- Tim Kubiak Named Head of Wells Fargo Rail
- Interview with Rich Gumbrecht, CEO of Secured Finance Network, formerly Commercial Finance Association
- Reech Corporations Group Launches Merchant Banking and Capital Markets Division
- Sallyport Commercial Finance Supports Growing Technology Company
- Cosi, Inc. Files for Chapter 11 Bankruptcy Reorganization to Complete its Transformation to a Profit Maximizing Mix of In-store Dining and Catering Which Will Better Align it with Customer Dining Trends
TSL Express Trending Story
A new year brings with it many unknowns, and this year is no exception. It remains to be seen how the pandemic will impact the industry in the year ahead, and companies are still evolving strategies and plans to address the increased uncertainty.
Norman Knight, Deputy Director of Flight Operations at NASA, is no stranger to the unknown. He specializes in human space flight, and he has seen everything in orbit. He spoke at SFNet's first-ever online Annual Convention in November 2020 to share what he has learned from his decades at NASA.
Knight shared advice about building a culture of technical truth, openly discussing mistakes to improve systems, and planning for the unimaginable. Here are a few flight rules he suggested for companies looking to manage risk and uncertainty in the year ahead.
TSL Express Daily Headlines & News
TradeCap Partners Provides $650,000 Purchase Order Facility to Hair and Beauty Products Company
January 25, 2021TradeCap Partners closed a $650,000 purchase order finance facility to an early stage Florida based hair and beauty products company. The facility will support fulfillment of large retail orders for multiple SKUs. The Company, with just over a year in business, was gaining traction growing brand exposure and sales. An existing big box customer was increasing orders as they expanded the SKU and store count for the Company’s products.
Rosenberg & Fecci Consulting, LLC Announces That Stephen Culloo has Been Admitted to the LLC as a Partner
January 25, 2021Rosenberg & Fecci Consulting, LLC is pleased to announce that Stephen Culloo has been admitted to the LLC as a partner. Mr. Culloo joined Rosenberg & Fecci in 2009 as a college graduate, and in his time at R&F has risen from an Analyst to Director of Monthly Recurring Revenue field exams. Working closely with lenders in the Tech space, Mr. Culloo is responsible for developing the specialized scope and procedures, currently utilized for all field examinations with a focus on recurring revenue.
Citizens Advises Health iPASS, INC. on its Sale to Sphere, Backed by Waud Capital
January 25, 2021Citizens M&A Advisory served as the exclusive financial advisor to Health iPASS, Inc., a high-growth, innovative provider of cloud-based patient engagement software and revenue cycle management technology, in its sale to Sphere, backed by Waud Capital. Health iPASS specializes in solutions that enhance provider revenue collections and deliver a streamlined healthcare consumer experience from appointment to final payment. The software helps providers accelerate cash flow, reduce the cost to collect, lower claim denials and improve patient relations. The technology improves the healthcare consumer experience by simplifying the check-in process and payment experience by facilitating pre-service, time-of-service and post-service engagement and patient payments through an innovative, multi-channel virtual software interface.
Byrna Technologies Enters into New Credit Facility
January 25, 2021Byrna Technologies Inc. (OTCQB: BYRN) (CSE: BYRN) ("Byrna" or the "Company") today announced the closing of a new asset based ("ABL") revolving credit facility with Needham Bank. The new ABL provides Byrna with up to $5.0 million available for general corporate purposes and working capital. In addition to the $5.0 million revolving line of credit, the Company also entered into an agreement for a $1.5 million equipment line.
Golub Capital Announces Senior-Level Promotions
January 25, 2021Golub Capital is pleased to announce a number of senior-level promotions in Direct Lending, Structured Products and the Investor Partners Group. Andy Steuerman has been promoted to the new role of Vice Chair of Direct Lending. Mr. Steuerman will continue as a senior member of the Investment Committee, oversee our Special Situations Team, manage our Late Stage Lending business and spearhead new strategic initiatives. He has been with Golub Capital for over 17 years.
Marco Financial Provides a $9,000,000 Trade Finance Facility for Spectralink Corporation
January 25, 2021Marco Financial established an expanded international trade finance facility for Spectralink Corporation, an affiliated portfolio company of Sun Capital Partners, Inc. The company, a Boulder Colorado based global provider of on-site enterprise mobile communication solutions, required additional funding in part to finance production of a new significant contract with a major US based customer. With customers in Europe, as well, Marco was well suited to replace and enhance Spectralink’ s existing factoring facility.
North Mill Equipment Finance LLC Announces 10 Employee Promotions
January 25, 2021North Mill Equipment Finance LLC (“North Mill”), a leading independent commercial equipment lessor located in Norwalk, Connecticut, announced today the promotion of ten employees representing several departments across the organization. They include: James Cavallaro, vice president, Contract Administration; Ellen Miller, vice president, Legal; Jeff Schick, vice president, Operational Controller; Michael Deck, assistant vice president, Credit; Ben Tishelman, assistant vice president, Operations; Griffin Dulligan, manager, Credit; Pierina Silvestre, manager, Insurance & Asset Management; Douglas Jackson, manager, Contract Administration; Sabrina Walker, manager, Contract Administration and Evan Worley, manager, Credit.
Huntington Business Credit Closes Facility with Kent Water Sports
January 25, 2021Huntington Business Credit announced it closed a new $50,000,000 credit facility with Kent Water Sports on December 31, 2020. Proceeds of the facility were used to support the acquisition of Kent Water Sports by Seawall Capital, a middle-market private equity firm (www.seawallcap.com) and to provide ongoing working capital growth financing.
Monroe Capital Supports Growth Catalyst Partners’ Acquisition of The Equine Network
January 25, 2021Monroe Capital LLC (“Monroe”) today announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the acquisition of The Equine Network by private equity sponsor Growth Catalyst Partners. Based in Albuquerque, NM, The Equine Network is the leading provider of proprietary sports content, information, and tech-enabled services in the U.S. equine industry.
Tree Line Capital Partners Expands Private Credit Platform in 2020 Adding an SBIC Fund, Issuing $430M in New Loan Commitments and Establishing an Office in Austin, Texas
January 25, 2021Tree Line Capital Partners, LLC (Tree Line) is pleased to announce the expansion of its lower middle-market direct lending platform adding a Small Business Investment Company (SBIC), an Austin, TX office and three new team members. 2020 presented significant volatility and market challenges to nearly all asset classes yet Tree Line was able to achieve significant growth through a continued focus on building a cycle-durable senior secured loan portfolio. In 2020, Tree Line issued loan commitments of $430 million, with nearly $325 million coming in the second half of the year, delivering flexible and reliable financing solutions to lower middle-market sponsors and borrowers.
HCAP Partners Announces New Investment in 83bar
January 25, 2021HCAP Partners, a California-based private equity firm and nationally recognized impact investor, announced today its investment in 83bar, an Austin, TX-based leader in patient journey management for both clinical trials and commercial clients across pharma, medical device, and diagnostic industries. The mezzanine debt infusion will be used to restructure existing debt, provide share redemption for a small group of existing investors, and provide supplemental growth capital. Terms of the investment were not disclosed.
Corlex Capital Closes Debt Refinancing for Largest Anytime Fitness Franchisee
January 25, 2021Corlex Capital ("Corlex"), a minority-owned private equity and consulting firm, announced the closing of a senior secured credit facility to refinance and provide growth capital for Bandon Holdings ("Bandon"), the largest franchisee of Anytime Fitness. Corlex served as the exclusive debt advisor to Bandon for the financing.
Staffing Company in Arizona Chooses TAB Bank for a $10 Million Revolving Credit Facility
January 22, 2021A staffing company in Arizona has chosen TAB Bank for a $10 million revolving credit facility. The new facility is extended through a multi-year agreement and will provide the means to fund growth for the company. The company provides staffing services for many industries including distribution, manufacturing, construction, and oil production.
eCapital Corp. Elevates Jaime Gillespie to Chief Human Resources Officer
January 22, 2021eCapital Corp. (“eCapital”), a leading alternative finance provider in North America, today announced that it has promoted Jaime Gillespie to chief human resources officer. In her new role, Gillespie will oversee employee engagement, talent management and leadership development, as well as alignment of the company’s diverse workforce and establishment of a unified corporate culture.
Focus Financial Partners Increases Term Loan Facility Size in Heavily Oversubscribed Transaction, Increasing Financial Flexibility
January 21, 2021Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it increased the offering under its First Lien Term Loan ("Term Loan") by $125 million, from the $375 million announced earlier this week, to $500 million. Upon completion, Focus' Term Loan balance will be approximately $1.63 billion, compared to approximately $1.13 billion as of December 31, 2020.
First Eagle Alternative Credit COO & CFO Terry Olson to Retire
January 21, 2021First Eagle Alternative Credit, LLC today announced that Terry Olson, chief operating officer and chief financial officer, has elected to retire effective June 30, 2021. The Company will implement a plan that includes a search to identify a replacement CFO and transition of Olson’s operating responsibilities.
Clear Thinking Group Awarded Restructuring Advisory Firm of the Year by Finance Monthly
January 21, 2021Clear Thinking Group announced today that it has been named “Restructuring Advisory Firm of the Year - USA” as part of Finance Monthly’s 2020 Global Awards. The Global Awards highlight the outstanding work done by financial advisors and organizations at an international level. It celebrates those who have excelled in their work, have exceeded client expectations, and have demonstrated measurable achievements over the last 12-18 months – even in the current challenging environment.
Cabretta Capital Announces Jesse Speltz as Director of Tax Credit Investments
January 21, 2021Cabretta Capital, a leading specialty finance firm with extensive experience in structured tax equity and tax-advantaged investment strategies, is pleased to announce Jesse Speltz has joined the firm to serve as director of tax credit investments. In this role, Speltz will focus on expanding Cabretta’s national footprint with outreach to banks, private equity groups, family offices, specialty finance companies, CPA’s, wealth advisors, strategic businesses, and high net worth individuals to lower their federal and/or state tax liabilities.
White Oak Healthcare MOB REIT Announces Acquisition of Class-A Medical Office Building in Henderson, Nevada
January 21, 2021White Oak Healthcare MOB REIT today announced it has acquired a Class-A Medical Office Building in Henderson, Nevada. The property was built in 2008 and is less than a mile from Dignity Health – St. Rose Dominican Hospital, in Henderson, Nevada, a well-regarded, fast-growing suburb of Las Vegas. The attractive property has excellent visibility and access within a retail / medical corridor.
Amerisource Closes $4,000,000 Senior Credit Facility for Steel Fabricator
January 21, 2021Amerisource Business Capital announced the closing and funding of a $4,000,000 credit facility for a steel fabricator based in Texas. The proceeds are being used to support the Company’s growth and development plans.
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