- RelPro Named to Inc.’s List of Fastest-Growing Companies in the Northeast for Fifth Straight Year
- CIBC Innovation Banking Provides Growth Capital to REG Technologies
- Asset-Based Lending & Factoring Surveys
- Eversheds Sutherland Continues to Build Momentum in Texas with Addition of Three Houston Partners
- AFC Expands Revolving Credit Facility with $30 Million Additional Commitment from Existing FDIC-Insured Banking Partner
TSL Express Daily Articles & News
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David A. Spehar Joins Tiger Group as Associate Director of Field Operations
David A. Spehar, a 30-year appraisal and disposition veteran whose work has encompassed over 350 companies and thousands of retail stores across North America, has joined Tiger Group as associate director of Field Operations.
Spehar’s new role includes overseeing Tiger’s data-driven approach to marketing and selling furniture, fixtures and equipment (FF&E) during liquidations and strategic store-closings, as well as conducting field evaluations of retail stores and distribution centers on behalf of Tiger’s valuation practice. He reports to Tiger Group Executive Managing Director Arnold L. Jacobs.
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Confidence in Asset-Based Lending Holds Steady
Confidence in the asset-based lending market held steady in the third quarter as banks and other lenders kept a close eye on the bigger economic picture, according to data released by the Secured Finance Network (SFNet).
SFNet surveyed bank and non-bank asset-based lenders (ABLs) on key indicators for its quarterly Asset-Based Lending Index and SFNet Confidence Index.
SFNet surveyed bank and non-bank asset-based lenders (ABLs) on key indicators for its quarterly Asset-Based Lending Index and SFNet Confidence Index.
TSL Express Daily Headlines & News
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Popular Announces Retirement of Chief Financial Officer, Carlos J. Vázquez, and Names Jorge J. García as Successor
December 12, 2023Popular, Inc. (“Popular” or the “Corporation”) (NASDAQ: BPOP) announced today that Carlos J. Vázquez will retire effective March 31, 2024 after serving as Chief Financial Officer (“CFO”) since 2013, and in other senior leadership positions since joining Popular in 1997. He will be succeeded by Jorge J. García, currently Corporate Comptroller and Chief Accounting Officer.
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CareRx Corporation Announces $70 Million Debt Refinancing
December 12, 2023CareRx Corporation ("CareRx" or the "Company") (TSX: CRRX) today announced that it has entered into a binding commitment for a comprehensive refinancing transaction (the "Refinancing") with a syndicate of lenders led by a Canadian Schedule I chartered bank (the "Lenders") and arranged and managed by Crown Private Credit Partners Inc. ("Crown Private Credit").
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Capital Southwest Increases Credit Facility to $460 Mllion
December 11, 2023Capital Southwest Corporation (“Capital Southwest”) (Nasdaq: CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle-market businesses, today announced an increase to the total commitments under its senior secured credit facility (the “Credit Facility”).
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SFNet New Member Spotlight: Hopkins & Carley
December 11, 2023Hopkins & Carley is a premier Silicon Valley law firm meeting the legal needs of financial institutions, individuals, and business clients throughout the United States. The firm advises clients in business litigation, intellectual property, real estate, employment, estate planning tax, corporate, and commercial transactions.
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Wolters Kluwer Indicator Survey Highlights Growing Concerns in U.S. Banking Industry
December 11, 2023A notable increase in concerns over risk management and regulatory compliance issues headlines key challenges facing U.S. banks, credit unions and other lenders, according to the results of the 2023 Regulatory & Risk Management Indicator survey conducted by Wolters Kluwer Compliance Solutions. The 2023 Indicator Main Score rose from an index level of 94 in the 2022 survey results to 119 this year, a 25-point index increase.
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Hyde Park Capital Advises Interventional Pain ASC Aggregator Nevada Surgical Suites on its Joint Venture with Surgery Partners
December 11, 2023Hyde Park Capital is pleased to announce that its client, Nevada Surgical Suites (“NSS”), a leading provider of pain management solutions, including interventional pain management and minimally invasive spine surgery via a portfolio of ambulatory surgery centers, has entered into a joint venture with Surgery Partners, Inc. (“Surgery Partners”), a leading operator of surgical facilities and related ancillary services.
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Digi International Enters into New Senior Secured Credit Facility
December 11, 2023Digi International® Inc. (Nasdaq: DGII), a leading global provider of business and mission critical Internet of Things ("IoT") products, services and solutions, today announced it has entered into a new senior secured credit facility. Lenders for the facility include BMO Bank N.A., as Administrative Agent, Bank of America, N.A., and MUFG Bank, Ltd.
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Fortress Announces Acquisition of Multi-Manager Platform, Hiring of Jeff Runnfeldt as Chief Investment Officer
December 11, 2023Fortress Investment Group LLC (“Fortress”) today announced the acquisition of a global multi-manager hedge fund offering from PineBridge Investments and the hiring of Jeff Runnfeldt as Chief Investment Officer of a new global multi- manager investment platform, the Fortress Multi-Manager Group (“Fortress MMG”).
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Wells Fargo Names Darlene Goins Head of Philanthropy and Community Impact, President of Wells Fargo Foundation
December 11, 2023Wells Fargo & Company (NYSE:WFC) today announced that Darlene Goins is named head of Philanthropy and Community Impact and president of the Wells Fargo Foundation. She will be responsible for the company’s philanthropic strategy in housing access and affordability, financial health, small business growth and sustainability, reporting to vice chairman of Public Affairs Bill Daley.
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Near Intelligence Files for Chapter 11 Protection and Enters into Agreement to Sell its Business
December 11, 2023Near Intelligence, Inc. (NASDAQ:NIR) (“Near” or the “Company”), a privacy-led data intelligence company, today announced that it and certain of its subsidiaries (collectively, the “Debtors”) have voluntarily initiated a Chapter 11 proceeding in the United States Bankruptcy Court for the District of Delaware (“Bankruptcy Court”) and will seek to sell their assets through a court supervised sales process.
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Alvarez & Marsal Private Equity Performance Improvement Group Appoints Arthur Mattousch as a Managing Director
December 11, 2023Leading global professional services firm Alvarez & Marsal (A&M) announced the appointment of Los Angeles-based Arthur Mattousch as a Managing Director in its Private Equity Performance Improvement Group (PEPI). Mr. Mattousch's hire underscores A&M's continuous effort to enhance its strategic capabilities, industry knowledge, and global talent base to maximize value and drive change for clients.
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Evolution Credit Partners Announces Growth of Trade Finance Strategy
December 11, 2023Recent transactions include a $150 million inventory financing facility with a leading automotive company with approximately $5 billion in revenue and a $60 million accounts receivables financing facility with a private equity sponsor-backed healthcare company with accounts receivables from Medicare, Medicaid and other investment grade health insurance companies
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Evolution Credit Partners Announces Growth of Trade Finance Strategy
December 11, 2023Evolution Credit Partners Management ("Evolution" or the "Firm), an alternative credit firm with approximately $3 billion in assets under management, announced today the close of two new trade finance facilities to add to its growing trade finance portfolio of ~$1.5 billion in total volume since inception.
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CIT Northbridge Provides $85 Million in Financing to CVB Inc.
December 11, 2023First Citizens Bank today announced that CIT Northbridge Credit, as advised by First Citizens Institutional Asset Management, LLC, provided $85 million in financing to CVB Inc.
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Kimbell Royalty Partners Announces Increase in Borrowing Base and Elected Commitments from $400 Million to $550 Million
December 11, 2023Kimbell Royalty Partners, LP (NYSE: KRP) ("Kimbell" or the "Company"), a leading owner of oil and natural gas mineral and royalty interests in more than 127,000 gross wells across 28 states, today is pleased to announce an increase of the borrowing base and total commitments under the Company's revolving credit facility.
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Capstone Business Owners Research Survey Finds CEOs Execute Growth Strategies in Preparation for a Market Rebound
December 11, 2023Capstone Partners has released its 2023 Middle Market Business Owners Survey Report, with insights from privately-owned companies across the U.S. This report combines Capstone’s in-depth middle market knowledge with proprietary data obtained from 435 participating owners of privately held, middle market companies.
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OHA is a Lead Arranger for Private Financing for Thoma Bravo's Take-Private of NextGen Healthcare
December 11, 2023Oak Hill Advisors ("OHA") served as a Lead Arranger for the acquisition financing to support Thoma Bravo's $1.8 billion take-private of NextGen Healthcare, Inc. ("NextGen Healthcare"), a leading provider of cloud-based healthcare technology solutions to ambulatory providers. The transaction was financed with a unitranche term loan and revolving credit facility.
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Commercial Finance Partners Hires Small as SVP Business Development
December 11, 2023Commercial Finance Partners is pleased to announce the hiring of Karen Small as Senior Business Development Officer for the Midwest Region. With over 25 years of experience in financial services, Karen has worked as a Field Examiner for Michigan National Bank, founded an auditing consulting company, and founded Sterling Commercial Credit, a financial services provider.
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LSQ Expands Finance Partnership with VA-based Staffing Firm
December 11, 2023LSQ, a leading provider of working capital and payments management solutions, recently originated a $1 million credit facility for QualDoc, a Richmond, Virginia-based staffing firm. The new facility builds on an existing relationship between LSQ and QualDoc; the company is a long-time user of Qwil powered by LSQ, an integrated payroll finance solution that serves staffing suppliers across numerous industries.
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Quick Poll on Lending in California
December 11, 2023In June, SFNet was successful in getting an amendment to the California Commercial Finance Disclosure Law granting lenders a safe harbor (which goes into effect on January 1, 2024) in the event that estimates are made in good faith, but do not match the borrower’s actual subsequent experience.
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