- Associated Banc-Corp Completes Acquisition of American National Corporation, Accelerating Growth Momentum in Attractive Markets
- Sallyport Commercial Finance Provides $2MM Factoring Facility to a Canadian Printing Company
- Southstar Capital Provides $2MM A/R Facility to Support Growth of Private Equity-Backed Analytics Firm
- Quickpay Funding Provides $200,000 Factoring Facility to Fresh Produce Wholesaler Ahead of Peak Season
- KKR Closes $23 Billion North America Private Equity Fund
TSL Express Daily Articles & News
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Ares Management Special Opportunities Team to Join its Global Credit Group
Ares Management Corporation (NYSE: ARES) today announced that its Special Opportunities strategy, currently a business within its Private Equity Group, will be joining the firm’s Credit Group and will be named Opportunistic Credit. Moving the strategy to the Credit Group is expected to enable greater collaboration across the Ares platform, enhancing benefits to Ares’ limited partners, sponsor partners and portfolio companies.
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Barry Bobrow is a managing director and head of credit markets for Regions Business Capital. He is a widely respected leader in middle-market leveraged finance and asset-based lending. He has spent the past 38 years working in banking, most of it as a debt capital markets professional, primarily in leveraged lending and supply chain finance. Bobrow is the creator and chairman of the Asset Based Capital Conference (ABCC), an SFNet sponsored conference focusing on the middle-market leveraged and asset-based markets, now in its 16th year. Here, Bobrow discusses his career trajectory, his outlook for the industry and his goals for SFNet in 2024.
TSL Express Daily Headlines & News
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Vertiv Announces Successful Completion of Term Loan Repricing
December 16, 2024Vertiv (NYSE: VRT), a global provider of critical digital infrastructure and continuity solutions, today announced the completion of the repricing of Vertiv Group Corporation’s, a subsidiary of Vertiv Holdings Co, existing seven-year $2.1 billion Term Loan.
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Talen Energy Corporation Announces Closing of Incremental Term Loan B Financing and Related Repurchase of Common Stock
December 16, 2024Talen Energy Corporation (“Talen” or the “Company”) (NASDAQ: TLN) announced today that the Company has closed on its previously announced $850 million incremental Term Loan B credit facility (the “Financing”) and the repurchase (the “Repurchase”) of an equivalent value of shares of Talen’s outstanding Talen common stock, par value $0.001 per share (“Common Stock”) from affiliates of Rubric Capital Management LP (collectively, “Rubric”).
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Associated Bank Announces Steven Zandpour to Join Executive Leadership Team
December 16, 2024Associated Banc-Corp (NYSE: ASB) ("Associated") announced today the appointment of Steven Zandpour to its Executive Leadership Team (ELT), effective January 1, 2025. Zandpour, 48 will be executive vice president, deputy head of Consumer and Business Banking, Associated Bank, reporting directly to David Stein, executive vice president, head of Consumer and Business Banking and Madison Market president.
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Illingworth joins CohnReznick’s Digital Advisory Practice as Managing Director
December 16, 2024CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that Drew Illingworth has joined the firm as Managing Director in its Digital Advisory practice where he will lead the Strategy & Operations team.
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Amerisource Business Capital Appoints Collin Mackie as Regional Market Manager for Southeast
December 16, 2024Amerisource Business Capital, a leading provider of asset-based lending and other capital products, is pleased to announce the appointment of Collin Mackie as Regional Market Manager in the Southeast. Collin has over 16 years of experience in commercial finance
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Wilson Sonsini Advises Dropbox on $2 Billion Secured Credit Facility
December 16, 2024On December 11, 2024, Dropbox announced that it entered into a Credit and Guaranty Agreement for a secured term loan facility in an aggregate principal amount of up to $2 billion, consisting of initial term loans in an aggregate principal amount of up to $1.0 billion and delayed draw term loans in an aggregate principal amount of up to $1.0 billion.
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Scale Microgrids Secures $150 Million in Tax Equity Financing from Truist Bank
December 16, 2024Scale Microgrids (“Scale”) has closed a major tax equity transaction with Truist Bank to support the construction of new distributed energy assets across the U.S. Under this partnership, Truist will provide a tax equity investment of up to $150 million.
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Ares Commercial Finance Provides a $55 Million Credit Facility to Liquid Death
December 16, 2024Ares Commercial Finance announced today that it and other Ares Management credit funds have provided a $55 million senior secured revolving line of credit to Liquid Death (formally known as Supplying Demand, Inc) (“Liquid Death” or the “Company”). The Company, based in Los Angeles, California, is a premium beverage brand that sells better-for-you non-alcoholic beverages in infinitely recyclable cans.
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BriteCap Financial Announces New CFO
December 16, 2024BriteCap Financial LLC ("BriteCap"), a leading non-bank lender providing small businesses with fast, convenient, and affordable working capital, announced today the appointment of Pushkar Choudhuri as Chief Financial Officer. Pushkar has more than twenty years of experience in financial planning, corporate finance & investment banking.
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Abacus Finance Group Celebrates a Significant Milestone with the Receipt of its First SBIC License
December 16, 2024Abacus Finance Group, a leading provider of cash flow-based senior debt and a trusted name in lower middle-market private equity, is proud to announce the receipt of its Small Business Investment Company (SBIC) license and the successful first closing of its inaugural SBIC fund.
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Lendscape Appoints Gareth Evans as Chief Revenue Officer to Accelerate Growth and Innovation
December 16, 2024Lendscape, a global leader in secured finance technology, has appointed Gareth Evans as its new Chief Revenue Officer (CRO). With more than 25 years of experience driving growth across global markets, Gareth will join Lendscape's Executive team and lead efforts to scale revenue-generating initiatives, expand the company’s ecosystem, build strategic partnerships, and enhance Lendscape's market approach to deliver greater value to clients.
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Hedaya Capital Provides $600,000 in Financing to Innovative Startup
December 16, 2024The Hedaya Capital Group recently provided a $500,000 Factoring Facility and a $100,000 Purchase Order Finance Facility to a Philadelphia-based healthcare company focused on nutrition as a solution to chronic disease.
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MONTICELLOAM, LLC Closes $87.15M in Bridge Financing for Fresno Seniors Housing Communities
December 16, 2024MONTICELLOAM, LLC (“MonticelloAM”), a specialized multifamily and seniors housing bridge lending platform, a specialized multifamily and seniors housing bridge lending platform, successfully closed an $87,150,000 bridge loan for 39 residential assisted living communities in Fresno, California.
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Austin Financial Services, Inc. (AFS) Closes $3MM ABL to Food Production and Distribution Company
December 16, 2024Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $3MM asset-based lending (ABL) credit facility comprised of an accounts receivable and inventory revolver to a 3rd generation food production and distribution company that serves some of the country’s leading hospitality brands.
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HYPERAMS and Rabin Worldwide Announce Auction of State-of-the-Art Food Processing Equipment
December 16, 2024HYPERAMS, LLC, in partnership with Rabin Worldwide, has been commissioned to conduct an exclusive online-only auction for an extraordinary collection of late-model food processing and packaging equipment from a former cheese snack production facility. The auction, featuring worldwide bidding via BidSpotter, will close on January 8, 2025.
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Deerpath Capital Successfully Resets 2022 CLO, Representing the Largest Collateralized Loan Obligation in Firm's history
December 16, 2024Deerpath Capital Management, LP ("Deerpath"), one of the largest lower-middle market private credit managers in the U.S., recently announced a reset and upsize of Deerpath CLO 2022-1, a $724.7 million collateralized loan obligation (CLO). This marks the largest CLO and largest upsize in the firm's history.
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WSFS Strengthens Commercial and Risk Leadership Teams to Support Next Phase of Growth
December 16, 2024WSFS Financial Corporation (Nasdaq: WSFS), the parent company of WSFS Bank, announced today several promotions within the Commercial Banking and Risk leadership teams, effective January 1, 2025, as the Company prepares for its next phase of growth.
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Private Equity Investment in US Solar Declines as Global Inflows Rebound
December 16, 2024Private equity and venture capital activity in the US solar industry is poised to hit a four-year low in 2024, while private inflows into the sector globally have rebounded.
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Legion Technologies Secures $50M from Silicon Valley Bank to Fuel Continued Innovation in AI-Powered Workforce Management
December 16, 2024Legion Technologies, an innovator in workforce management (WFM), today announced it has received $50 million in financing from Silicon Valley Bank (SVB), a division of First Citizens Bank. The raise, which brings Legion’s total funding to $195 million, follows a $50 million growth round led by Riverwood Capital earlier this year.
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TCW Accelerates Growth in Alternative Credit Through Expanded Strategic Partnership with Nippon Life
December 16, 2024The TCW Group, Inc., a leading global asset manager, and Nippon Life Insurance Company, one of the world’s largest life insurance companies, today announced that Nippon Life intends to commit up to $3.25 billion in additional anchor capital to TCW alternative credit strategies and increase its minority ownership stake in TCW in the future.
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