supplier
    November 17, 2020
    King Trade Capital is pleased to announce the completion of a $4.5 million purchase order-based supply chain finance facility for a New York based PPE distributor importing medical gowns to be delivered to the US Government. King Trade was contacted by a nationwide asset-based lender that was asked to help find a PO Finance partner to finance the gown company’s large contract awarded by the US Government. The government contract created a supply chain finance need to help the client pay for the production of gowns manufactured in China and ship them to the US.
  • Flatbay Capital LLC Closes $2.4MM CRE Loan for Private Equity-Owned Steel Distributor
    November 17, 2020
    Flatbay Capital LLC (“Flatbay”) (www.flatbay.com) announces the closing of a $2,400,000 commercial real estate term loan for a private equity-owned steel distributor based in Houston. The deal was referred by their large regional bank, who wasn’t able to provide the working capital due to regulations, the client’s current cash flow position, and the percentage of exposure in the energy sector. The property was used as collateral for the 2-year interest only term loan, and provided the perfect solution to bridge the gap until the economy recovers.
  • Business Capital Secures Financing for Women’s Footwear Group
    November 17, 2020
    Business Capital (BIZCAP®) secured a Credit Facility for a leading curator of world class footwear brands for women, in business for over 80 years. The Company is unique in that it offers extended sizes in each of their brands, all of which are innovatively designed to balance comfort and fashion and are crafted from premium quality materials. T
  • Republic Provides a $2.5m Traditional Factoring Facility for a Los Angeles based Apparel Importer
    November 17, 2020
    When a Los Angeles apparel manufacturing and import company sought funding for their 2020 Holiday season orders, they chose Republic Business Credit to accelerate their growth. Republic approved a traditional factoring facility to fund their confirmed orders for the Holiday season, including an additional shipment of Personal Protective Equipment (“PPE”) in the late summer. Republic fully approved the customer limits necessary to enable the company to fulfill the large purchase orders and the add on line for PPE products in the midst of Covid-19.
  • Gemino Healthcare Finance Provides Financing for Skilled Nursing Operator
    November 17, 2020
    Gemino Healthcare Finance is pleased to announce it has provided $3 million in financing in the form of an asset-based revolving line of credit to a skilled nursing operator.
  • Capital One Closes $485 Million Upsize to Covis Group’s Senior Credit Facility
    November 17, 2020
    Capital One announced today that it served as administrative agent and lead arranger for an amended and restated credit facility totaling approximately $960 million for Covis Group S.á.r.l. This includes a $485 million upsize to its existing facility in support of the company’s acquisition of AMAG Pharmaceuticals.
  • Brian Banning Joins First Business Capital Corp. as Vice President – Business Development
    November 16, 2020
    First Business Capital Corp., a division of First Business Financial Services, Inc. (Nasdaq: FBIZ) is pleased to announce that Brian Banning was hired as Vice President – Business Development with over 30 years of experience in financial services. He is located in the Detroit metro area.
  • Gunvor Successfully Closes USD 1.225 Billion Revolving Credit Facility
    November 16, 2020
    Coöperatieve Rabobank U.A., Credit Agricole Corporate and Investment Bank, Credit Suisse (Switzerland) Ltd., ING Bank N.V., Natixis, Société Générale, UBS Switzerland AG and UniCredit Bank AG (together the "Bookrunning Mandated Lead Arrangers") were mandated to arrange the Facility. Coöperatieve Rabobank U.A., Credit Agricole Corporate and Investment Bank, ING Bank N.V., Natixis, Société Générale and UniCredit Bank AG acted as Active Bookrunners while Credit Suisse (Switzerland) Ltd is Facility and Swingline Agent. Emirates NBD PJSC joined as Senior Mandated Lead Arranger.
  • Libbey Successfully Completes Financial Restructuring and Emerges from Chapter 11
    November 16, 2020
    Libbey Inc., one of the world's largest glass tableware manufacturers, today announced that it has successfully completed its financial restructuring and emerged from Chapter 11. Through its Plan of Reorganization, Libbey Inc. is emerging from Chapter 11 as a new private company formed and controlled by Libbey Inc.'s former lenders, Libbey Glass LLC (the "Company" and together with Libbey Inc., "Libbey"), and will remain under the same leadership. The Company emerges with substantial liquidity, supported by proceeds from a $150 million term loan and a $100 million asset-based lending facility.
  • Mesa Air Group Completes Second Closing On Secured Loan Facility, Receiving an Additional $152 Million
    November 16, 2020
    Mesa Air Group, Inc. (NASDAQ: MESA) today announced that it has completed a second closing through its previously disclosed five-year Loan and Guarantee Agreement under the Coronavirus Air, Relief, and Economic Security Act (CARES Act). The Loan Agreement provided a secured term loan facility of up to $200 million. On October 30, 2020, Mesa borrowed $43 million under the facility and today, completed a second closing to borrow an additional $152 million. These funds may be used for general corporate purposes and operating expenses, to the extent permitted by the CARES Act.
  • Enterprise Financial Services Corp Announces Completion of Merger With Seacoast Commerce Banc Holdings
    November 16, 2020
    Enterprise Financial Services Corp (Nasdaq: EFSC) (“Enterprise”), the holding company of Enterprise Bank & Trust (“EB&T”), announced today the completion of its merger with Seacoast Commerce Banc Holdings (“Seacoast”), effective November 12, 2020, and the merger of EB&T with Seacoast’s wholly owned subsidiary, Seacoast Commerce Bank (“Seacoast Bank”). The merger adds approximately $1.3 billion in assets, $1.2 billion in loans and $1.0 billion in deposits to Enterprise. Following the merger, Enterprise will have approximately $9.7 billion in total assets.
  • TAB Bank Provides Additional $4 Million Credit Facility to Support Related Canadian Entity of an Existing Client
    November 16, 2020
    TAB Bank is pleased to announce it has provided an additional $4 million revolving credit facility to support related Canadian entity of an existing client. This entity of TAB’s existing client is a key provider of aftermarket support solutions for the global aerospace and defense industries including the maintenance, repair, and overhaul of engines, components, and related accessories.
  • U.S. Bank Expands its Global Fund Services Offerings, Opens Luxembourg Office
    November 16, 2020
    U.S. Bank today announced the opening of their Luxembourg office, which provides fund accounting and administration, domiciliation, depositary and custody-related services for Luxembourg-domiciled funds. Didier Delvaux, who joined U.S. Bank earlier this year as Luxembourg Country Head, will oversee the office. He has more than 25 years of fund administration and custody experience. Prior to joining U.S. Bank, Delvaux was at State Street, where he was head of fund administration, and prior to that, chief operating officer, Luxembourg and Ireland.
  • Bryan Cave Leighton Paisner Adds Experienced Finance Partner in Chicago From Vedder Price
    November 16, 2020
    The international law firm Bryan Cave Leighton Paisner (BCLP) today announced that Paul Hoffman has joined the firm as a partner within the Banking Practice Group. He will be based in the Chicago office. Hoffman has extensive experience in structuring, documenting and negotiating commercial loan transactions, including senior and mezzanine credit facilities, asset-based and cash flow credit facilities, acquisition financing and cross-border loan transactions.
  • FocalPoint Advises Printed Circuits on its Sale to All Flex, a portfolio company of Granite Equity Partners
    November 16, 2020
    Printed Circuits, Inc. (“PCI” or the “Company”), a leading rigid-flex printed circuit board (“PCB”) manufacturer, has been acquired by All Flex Flexible Circuits, LLC (“All Flex”), a portfolio company of Granite Equity Partners (“Granite”). FocalPoint Partners, LLC (“FocalPoint”) served as exclusive financial advisor to PCI. Founded in 1977, PCI has over 40 years of experience developing high reliability rigid-flex printed circuit boards and other specialty electronics that enable and support mission critical technologies for OEM customers in aerospace, defense, medical device, and other specialty industrial markets.
  • Restructuring Professional Gennaday Spivak Joins Clear Thinking Group
    November 16, 2020
    Clear Thinking Group LLC announced today that Gennady Spivak has joined the firm as a Managing Director. Mr. Spivak is an accomplished professional with a proven record in bankruptcy and insolvency, financial analysis, forensic accounting, fraud investigation, litigation support and wind down management.
  • Solar Cell Manufacturing Equipment and Intellectual Property from Alta Devices Now Available for Bulk or Piecemeal Purchase
    November 16, 2020
    Liquidity Services, Tiger Group, Maynards Industries and GES Associates LLC today announced their appointment to jointly manage a bulk and piecemeal sale of the assets of Alta Devices due to a complete facility closure. Alta pioneered and manufactured extreme efficiency GaAs Flexible Thin Film Solar cells used in many applications, including satellites and vehicles.
  • Summit Midstream Partners, LP Announces Anticipated Closing Date of SMP Holdings' Term Loan Restructuring & Concurrent Full Settlement of DPPO
    November 17, 2020
    Summit Midstream Partners, LP (NYSE: SMLP) announced today that substantially all closing conditions to the previously announced consensual Term Loan restructuring transaction (the "TL Restructuring") involving its wholly owned, indirect subsidiary, Summit Midstream Partners Holdings, LLC ("SMP Holdings") have been satisfied. Lenders collectively holding 100% of the aggregate principal amount of claims, including the approximately $155.2 million in principal amount outstanding, under SMP Holdings' Term Loan (the "Term Loan") have consented to the TL Restructuring and, at closing, will receive their pro rata shares of consideration consisting of $26.5 million of cash and approximately 2.3 million SMLP common units currently pledged as collateral under the Term Loan
  • John P. Malfettone Joins Alvarez & Marsal’s Global Transaction Advisory Group as a Senior Advisor
    November 17, 2020
    Leading global professional services firm Alvarez & Marsal (A&M) has appointed John P. Malfettone as Senior Advisor with the firm’s Global Transaction Advisory Group. Mr. Malfettone will work with Global Transaction Advisory leaders to identify solutions to maximize emerging merger and acquisition (M&A) and private equity trends. His appointment boosts the firm’s bench of senior transaction advisors and reflects its commitment to expanding executive leadership talent in support of clients’ increasingly complex demands.
  • Andrew Wilson Joins Rockland Trust’s Asset Based Lending Team
    November 17, 2020
    Rockland Trust announced today the hiring of Andrew Wilson as Vice President, Relationship Manager as part of their Asset-Based Lending Department. In this role, Andrew will be responsible for managing a portfolio of asset-based lending relationships, while attracting new clients to the team.
  • King Trade Capital Provides a $4.5 Million Supply Chain Finance Facility For NY Medical Gown Supplier
    November 17, 2020
    King Trade Capital is pleased to announce the completion of a $4.5 million purchase order-based supply chain finance facility for a New York based PPE distributor importing medical gowns to be delivered to the US Government. King Trade was contacted by a nationwide asset-based lender that was asked to help find a PO Finance partner to finance the gown company’s large contract awarded by the US Government. The government contract created a supply chain finance need to help the client pay for the production of gowns manufactured in China and ship them to the US.
  • Flatbay Capital LLC Closes $2.4MM CRE Loan for Private Equity-Owned Steel Distributor
    November 17, 2020
    Flatbay Capital LLC (“Flatbay”) (www.flatbay.com) announces the closing of a $2,400,000 commercial real estate term loan for a private equity-owned steel distributor based in Houston. The deal was referred by their large regional bank, who wasn’t able to provide the working capital due to regulations, the client’s current cash flow position, and the percentage of exposure in the energy sector. The property was used as collateral for the 2-year interest only term loan, and provided the perfect solution to bridge the gap until the economy recovers.
  • Business Capital Secures Financing for Women’s Footwear Group
    November 17, 2020
    Business Capital (BIZCAP®) secured a Credit Facility for a leading curator of world class footwear brands for women, in business for over 80 years. The Company is unique in that it offers extended sizes in each of their brands, all of which are innovatively designed to balance comfort and fashion and are crafted from premium quality materials. T
  • Republic Provides a $2.5m Traditional Factoring Facility for a Los Angeles based Apparel Importer
    November 17, 2020
    When a Los Angeles apparel manufacturing and import company sought funding for their 2020 Holiday season orders, they chose Republic Business Credit to accelerate their growth. Republic approved a traditional factoring facility to fund their confirmed orders for the Holiday season, including an additional shipment of Personal Protective Equipment (“PPE”) in the late summer. Republic fully approved the customer limits necessary to enable the company to fulfill the large purchase orders and the add on line for PPE products in the midst of Covid-19.
  • Gemino Healthcare Finance Provides Financing for Skilled Nursing Operator
    November 17, 2020
    Gemino Healthcare Finance is pleased to announce it has provided $3 million in financing in the form of an asset-based revolving line of credit to a skilled nursing operator.
  • Capital One Closes $485 Million Upsize to Covis Group’s Senior Credit Facility
    November 17, 2020
    Capital One announced today that it served as administrative agent and lead arranger for an amended and restated credit facility totaling approximately $960 million for Covis Group S.á.r.l. This includes a $485 million upsize to its existing facility in support of the company’s acquisition of AMAG Pharmaceuticals.
  • Brian Banning Joins First Business Capital Corp. as Vice President – Business Development
    November 16, 2020
    First Business Capital Corp., a division of First Business Financial Services, Inc. (Nasdaq: FBIZ) is pleased to announce that Brian Banning was hired as Vice President – Business Development with over 30 years of experience in financial services. He is located in the Detroit metro area.
  • Gunvor Successfully Closes USD 1.225 Billion Revolving Credit Facility
    November 16, 2020
    Coöperatieve Rabobank U.A., Credit Agricole Corporate and Investment Bank, Credit Suisse (Switzerland) Ltd., ING Bank N.V., Natixis, Société Générale, UBS Switzerland AG and UniCredit Bank AG (together the "Bookrunning Mandated Lead Arrangers") were mandated to arrange the Facility. Coöperatieve Rabobank U.A., Credit Agricole Corporate and Investment Bank, ING Bank N.V., Natixis, Société Générale and UniCredit Bank AG acted as Active Bookrunners while Credit Suisse (Switzerland) Ltd is Facility and Swingline Agent. Emirates NBD PJSC joined as Senior Mandated Lead Arranger.
  • Libbey Successfully Completes Financial Restructuring and Emerges from Chapter 11
    November 16, 2020
    Libbey Inc., one of the world's largest glass tableware manufacturers, today announced that it has successfully completed its financial restructuring and emerged from Chapter 11. Through its Plan of Reorganization, Libbey Inc. is emerging from Chapter 11 as a new private company formed and controlled by Libbey Inc.'s former lenders, Libbey Glass LLC (the "Company" and together with Libbey Inc., "Libbey"), and will remain under the same leadership. The Company emerges with substantial liquidity, supported by proceeds from a $150 million term loan and a $100 million asset-based lending facility.
  • Mesa Air Group Completes Second Closing On Secured Loan Facility, Receiving an Additional $152 Million
    November 16, 2020
    Mesa Air Group, Inc. (NASDAQ: MESA) today announced that it has completed a second closing through its previously disclosed five-year Loan and Guarantee Agreement under the Coronavirus Air, Relief, and Economic Security Act (CARES Act). The Loan Agreement provided a secured term loan facility of up to $200 million. On October 30, 2020, Mesa borrowed $43 million under the facility and today, completed a second closing to borrow an additional $152 million. These funds may be used for general corporate purposes and operating expenses, to the extent permitted by the CARES Act.
  • Enterprise Financial Services Corp Announces Completion of Merger With Seacoast Commerce Banc Holdings
    November 16, 2020
    Enterprise Financial Services Corp (Nasdaq: EFSC) (“Enterprise”), the holding company of Enterprise Bank & Trust (“EB&T”), announced today the completion of its merger with Seacoast Commerce Banc Holdings (“Seacoast”), effective November 12, 2020, and the merger of EB&T with Seacoast’s wholly owned subsidiary, Seacoast Commerce Bank (“Seacoast Bank”). The merger adds approximately $1.3 billion in assets, $1.2 billion in loans and $1.0 billion in deposits to Enterprise. Following the merger, Enterprise will have approximately $9.7 billion in total assets.
  • TAB Bank Provides Additional $4 Million Credit Facility to Support Related Canadian Entity of an Existing Client
    November 16, 2020
    TAB Bank is pleased to announce it has provided an additional $4 million revolving credit facility to support related Canadian entity of an existing client. This entity of TAB’s existing client is a key provider of aftermarket support solutions for the global aerospace and defense industries including the maintenance, repair, and overhaul of engines, components, and related accessories.
  • U.S. Bank Expands its Global Fund Services Offerings, Opens Luxembourg Office
    November 16, 2020
    U.S. Bank today announced the opening of their Luxembourg office, which provides fund accounting and administration, domiciliation, depositary and custody-related services for Luxembourg-domiciled funds. Didier Delvaux, who joined U.S. Bank earlier this year as Luxembourg Country Head, will oversee the office. He has more than 25 years of fund administration and custody experience. Prior to joining U.S. Bank, Delvaux was at State Street, where he was head of fund administration, and prior to that, chief operating officer, Luxembourg and Ireland.
  • Bryan Cave Leighton Paisner Adds Experienced Finance Partner in Chicago From Vedder Price
    November 16, 2020
    The international law firm Bryan Cave Leighton Paisner (BCLP) today announced that Paul Hoffman has joined the firm as a partner within the Banking Practice Group. He will be based in the Chicago office. Hoffman has extensive experience in structuring, documenting and negotiating commercial loan transactions, including senior and mezzanine credit facilities, asset-based and cash flow credit facilities, acquisition financing and cross-border loan transactions.
  • FocalPoint Advises Printed Circuits on its Sale to All Flex, a portfolio company of Granite Equity Partners
    November 16, 2020
    Printed Circuits, Inc. (“PCI” or the “Company”), a leading rigid-flex printed circuit board (“PCB”) manufacturer, has been acquired by All Flex Flexible Circuits, LLC (“All Flex”), a portfolio company of Granite Equity Partners (“Granite”). FocalPoint Partners, LLC (“FocalPoint”) served as exclusive financial advisor to PCI. Founded in 1977, PCI has over 40 years of experience developing high reliability rigid-flex printed circuit boards and other specialty electronics that enable and support mission critical technologies for OEM customers in aerospace, defense, medical device, and other specialty industrial markets.
  • Restructuring Professional Gennaday Spivak Joins Clear Thinking Group
    November 16, 2020
    Clear Thinking Group LLC announced today that Gennady Spivak has joined the firm as a Managing Director. Mr. Spivak is an accomplished professional with a proven record in bankruptcy and insolvency, financial analysis, forensic accounting, fraud investigation, litigation support and wind down management.
  • Solar Cell Manufacturing Equipment and Intellectual Property from Alta Devices Now Available for Bulk or Piecemeal Purchase
    November 16, 2020
    Liquidity Services, Tiger Group, Maynards Industries and GES Associates LLC today announced their appointment to jointly manage a bulk and piecemeal sale of the assets of Alta Devices due to a complete facility closure. Alta pioneered and manufactured extreme efficiency GaAs Flexible Thin Film Solar cells used in many applications, including satellites and vehicles.