Bankrupt healthcare and food, beverage and consumer companies' relatively high reorganization multiples and stable cash flow profiles promoted mostly strong recoveries at the first-lien level, according to a new Fitch Ratings report.

Pemberton, a leading European private credit asset manager, backed by UK insurer Legal & General Group PLC, today announced the latest step in its strategic expansion into the US and Canadian market with the appointment of Scott Hamilton, to the newly created role of Managing Director for North American Business Development. Scott will lead institutional client coverage and consultant relations for Pemberton’s European private debt strategies in the US and Canada.

Imperial Capital, LLC (“Imperial Capital”), announced the continued expansion of its high yield & distressed credit sales team with the hiring of 3 sales professionals in the US: John Santonastaso, Colin Ives and Brent Herbst. These new sales professionals will report to Timothy Sullivan, President of Imperial Capital who has throughout 2020 steadily implemented the strategic expansion of Credit Sales & Trading with over 25 new hires globally. The hires will support a range of activities including par and distressed loan and bond trading along with alternative credit solutions in distressed and esoteric assets.

Service Logic, the largest independent provider of aftermarket maintenance, repair and replacement services for commercial HVAC equipment, today announced that it has been acquired by Leonard Green & Partners from Warburg Pincus. Harris Williams and Moelis served as financial advisors and Kirkland & Ellis LLP served as legal advisors to Service Logic. Latham & Watkins LLP served as legal advisors to Leonard Green & Partners. Committed debt financing for the transaction was provided by JPMorgan Chase Bank, N.A., Morgan Stanley, Antares Capital, and Crescent Capital.

Acreage Holdings, Inc. (“Acreage”) (CSE:ACRG.A.U, ACRG.B.U), (OTCQX: ACRHF, ACRDF) today announced it has received initial commitments and funding from a syndicate of lenders (the “Lenders”) for a first advance of $28 million pursuant to a Senior Secured Term Loan Facility (the “Facility”). The Facility has an annual interest rate of 15% with a maturity of 48 months from closing.

TAB Bank is pleased to announce it has entered into a multi-year agreement with Diff Eyewear to provide a $4 million revolving credit facility. The facility was used to refinance the company’s existing senior debt and provide for the company’s ongoing working capital needs as it continues to expand the reach of its growing brand.

The Dixie Group, Inc. (NASDAQ:DXYN) today announced the successful negotiation of a $75 million, five year, senior secured revolving credit facility with Fifth Third Bank National Association providing for borrowing based on percentages of values of the Company's accounts receivable and inventory, and secured by a first priority interest in the Company's accounts receivable and inventory. Maturing five years from the date of close, the Fifth Third facility will replace the Company's current secured credit facility with Wells Fargo Finance scheduled to mature in 2021. Availability under the new arrangement will be approximately $45 million as of October 30, 2020.

Despite continued high unemployment related to the coronavirus (COVID-19) pandemic, personal and business bankruptcy filings fell 21.1 percent for the 12-month period ending Sept. 30, 2020, according to statistics released by the Administrative Office of the U.S. Courts. Annual bankruptcy filings totaled 612,561, compared with 776,674 cases in the year ending Sept. 30, 2019.

AlixPartners, the global consulting firm, announced today that Elizabeth Stephenson, a seasoned C-suite executive with comprehensive experience leading global businesses and consumer brands through periods of transition, has joined as a Managing Director. She will be based in Los Angeles. Elizabeth brings more than 20 years of leadership and operations experience, including most recently five years at The Wonderful Company LLC (TWC), one of the fastest-growing consumer packaged goods companies in North America.

Wells Fargo & Co. said Monday that Kleber Santos will be the head of its new diverse segments, representation and inclusion group. Mr. Santos will join the company on Nov. 9, Wells Fargo said. He joins the company from Capital One, where he was most recently president of retail and direct banking, Well Fargo said.

Express Trade Capital, Inc., is pleased to announce a new multi-tranche facility for a New York-based client producing Moroccan condiments. This client has been with Express since June 2015. They began with a factoring facility and, as their sales rapidly grew, so did the need for more funding and services. Having already built a strong relationship over the years, when an opportunity arose to substantially expand their operations facility by 35%, we added an accordion feature to bolster their facilities.

Flatbay Capital LLC (“Flatbay”) (www.flatbay.com) announces the closing of a $2,800,000 commercial real estate loan for a national school apparel manufacturer and distributor. The deal was referred to by an asset-based lender and partner of Flatbay who focuses primarily on non-CRE collateral. The client’s working capital line of credit with a large national bank was up for renewal, and although their cash flow position was strong, the bank required a partial pay down to limit exposure.

CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that Hedgeweek, a major global publication covering hedge fund industry news for investors and fund managers, has recognized CohnReznick as the Best Audit Firm in its 2020 US Awards program. Award winners were notified last evening and invited to attend a virtual awards ceremony and networking event.

Old Time Pottery, a Tennessee-based home décor retailer with stores throughout the Southeast and Midwest, has entered into a Senior Secured Credit Agreement agented by Second Avenue Capital Partners (“SACP”) and CIT Northbridge. Proceeds from the credit facility will be used as exit financing, enabling Old Time Pottery’s emergence from a restructuring process and positioning the company for long-term success.

TESSCO Technologies Incorporated (NASDAQ: TESS), a leading value-added distributor and solutions provider for the wireless industry, today announced that it has entered into a new asset-based revolving credit facility (“ABL Facility”). The new facility provides TESSCO with up to $75 million in revolving credit, maturing in January 2024. This replaces the existing ABL facility, which was set to mature on October 19, 2021.

Tecnoglass, Inc. (NASDAQ: TGLS) (“Tecnoglass” or the “Company”), a leading manufacturer of architectural glass, windows, and associated aluminum products for the global commercial and residential construction industries, today announced it has entered into a new $300 million Senior Secured Credit Facility (“Credit Facility”), consisting of a $250 million delayed draw term loan and a $50 million committed revolving credit facility, with a maturity date in 2025. The Credit Facility has an accordion feature allowing the Company to increase the borrowing capacity to $325 million. BBVA USA acted as Administrative Agent, with Citizens Bank, N.A., ING Bank N.V., and Sabadell Bank acting as Joint Lead Arrangers for the Credit Facility.

Bank of America Business Capital is pleased to announce that Adam Moss has been named National Marketing Manager and will oversee a team of business development officers who provide asset-based solutions and banking products to large and middle market companies, intermediates and financial sponsors across the U.S. and Europe.

eCapital Corp. (“eCapital”), a leading alternative finance provider in North America, today announced that Tony Howard, formerly chief credit officer, has been named chief credit and portfolio officer of eCapital Corp. In his expanded role, Howard will oversee and manage credit risk and policy and portfolio performance across the company and participate in acquisition initiatives. The announcement underscores eCapital’s commitment to unifying and aligning its business operations.

Huntington Business Credit opened three new Asset Based Lending offices located in Los Angeles, CA, San Francisco, CA and Portland, OR, to originate and manage new banking relationships in the Western U.S market. Huntington Business Credit hired Tab French, Robert Alexander, Martin Valencia, David Lehner and John Kolb; industry veterans with significant banking and asset-based lending experience.

Ranger Scientific has been in research and development of its product since 2016 and will be ready to begin manufacturing and selling into the market by Spring of 2021. They plan to manufacture ammunition for various calibers of rifles that are over twice as accurate, at the same price. Given the unprecedented impact of the pandemic and historic levels of unemployment, Ranger Scientific will be creating jobs and generating meaningful economic development with a product for which demand is on the rise.