- North Mill Capital Announces the Funding of a $15,000,000 Total Credit Facility
- Prestige Capital
- CIBC Innovation Banking Provides Taplytics Inc. with Growth Capital Financing
- Republic Provides a $1.5 Million Facility to a Midwestern Transportation Company
- Stenn Closes Six Figure Receivables Finance Program for Photography Accessories Importer in USA
TSL Express Trending Story
Retail has taken a huge hit from COVID-19. What sectors are expected to survive, even thrive? What areas are likely to be hardest hit as the pandemic continues?
Much has been written about the significant impact of the COVID-19 pandemic on the retail sector, as policymakers encourage consumers to wear masks and remain vigilant when leaving home, e-commerce sales have soared, and supply chain concerns persist. Retailers have been challenged to maintain operations and attract current “homebody” consumers, more than 68 percent of whom planned to continue their at home habits after restrictions were lifted, according to a study by management consulting firm McKinsey & Company.1
TSL Express Daily Headlines & News
Angelo Gordon's Twin Brook Capital Partners Commits Over $925 Million to Private Equity-Backed Healthcare Transactions in 2020
January 14, 2021Twin Brook Capital Partners (“Twin Brook” or the “Firm”), the middle market direct lending subsidiary of Angelo Gordon, today announced that it committed over $925 million to private equity sponsors in support of healthcare transactions last year, completing 26 healthcare transactions across 10 subsectors. The Firm served as lead agent on all the healthcare transactions it supported in 2020, which included 11 new platform financings and 15 add-on financings.
Blackford Capital Announces Investment in Aqua-Leisure Industries
January 14, 2021Blackford Capital, a private equity firm based in Grand Rapids, Michigan, today announced an investment in Aqua-Leisure Industries, a leader and pioneer in water sport leisure product development and aquatic goods. Headquartered just outside of Boston, Aqua-Leisure was founded in 1970 and primarily serves the aquatic consumer products industry. The company is one of the largest and most innovative designers and distributors of multiple lines of high quality, performance-based products under a variety of brand names and proprietary designs, including swim goggles, "Learn to Swim" products for children, and pool floats, among other categories.
Oxford Finance Leads $107 Million Upsize Financing for Specialty Dental Brands
January 14, 2021Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to healthcare services and life sciences companies worldwide, today announced the closing of a $107 million senior credit facility to Specialty Dental Brands (“SDB” or “the Company”) a dental services organization focused on pediatric dentistry, orthodontics, and oral surgery.
Greystone Adds Michael Zampetti to Commercial Finance Team
January 14, 2021Greystone, a leading national commercial real estate finance company, announced that Michael Zampetti, Jr., Managing Director, has joined the Commercial finance team led by Scott Chisholm, based in New York. In this role, Mr. Zampetti will focus on loan production across an array of platforms while working to expand the firm’s lending activities to a broader scope of commercial asset classes.
Going-Out-of-Business Sales Begin at All 25 Stock+Field Stores in Midwest
January 14, 2021Going-out-of-business sales are underway at all 25 Stock+Field stores across the Midwest—an opportunity for enthusiasts of the rural lifestyle to find bargains on thousands of premier items in categories such as farm supplies, outdoor power equipment, lawn and garden, hardware/tools, home, sporting goods, and apparel/footwear. A joint venture of Tiger Capital Group and B. Riley Retail Solutions (a B. Riley Financial company) is conducting the liquidation sales in Illinois, Indiana, Ohio, Michigan and Wisconsin on behalf of Tea Olive I, LLC (d/b/a Stock+Field). Founded in 1964 as BigR stores, Stock+Field filed for Chapter 11 bankruptcy protection on January 10, 2021 in the U.S. Bankruptcy Court for the District of Minnesota.
Store Closing Sales Begin at All Christopher & Banks Stores Nationwide
January 14, 2021Christopher & Banks, on January 13, 2021, filed for Chapter 11 reorganization and authorized store closing sales to be conducted by Hilco Merchant Resources. The store closing process has begun at more than 400 stores nationally. Since 1956, Christopher & Banks has been providing customers with style, value and service that help her look fabulous and feel amazing, every day and for life’s special moments and still focuses on putting “her” first.
LQD Business Finance Promotes Jack Zeng to Chief Technology Officer
January 14, 2021LQD Business Finance, a Chicago-based commercial lender, announced the promotion of Jack Zeng to Chief Technology Officer. In his new capacity, Zeng will be leading all efforts behind the company’s automation and technology solutions to continue expanding the capacity of its proprietary lending systems. As LQD Business Finance continues to compete in the private debt market, Zeng’s leadership will be instrumental in broadening the company’s portfolio, with a focus on further streamlining and innovating methods of business development and operations.
Harney Partners Promotes Erik White to Managing Director
January 14, 2021Harney Partners, a national, corporate turnaround and restructuring advisory firm, is pleased to announce the promotion of Erik White to Managing Director. In this expanded leadership role, White will continue to focus on providing financial and operational advisory services to companies in transition and distressed situations, while driving firm growth strategies and client delivery enhancement.
CIT Leads $69 Million Financing for Solar Portfolio
January 14, 2021CIT Group Inc. (NYSE: CIT) today announced that its Power and Energy business led a $69 million financing for a portfolio of solar facilities owned and operated by Strata Solar LLC, a leading integrated solar and storage energy service provider based in North Carolina. The 23 operating solar assets in the portfolio, a majority of which are located in North Carolina, have a combined capacity of more than 130 megawatts. Output from the solar assets is covered by purchase agreements that ensure a steady demand for the renewable power they generate.
Siena Healthcare Finance Hires Western Region Business Development Officer
January 13, 2021Siena Healthcare Finance is pleased to announce the addition of Nicholas “Niko” Tsitsos to our team. In the capacity of Director of Business Development, Niko will be covering the Western Region of the U.S. and is located in San Francisco, California. Prior to joining the team, Niko served as Vice President Healthcare Finance Loan Originations at Wells Fargo. Niko has also held positions at Wellington Management Company and John Hancock Financial Services prior to Wells Fargo.
Briar Capital Real Estate Fund Announces a New $6MM Real Estate Loan to a Metal Fabrication and Machine Shop
January 13, 2021Briar Capital Real Estate Fund ("BCREF") (www.BriarCapital.com) is pleased to announce a new $6MM real estate loan to a metal fabrication and machine shop in Texas. The loan facility consists of a $5MM Term Loan and a $1MM Revolving Line of Credit, both secured by the company's real estate. Using only the real estate as collateral, the BCREF facility freed up the company's remaining assets, allowing them to be leveraged by another lender.
First Business Entities Align as First Business Bank
January 13, 2021First Business Financial Services, Inc. (Nasdaq: FBIZ), parent company of First Business Bank, today announces that all First Business entities align as First Business Bank. This alignment is accompanied by a refreshed logo and a new .BANK website and email addresses. Only verified members of the global banking community can register .BANK website and email domain names, which enhances security for clients.
Reopening the Middle Market: Part Two of an RSM Special Report
January 13, 2021As the pandemic passed the sixth-month mark in the United States, middle market companies were adapting to continued economic disruption by leveraging technology in new ways for both employees and customers and implementing or considering permanent remote work in some cases, proprietary research from RSM US LLP found.
Sterling National Bank Provides $2,000,000 Secured Credit Facilities
January 13, 2021Sterling National Bank's Commercial Services Group provided senior secured credit facilities totaling $2,000,000 to Super Retro, LLC. The credit facilities will be used to provide working capital for the company’s anticipated future growth. Established in 2019 in the State of Delaware, Super Retro is an importer of men’s casual apparel and loungewear.
TAB Bank Provides Distribution Company in New York with a $15 Million Revolving Credit Facility
January 13, 2021TAB Bank is pleased to announce it has provided a $15 million revolving credit facility for a distribution company headquartered in New York. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs. The company is an importer and wholesale distributor of kitchen products. Their product lines include kitchen gadgets, tools, dinnerware, flatware, bakeware, and other related items.
Monticello Arranges $467M Financing Package for Skilled Nursing Portfolio Acquisition in Southeast
January 13, 2021The financing package from Monticello included $368 million in first-lien debt and $99 million in mezzanine debt. Combined with other financing, the total loan amount for the acquisition was $507 million.
Shipley Do-Nuts Receives Loan as Part of Peak Rock Buyout
January 13, 2021Shipley Do-Nuts received a senior credit facility backing an acquisition of the company by an affiliate of Peak Rock Capital. NXT Capital is sole lead arranger and administrative agent, market sources said today.
Monroe Capital Supports Altamont Capital Partners’ Acquisition of Specialized Packaging Group
January 13, 2021Monroe Capital LLC (“Monroe”) today announced it acted as administrative agent and joint lead arranger on the funding of a senior credit facility to support the acquisition of Specialized Packaging Group (“SPG”) by private equity sponsor Altamont Capital Partners.
FTI Consulting Enhances Senior Lender Offering in Houston with the Appointment of Dave Katz as Senior Managing Director
January 12, 2021FTI Consulting, Inc. (NYSE: FCN) today announced the appointment of Dave Katz as a Senior Managing Director in the firm’s Corporate Finance & Restructuring segment, further enhancing the firm’s Senior Lender Advisory practice. Mr. Katz, who will be based in Houston, brings over 20 years of experience having negotiated, structured and managed numerous ground-breaking, complex restructurings, transactions and amendments. His appointment comes as lenders realign their focus on energy and renewables and companies reassess how to best position themselves in ever more challenging markets.
Fifth Third Business Capital Arranges Working Capital Line of Credit for Polder Products, LLC to Support Acquisition Growth
January 12, 2021Fifth Third Business Capital announced it arranged a $10 million working capital line of credit for Polder Products, LLC, a leading designer and distributor of a variety of houseware products based in Oxford, CT.
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The Secured Lender
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