- Gibraltar Business Capital Structures $35MM Funding for Acquisition of American Furniture Manufacturing by SouthWorth Capital Management
- Rosenthal Capital Group Closes Five ABL Transactions Across Multiple Industries Totaling $18 Million
- Tiger Finance Provides New $25 Million Term Loan to U.S. Medical Supplies Distributor
- Rosenthal Capital Group Closes Five ABL Transactions Across Multiple Industries Totaling $18 Million
- Montepino Logística Secures €460.0 Million Green Syndicated Financing for Logistics Real Estate Portfolio
TSL Express Daily Articles & News
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Today's Top Story
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Prominent Banking Partner Rejoins Latham & Watkins In New York
Latham & Watkins LLP is pleased to announce that Jennifer Ezring has rejoined the firm's New York office as a partner in the Banking Practice. Ezring has significant experience advising commercial and investment banks on leveraged finance and asset-based lending transactions.
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SFNet Wins Safe Harbor Fight in California
Last Tuesday, the California Assembly Judiciary Committee voted in favor of a measure that will amend the CA SB 1235 disclosure law to provide an explicit safe harbor protecting asset-based lenders and factors who provide a good faith estimate of APR in compliance with the regulations from any liability should that estimate differ from the actual APR. The measure now moves to a vote in the Assembly and is expected to be signed by the governor by mid-July. This was a critically important concession given the fundamental challenges SFNet has contended exist in using APR as a basis of comparison for secured finance products.
TSL Express Daily Headlines & News
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James Mandolfo Joins Cahill’s Washington, D.C. Office as Congressional Investigations and White Collar Counsel
October 2, 2024Cahill Gordon & Reindel LLP announced today that James Mandolfo has joined the firm’s Congressional Investigations and White Collar Defense & Investigations practices as a counsel in Washington, D.C.
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Six Sawmills and Veneer Mills Close as Besse Forest Products Group Shuts Down Operations in Wisconsin and Michigan
October 2, 2024Besse Forest Products Group, a longtime leader in Northern hardwood veneer, lumber, and specialty plywood manufacturing, has officially closed six of its green lumber sawmills and veneer mills in Wisconsin and Michigan. The closures mark a significant shift for the forest products industry in the Midwest, as the assets from these facilities are now up for sale.
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Tiger Finance Posts Strong Lending Growth in the Third Quarter
October 2, 2024Tiger Finance’s lending platform committed $125 million of capital in the third quarter to support clients’ strategic growth initiatives across various business sectors.
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Monarch Alternative Capital Raises Over $4.7 Billion for Sixth Opportunistic Credit Fund
October 2, 2024Monarch Alternative Capital LP, a leading opportunistic credit and real estate investment firm, announced today the successful final close of Monarch Capital Partners VI ("MCP VI").
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Blue Owl Capital Completes Acquisition of Atalaya Capital Management’s Business
October 2, 2024Blue Owl Capital Inc. (“Blue Owl”) (NYSE: OWL), a leading alternative asset manager, announced today the completion of its acquisition of the business of alternative credit manager, Atalaya Capital Management LP (“Atalaya”). The acquisition was previously announced in July of 2024.
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Lafayette Square Announces ING's Expanded Commitment to Revolving Credit Facility
October 2, 2024Lafayette Square USA, Inc. ("Lafayette Square"), a business development company, announced today that ING Capital LLC ("ING") has increased commitments to the hybrid credit facility that closed earlier this year. EverBank, N.A. ("EverBank") and First Citizens Bank ("First Citizens") will provide additional commitments which will increase the existing facility from $75 million to $150 million.
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Rising Costs from High Inflation and Interest Rates Contribute to a Continued Increase in Large Corporate Bankruptcy Filings through the First Half of 2024
October 2, 2024Large corporate bankruptcy filings continued to climb in the latter half of 2023 through the first half of 2024, according to a report released today by Cornerstone Research.
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ADT Inc. Secures $800 Million Extended Revolving Credit Facility
October 2, 2024ADT Inc. (NYSE:ADT), a leader in security and automation solutions for homes and businesses in North America, has announced the successful amendment and extension of its first lien revolving credit facility.
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David O'Hara Appointed Managing Director of MKP Advisors USA
October 2, 2024MKP Advisors (MKP), a leading global advisory firm, is pleased to announce that David O'Hara has joined the firm to drive the launch of its on-the-ground US operations. Having spent 16 years at Washington Analysis, where he built a strong following around both merger arbitrage and special situations investment strategies, David brings a wealth of knowledge translating complex policy into actionable investment ideas.
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Advantage Business Capital Provides $2.5MM Invoice Factoring Facility to Industrial Crafts Provider
October 2, 2024Advantage is proud to announce the funding of a $2.5MM invoice factoring facility for Houston, Texas area scaffolding, painting, welding, and machining business.
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Rosenthal Acquires Accord Equipment Finance, Further Expanding ABL Business, Capabilities and Solidifying Midwest Footprint
October 1, 2024Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending, purchase order financing and inventory financing firm in the United States, today announced the completion of a deal to acquire the assets of Accord Equipment Finance, the equipment leasing division of Accord Financial Corp. (TSX – ACD), the Toronto-based commercial finance company.
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Revlon Enters Into Senior Secured Asset-Based Credit Facility Led by MUFG
October 1, 2024n September 30, 2024, Revlon Intermediate Holdings III (“Revlon”) and certain of its subsidiaries entered into a five-year senior secured asset-based credit agreement (the “Credit Agreement”) with Mitsubishi UFJ Financial Group (“MUFG”), as administrative agent, and the lenders party thereto.
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J D Factors Provides $9,875,000 in New Factoring Facilities in September
October 1, 2024J D Factors provided $9,875,000 in new factoring facilities to 40 new clients in the US and Canada during the month of September. Some of these facilities include: A $700,000 factoring facility for a transportation company in Ohio. A $500,000 factoring facility for an oil & gas company in Pennsylvania
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nFusion Provides $25 Million ABL Facility for Construction Management Company
October 1, 2024Headquartered in the Midwestern United States, this construction management company provides engineering and construction services to numerous Fortune 100 clients in the steel, refining, power generation, natural gas, chemical, automotive, food processing, and pharmaceutical industries. The Company has steadily grown since its founding over 30 years ago.
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Second Avenue Capital Partners and Ares Management Provide Gabe’s with New $175,000,000 Credit Facility
October 1, 2024Second Avenue Capital Partners (“SACP”), a Schottenstein affiliate, is pleased to announce the closing of a $175,000,000 Senior Secured Revolving Line of Credit for Gabe’s, a leading off-price retailer operating in the mid-Atlantic and Southeast US. The new credit facility, which was provided by SACP and Ares Management Credit funds (“Ares”), will be used to support Gabe’s ongoing growth initiatives, enhance operational flexibility, and strengthen the company’s capital structure.
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Monroe Capital Supports Relevate Health Group’s Acquisition of Level Ex Games Pharma and Life Sciences Division
October 1, 2024Monroe Capital LLC (“Monroe”) announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the acquisition of the Level Ex Games (“Level Ex”) pharma and life sciences division by Relevate Health Group (“Relevate”), an existing portfolio company of Mountaingate Capital.
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Crown Partners Serves as Exclusive Financial Advisor on $175 Million Senior Debt Recapitalization
October 1, 2024Crown Partners announced that it served as exclusive financial advisor to a sponsor-backed distributor of a wide range of home services products (the “Company”). In connection with this mandate, Crown arranged a new $75 million ABL revolver for the Company with Siena Lending Group, and restructured an existing $100 million term loan from the Company’s cash flow term lender.
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Sallyport Commercial Finance Provides Canadian Logistics Leader With $3M in Growth Finance
October 1, 2024Sallyport Commercial Finance is proud to announce the successful funding of $3,000,000 in accounts receivable financing to a leading Albertan logistics and freight company serving the oilfield services industry. The client required the funds to support its daily working capital needs, facilitating continued growth and operational scalability.
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Beacon Pointe Advisors Bridges New Opportunities Through Further Acquisitions
October 1, 2024Beacon Pointe Advisors ("Beacon Pointe") unveils its latest acquisitions of Bridge Advisory with offices in Pasadena, CA, and Newport Beach, CA, and Charleston Investment Advisors in Mt. Pleasant, SC. Bridge Advisory currently oversees approximately $460M and Charleston Investment Advisors manages $140M in client assets, bringing Beacon Pointe's total assets under advisement to just shy of $37B, resulting in four total RIA transactions in 2024 thus far.
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Byline Bancorp, Inc. and First Security Bancorp, Inc. Announce Definitive Merger Agreement
October 1, 2024yline Bancorp, Inc. (“Byline”) (NYSE: BY), and First Security Bancorp, Inc. (“First Security Bancorp”) today jointly announced that they have entered into a definitive merger agreement pursuant to which First Security Bancorp and its wholly owned subsidiary, First Security Trust and Savings Bank (“First Security”), will combine with Byline Bancorp, Inc. in a cash and stock transaction valued at approximately $41.0 million based upon Byline’s closing stock price as of September 27, 2024.
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