- Gridiron Announces Investment Professional Steve Lamb as Managing Director
- Errin Richardson Glasgow Named as new President of Nationwide Operations of Cascade Credit Services, LLC
- SouthStar Capital Funds $2 Million Accounts Receivable Facility to Support Growth for Established Government Contractor
- Origis Energy Closes $290 Million Financing for Swift Air Solar II and III Projects with Natixis CIB and Santander
- Seth Friedman of Abacus Finance Group Appointed to SBIA Board of Governors as Northeast Regional Chair
TSL Express Daily Articles & News
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MidCap Financial Closes $44mm Senior Secured Credit Facility to AleraCare
MidCap Financial, a leading commercial finance company focused on middle market transactions, today announced it has provided a $44mm senior secured credit facility to AleraCare Intermediate, LLC (“AleraCare” or “Company”).
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(Editor’s Note: SFNet held a webinar on the California Financial Disclosure regulations on July 7. SFNet members can watch this webinar here. SFNet’s Advocacy Committee, under the guidance of Hamid Namazie of McGuireWoods, has engaged Hudson Cook, LLP to create a compliance guide for SFNet members. If you have questions, please contact Michele Ocejo at mocejo@sfnet.com.)
Commercial financing providers in California will soon need to comply with detailed disclosure requirements when making an offer of commercial financing to potential borrowers. The California Department of Financial Protection and Innovation’s final implementing regulations for the state’s commercial finance disclosure law (CFDL) become effective on December 9, 2022. Other states that have been considering or already passed a CFDL—including New York—have been awaiting release of California’s regulations and are anticipated to soon release similar regulations.
TSL Express Daily Headlines & News
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Crisis Prevention Institute Successfully Secures $435 Million in Debt Financing
April 23, 2024Crisis Prevention Institute (CPI) announced today that it has completed a $435 million debt financing, proceeds of which will be used to refinance the company's existing debt and fund a distribution to shareholders. Moreover, the refinancing enhances the company's financial position with extended maturities, increased liquidity, lower borrowing costs, and broader access to the public loan markets.
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The Smilist Secures $285 Million Debt Facility To Fund Continued Growth
April 23, 2024Leading Northeast-focused dental support organization ("DSO") The Smilist Management ("The Smilist") has closed a $285 million unitranche debt facility. Fidelity Direct Lending acted as Administrative Agent on the transaction and Manulife Investment Management served as Joint Lead Arranger.
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Expert Investment Banker Kenneth V. Hachikian Joins Ravinia Capital as Director
April 23, 2024Ravinia Capital LLC, a boutique investment bank, announced today that veteran investment banker Ken Hachikian is joining the firm as Managing Director, effective immediately. Ken is an experienced Investment Banker to middle market companies focusing on sales of companies and debt advisory.
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First Citizens Bank Provides $58.4 Million for Construction of Medical Inpatient Rehabilitation Facility in Miami, Florida
April 23, 2024First Citizens Bank today announced that its Healthcare Finance business provided $58.4 million in financing to Anchor Health Properties for the construction of a 92-bed inpatient rehabilitation facility in Miami, Florida.
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Monroe Capital Supports Altamont Capital Partners’ Bishop Lifting Products, Inc.
April 23, 2024Monroe 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 growth of Bishop Lifting Products, Inc. (“Bishop Lifting”), an existing portfolio company of Altamont Capital Partners.
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Gridiron Capital Promotes Nate Krause and Spencer Oakes to Accounting Manager and Welcomes New Associate, Pranav Maganti
April 23, 2024Gridiron Capital, LLC (“Gridiron Capital” or “Gridiron”), an investment firm focused on partnering with founders, entrepreneurs, and management teams, is pleased to announce that Nate Krause and Spencer Oakes have been promoted to Accounting Manager, and Pranav Maganti has joined the firm as an Associate.
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Advantage Business Capital & Far West Capital to Clarify Corporate Identities
April 22, 2024Advantage Business Capital / Far West Capital announced today a clarification of corporate identities. Moving forward, all Austin, TX employees will operate under the Advantage Business Capital name. Operations in El Paso, TX, solely focused on the transportation industry, will continue under the Far West Capital name.
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Asda Begins Tackling Debt Pile With New €1.05 Billion Term Loan
April 22, 2024Asda Group Ltd. is planning a bond issuance to help refinance the debt pile that supported its acquisition by Mohsin and Zuber Issa, according to people familiar with the matter.
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Touchstone Announces Closing of Expanded Bank Facilities
April 22, 2024Touchstone Exploration Inc. ("Touchstone", "we", "our" or the "Company") (TSX:TXP)(LSE:TXP) announces that, further to the Company's news release on March 4, 2024, Touchstone Exploration (Trinidad) Ltd., our wholly owned Trinidadian subsidiary, has entered into the third amended and restated loan agreement with our Trinidad based lender (the "Amended Loan Agreement").
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Mattr Announces Closing of Its Credit Facility
April 22, 2024Mattr Corp. (“Mattr” or the “Company”) (TSX: MATR) announced that it has successfully closed on its credit facility (the “Credit Facility”) with The Toronto-Dominion Bank and National Bank Financial Markets as Co-Lead Arrangers and Joint Bookrunners, and Royal Bank of Canada, JP Morgan Chase Bank, Export Development Canada and ATB Financial as lenders. The Credit Facility extends the US$300 million senior secured revolving facility through April 2028.
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Kirkland Advises Benchmark on Securing $150 Million Revolving Credit Facility
April 22, 2024Kirkland & Ellis represented Benchmark Energy (Benchmark), a subsidiary of Acacia Research Corp. (Nasdaq: ACTG) and McArron Partners, in obtaining a new $150 million secured revolving credit facility from Frost Bank, along with a syndicate of other Texas-based regional banks.
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Edward Irvin Joins eCapital as SVP, Business Development Officer, Amplifying Presence in Southwest and West Coast Markets
April 22, 2024eCapital Corp. ("eCapital" or "the Company"), a leading technology-enabled provider of financing to small and medium-sized businesses across North America and the U.K., announces Edward Irvin as the newest member of its business development team. Irvin's appointment strengthens the Company's presence in the Southwest and West Coast regions, enhancing its ability to serve clients.
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FTC Moves to Block Tapestry’s Acquisition of Capri
April 22, 2024The Federal Trade Commission today sued to block Tapestry, Inc.’s $8.5 billion acquisition of Capri Holdings Limited, a deal that seeks to combine three close competitors – Tapestry’s Coach and Kate Spade brands and Capri’s Michael Kors brand. If allowed, the deal would eliminate direct head-to-head competition between Tapestry’s and Capri’s brands.
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Mitsubishi HC Capital Canada Targets Further Expansion into Tech Sector
April 22, 2024Mitsubishi HC Capital Canada, a subsidiary of Mitsubishi HC Capital America, the largest non-bank, non-captive finance provider in North America, announces it is launching a new division and introducing additional financing solutions customized for Canada’s growing technology sector.
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Kraken Robotics Enters into New Credit Agreement to Support Continued Growth
April 22, 2024Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF) ("Kraken" or the "Company"), announced that it has entered into a credit agreement (the “Credit Agreement”) with The Bank of Nova Scotia (the “Lender”) for credit facilities (the “Credit Facilities”) that are expected to provide added financial flexibility to support the Company’s continued growth.
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Apparel Retailer Express files for US Bankruptcy Protection, to Close Over 100 Stores
April 22, 2024Fashion retailer Express Inc (EXPR.PK), opens new tab has filed for Chapter 11 bankruptcy in the United States and intends to close more than 100 stores, it said on Monday. The retailer whose portfolio includes brands such as Express, Bonobos and UpWest Express, listed assets and liabilities in the range of $1 billion to $10 billion, according to a filing with the bankruptcy court in Delaware.
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B. Riley Farber Expands Western Canada Restructuring Practice with Senior Hire
April 22, 2024B. Riley Farber, a wholly owned subsidiary of B. Riley Financial (NASDAQ: RILY) ("B. Riley"), is pleased to announce the addition of Ryan Adlington as Senior Managing Director, based in Calgary, Alberta.
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Churchill Serves as Sole Lead Arranger for a First Lien Credit Facility to Support Wynnchurch Capital’s Acquisition of Handgards
April 22, 2024Churchill Asset Management (“Churchill” or the “Firm”) today announced that it served as Sole Lead Arranger for a first lien credit facility to support the acquisition of Handgards (the “Company”) by Wynnchurch Capital, L.P. (“Wynnchurch").
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Kent Outdoors Announces $100 Million Credit Facility From Eclipse Business Capital to Support Growth Strategy
April 22, 2024Kent Outdoors ("Kent" or the "Company"), which has been helping people in their pursuit of outdoor adventures for more than 60 years, today announced a $100 million credit facility from asset-based lender (ABL) Eclipse Business Capital. The new ABL facility follows recent investments from Goldman Sachs and Comvest Partners.
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Encina Lender Finance Provides $22.5 Million Senior Credit Facility to Indirect Auto Finance Platform
April 22, 2024Encina Lender Finance, LLC announced today that it has closed a $22.5 million senior credit facility for an indirect auto finance platform with a long track record of success spanning over two decades.
The Secured Lender
SFNet's The 81st Annual Convention Issue
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