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  • Stifel Expands Capital Solutions Group In Europe
    September 28, 2020
    Stifel Financial Corp. (NYSE: SF) today announced it has materially enhanced the depth and quality of its London-based Capital Solutions Group through the addition of a team of bankers with experience across credit markets. This further develops the firm’s ability to offer full-service advisory and debt funding solutions to clients. Based in London, Jan-Erik Back, Duncan Sherriffs, and Alex Boyce have all joined Stifel, bringing with them the advisory business of Galiant Partners. Together, they have more than 50 years of combined experience as investors, advisors, and lenders.
  • Amid Pandemic, Small Business Owners Respond With Meaningful Transformation; Remain Resilient, PNC Survey Shows
    September 28, 2020
    - Substantial number of business owners make transformations to workforce, business processes, procedures and technology - While 97% of applicants call PPP essential to their business, more than half of all businesses say more government stimulus funding is needed - Despite dip since spring, optimism about the economy remains higher than during the Great Recession
  • BGL Establishes Debt Capital Markets Group, Expands Product Offerings
    September 28, 2020
    Brown Gibbons Lang & Company (BGL), a leading independent investment bank and financial advisory firm, has established a Debt Capital Markets Group with the addition of Jason Sutherland, Olivier Lopez, and Collin Supple. Sutherland and Lopez have joined as Managing Directors, and Supple has joined as a Vice President; all three bankers will be based in BGL's Chicago office.
  • Vista Outdoor Named Successful Bidder in Bankruptcy Auction To Acquire Remington Ammunition and Accessories Assets
    September 28, 2020
    Vista Outdoor Inc. (NYSE: VSTO), a global designer, manufacturer and marketer of products in the outdoor sports and recreation markets, today announced that it has been named a successful bidder in the auction process conducted in connection with Remington Outdoor Company, Inc.'s ("ROC's") Chapter 11 bankruptcy cases pending in the United States Bankruptcy Court for the Northern District of Alabama. As a result, Vista Outdoor will acquire certain assets related to ROC's ammunition and accessories businesses, including ROC's ammunition manufacturing facility in Lonoke, Arkansas and related intellectual property, including the Remington brand and trademarks.
  • Ares Management Names Former Credit Suisse Exec as Australian Head
    September 28, 2020
    Private equity firm Ares Management Corp. ARES.N on Monday named John Knox, the former head of Credit Suisse CSGN.S in Australia, as Chairman of its operations in the antipodean country and in New Zealand, the firm said in a statement.
  • Fast AR Funding Provides a $200k Selective Factoring Facility for Healthcare Staffing Company
    September 28, 2020
    When a UK-headquartered temporary healthcare staffing provider decided to open operations in the US, they tasked Fast AR Funding to keep up with demand. Shortly after setting up in the US, the domestic growth quickly outpaced expectations and the company found themselves with a cashflow gap to keep up with their growing payroll. The UK parent turned to Fast AR Funding to enable its US operations to become self-sufficient as they planned to expand in other countries as well. Fast AR Funding provided a $200,000 spot factoring solution with a high advance rate to support their growing payroll needs in 2020 and beyond.
  • Enservco Closes Agreement with Lender to Amend its Senior Revolving Credit Facility, Substantially Reduce Debt and Strengthen its Balance Sheet
    September 28, 2020
    Enservco Corporation (NYSE American: ENSV), a diversified national provider of specialized well-site services to the domestic onshore conventional and unconventional oil and gas industries, today announced it has closed its refinancing agreement with East West Bank (“EWB”). The refinancing significantly strengthens Enservco’s balance sheet by cutting its bank debt nearly in half and increasing shareholders’ equity by approximately $17.5 million.
  • Medalist Partners Provides $40 Million Credit Facility to Ironwood Funding
    September 28, 2020
    Ironwood Funding, a leading operator in underwriting and financing the purchase of non-performing consumer loans, today announced it has secured an additional $40 million credit facility from funds and co-investment vehicles managed by Medalist Partners, a private credit and special opportunities investment manager based in New York.
  • Neiman Marcus Group Completes Chapter 11 Process; Emerges with Strengthened Capital Structure
    September 28, 2020
    Neiman Marcus Holding Company, Inc. (formerly the "Neiman Marcus Group LTD LLC") (the "Company") today announced it has emerged from voluntary Chapter 11 protection, successfully completing its restructuring process and implementing the Plan of Reorganization ("Plan") that was confirmed by the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division on September 4, 2020. The Company emerges with the full support of its creditors and new equity shareholders, now operating with a strengthened capital structure that eliminated more than $4 billion of existing debt and more than $200 million of cash interest expense annually, with no near-term maturities.
  • Dye & Durham Limited Announces New Credit Facility
    September 28, 2020
    Dye & Durham Limited ("Dye & Durham" or the "Company") (TSX: DND), a leading provider of cloud-based software and technology solutions designed to improve efficiency and increase productivity for legal and business professionals, announced today that it entered into a new credit agreement (the "Credit Agreement") that provides for a C$140.0 million revolving term loan facility with an additional uncommitted accordion of up to C$25.0 million, for an aggregate total availability of up to C$165.0 million.
  • Steve N. Economou Joins G-Squared Partners to Launch Investment Banking Practice
    September 28, 2020
    G-Squared Partners, LLC announced today that Steve Economou has joined the firm as a Managing Director, M&A to establish an investment banking practice. The new practice – a natural extension of G-Squared’s outsourced CFO, finance, and accounting work – is dedicated to offering skilled investment banking services to middle market companies that are often underserved by national investment banking practices. The effort will focus on M&A advisory services, capital raising, recapitalizations, and evaluating strategic alternatives for these businesses.
  • US Corporate Pandemic Recovery Assumptions Mostly Steady Post 2Q20
    September 28, 2020
    Widespread upward revisions of US corporate sector-level post-lockdown recovery assumptions that would lead to mass rating actions post-2Q20 results are unlikely, given the cautious outlook on the pace of economic activity and sector fundamentals, says Fitch Ratings. Second-quarter results were indicative of the pandemic’s negative financial effect on issuers but surprised on the upside for some sectors, including Homebuilding, Building Materials, Auto & Related and pockets of Retailing. Results for most sectors, however, were relatively in line with Fitch’s expectations.
  • Paladin Strengthens Leadership Team With Top Restructuring And Corporate Finance Experts Lance Miller And Peter Richter
    September 28, 2020
    Paladin, a leading middle-market advisory firm driving value-creation through financial and operational consulting services, announced today that industry leaders, Lance Miller and Peter Richter, have joined the firm as Partners. Combining decades of experience, both Lance and Peter have guided numerous organizations through operational and financial restructurings that have resulted in improved profitability and increased stakeholder value.
  • QuadPay Secures Revolving Line of Credit of Up to $200 Million from Goldman Sachs, Oaktree Capital
    September 28, 2020
    QuadPay, which will use the facility to expand its buy now, pay later business to new merchants across the US, secured the line of credit through the Finitive private credit platform
  • Citizens Capital Markets, Inc. Advises Liberty Steel, Inc. on its divestiture of Welded Tubes, Inc. to Lock Joint Tube LLC, a subsidiary of Steel Warehouse Company, LLC
    September 28, 2020
    Citizens Capital Markets, Inc. announced today that it served as financial advisor to Liberty Steel Products, Inc. in its divestiture of Welded Tubes, Inc. (“WTI”) to Lock Joint Tube LLC, a subsidiary of Steel Warehouse Company, LLC. WTI’s President, Joe Frandanisa, the management team and the workforce will remain in place at WTI’s factory in Orwell, Ohio.
  • Lowenstein Sandler Boosts New York Bankruptcy Offering
    September 24, 2020
    The New York bankruptcy, financial reorganisation and creditors’ rights division at Lowenstein Sandler has welcomed new senior legal counsel Brent Weisenberg. Brent Weisenberg brings in-house legal experience gained during three years in his most recent position as general counsel at Platinum Credit Management.
  • Veteran Vinson & Elkins Restructuring Partner Relocates to Houston
    September 24, 2020
    Vinson & Elkins LLP announced today that Paul E. Heath, an accomplished partner in the firm's Restructuring and Reorganization practice group, has relocated from Dallas to Houston.
  • Women's Retailer J. Jill Has 10 Days to Avoid Bankruptcy Filing
    September 24, 2020
    J. Jill Inc. has just 10 days to get permission from the vast majority of its lenders for a deal that would extend the struggling retailer’s debt maturities, excuse it from financial covenants and give it fresh cash. The company said in a statement Tuesday that it plans to file for bankruptcy if it fails to get lenders holding 95 per cent of its term loans on board with the plan by Sept. 11. It’s struck a deal with lenders holding 70 per cent of the debt to extend certain debt maturities to 2024, grant a financial covenant holiday and provide for at least US$15 million of new cash in the form of a junior term loan.
  • Rockland Trust Supports Brighton Marine's Veteran Affordable Housing Facility
    September 24, 2020
    Brighton Marine, a Veteran network community in Brighton, announced the official opening of a facility. The City of Boston is committed to connecting Boston's military families with the resources and assistance they are entitled to. In 2015, Mayor Walsh released "An Action Plan to End Veteran and Chronic Homelessness In Boston: 2015 - 2018", which outlines the City's strategies to transform Boston's homeless response system in order to end veterans homelessness by 2015 and chronic homelessness by 2018. Since the start of the plan the City has housed more than 1,291 veterans experiencing homelessness.
  • Winston & Strawn Strengthens Bankruptcy and Restructuring Capabilities with Addition of James T. Bentley
    September 24, 2020
    Winston & Strawn LLP is pleased to announce the addition of James T. Bentley, an experienced and respected bankruptcy and restructuring attorney, as a partner in the firm’s New York office. James has considerable experience in corporate restructurings, representing numerous constituencies in bankruptcy and out-of-court workouts. He has represented hedge funds, private equity funds, alternative asset managers, trustees, and other stakeholders in every aspect of the restructuring process. James has experience across a broad range of industry sectors, including retail, automotive, energy, healthcare, restaurants, radio and television, real estate, and securities.