- Blue Owl Capital Announces $2.9 Billion Final Close for Asset Special Opportunities Fund
- BHI Provides $167 Million Construction Loan to Yellowstone to Convert 221 West 41st Street Into a 176 Unit Multifamily Building
- GA Group Acquires G2 Capital Advisors
- Asset-Based Lending & Factoring Surveys
- BizCap® Secures $11.75M Acquisition Financing for Confidential IT Services Firm
TSL Express Daily Articles & News
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CIT Northbridge Credit Provides $40 Million Credit Facility for Tronair
First Citizens Bank today announced that CIT Northbridge Credit, as advised by CIT Asset Management LLC, has provided $40 million in financing for Tronair, a leader in the manufacturing of ground support equipment, aftermarket replacement parts and services for the global aviation market.
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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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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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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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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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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.
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Loeb Ensures Forward Momentum for a Transportation Mechanic Training Company With a $2 Million Loan
April 22, 2024A long-standing Loeb client in the mechanic training space was seeking a loan renewal to support their ongoing growth trajectory. In 24 months, they had added over $500,000 in new equipment and needed to restate their note to secure new capital that would ensure continued growth.
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Big Shoulders Capital Provides $1MM DIP Financing to Texas Steel Fabricator to Fund Going-concern Sale
April 22, 2024Big Shoulders Capital recently provided a $1MM debtor-in-possession loan for a steel fabrication business in Texas. Funds will provide working capital and enable a going-concern sale process.
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PHX Minerals Inc. Announces Reaffirmation of Borrowing Base and Extension of Revolving Credit Facility
April 22, 2024PHX Minerals Inc., "PHX" or the "Company" (NYSE: PHX) today announced that PHX's bank lending group led by Independent Financial has completed its regularly scheduled semi-annual redetermination of the Company's senior secured credit facility (the "Credit Facility") and reaffirmed the existing $50 million Borrowing Base with no changes to pricing, covenants or other material terms.
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Redaptive Secures $225M Warehouse Financing from ATLAS SP Partners, Launching Equipment Financing Solution
April 22, 2024Redaptive, the Energy-as-a-Service ("EaaS") leader, has announced it secured $225 million in a warehouse financing facility from ATLAS SP Partners ("ATLAS SP"), a global investment firm providing stable capital, financing, advisory and institutional products.
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WSFS Announces Brooke Moyer as Senior Vice President and Director of Loan Syndications
April 22, 2024WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), is pleased to announce the hire of Brooke Moyer as Senior Vice President and Director of Loan Syndications, reporting to Jim Gise, Senior Vice President, Middle Market, Syndications and Capital Markets.
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