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CIT Northbridge Credit Refinances and Upsizes $45 Million Credit Facility with Tubular Synergy
First Citizens Bank today announced that CIT Northbridge Credit, as advised by CIT Asset Management LLC, has provided $45 million to refinance and upsize a secured credit facility for Tubular Synergy Group LP, a privately held sales, marketing and supply chain services distributor.
Founded in 2008 and headquartered in Dallas, Texas, Tubular Synergy Group provides casing, tubing, and line pipe products for the energy industry.
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Coming Into Focus - TSL Inaugural Data Issue
Welcome to The Secured Lender’s first ever Industry Data Issue. Over the past several years, SFNet has invested heavily in data resources designed to improve planning, provide competitive benchmarking, and attract capital to our industry. Through resources like our groundbreaking Market Sizing and Impact Study, which dimensioned the secured finance ecosystem and will be refreshed this year, to our quarterly and annual data surveys, which continue to grow in participation, to our forward looking Market Pulse Reports, we have made great strides in capturing, analyzing, and predicting industry trends by the numbers.
TSL Express Daily Headlines & News
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Mountain Ridge Capital and Alpine Ridge Funding Announce Closing of $110 Million Senior Credit Facility from Wells Fargo Capital Finance
April 23, 2024Mountain Ridge Capital ("MRC") and Alpine Ridge Funding ("ARF"), independent asset-based lending and factoring companies backed by Arena Investors, LP ("Arena Investors"), are excited to announce the closing of a $110 million senior credit facility from Wells Fargo Capital Finance. The facility will support MRC's and ARF's continued growth in serving the credit needs of middle market companies across North America.
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First Bank Announces Promotions Following Strong 2023
April 23, 2024First Bank has promoted 38 employees who played key roles supporting customers and communities while helping the bank thrive and grow amid a record 2023.
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Deerpath Capital Closes 10th Collateralized Loan Obligation
April 23, 2024Deerpath Capital Management, LP announced the closing of Deerpath CLO 2024-1, a $452.61 million collateralized loan obligation (CLO). This marks Deerpath's first new issuance CLO in 2024. Including a CLO reset and upsize in July 2023 and CLO 2023-2, this transaction represents the firm's tenth CLO over the past 6 years. Deerpath Capital is one of the largest providers of customized, cash-flow based senior debt financing to lower-middle market companies across North America.
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Danimer Scientific Announces $20 Million Asset-Based Revolving Credit Facility
April 23, 2024Danimer Scientific, Inc. (NYSE: DNMR) (the “Company” or “Danimer Scientific”), a leading next generation bioplastics company focused on the development and production of biodegradable materials, announced today, that on April 19, 2024, it entered into an asset-based revolving credit and security agreement with Mountain Ridge Capital secured primarily by the Company’s accounts receivable and inventory.
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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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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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