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RelPro Promotes Rajmangal to President, Adds to C-Level Team
RelPro, the fast-growing business development and relationship management solution for Financial & Professional Services, today announced that Raaj Rajmangal has been appointed as President of RelPro. Rajmangal, who previously served as the company’s Chief Technology Officer, will now be responsible for RelPro’s strategic development and execution. RelPro CEO and Founder Martin Wise will continue as CEO to drive the corporate vision, working closely with RelPro’s clients and partners.
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As companies and lenders evaluate performance risk and expectations for 2022, the trends previously considered to be emerging need to be considered a permanent part of the 2022 business environment. At this point, it is unrealistic to expect ready access to employees with necessary skills and to expect salary levels to reduce to earlier levels. Businesses will need to develop tools to plan for and manage through labor shortages in staffing and skills, and increased labor costs. In this article we will first review the labor indicators, and then discuss approaches business management can take to survive and thrive in this environment.
TSL Express Daily Headlines & News
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Rosenthal Closes Three ABL Transactions Across Food & Beverage And Beauty Sectors
March 7, 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 three asset-based lending transactions totaling $7.5 million. The firm’s Pipeline division, focused on providing working capital to emerging consumer product brands, led the transactions.
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Operating Expenses Take a Bigger Share of US Corporate Revenues in Q4 2023
March 7, 2024Expenses are consuming a larger portion of revenues at US corporations rated by S&P Global Ratings despite widespread efforts to trim day-to-day costs of doing business.
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Akin Advises Kennedy Lewis in $550 Million Senior Secured Term Loan Facility for VoltaGrid
March 7, 2024Akin advised Kennedy Lewis Investment Management in a new financing for VoltaGrid, an advanced energy management and generation company providing innovative electric power solutions. The financing will be used primarily for capital expenditures, working capital and other general corporate purposes.
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Progress Announces Amended Credit Facility
March 7, 2024Progress (NASDAQ: PRGS), the trusted provider of infrastructure software, today announced that it has entered into a Fourth Amended and Restated Credit Agreement (the “Amended Credit Agreement”), which provides a revolving credit facility in an aggregate principal amount of $900 million, and replaces the Company’s existing secured credit facilities.
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Xtant Medical Increases Revolving Credit Facility to $17 Million with MidCap Financial
March 7, 2024Xtant Medical Holdings, Inc. (NYSE American: XTNT), a global medical technology company focused on surgical solutions for the treatment of spinal disorders, today announced that the Company’s revolving credit agreement with MidCap Financial Trust (“MidCap”) was amended to increase the commitment from $8.0 million to $17.0 million.
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Atlas Credit Partners Provides $65 Million Strategic Financing Facility to FitLab, Multi-Brand Fitness Company with Fully Integrated Platform
March 7, 2024Atlas Credit Partners, an asset management firm specializing in investing and partnering with medium-sized businesses, today announced a $65 Million Strategic Financing Facility to FitLab, a multi-brand fitness company whose fully integrated platform solves the siloed nature of the industry, with approximately $35 million funded at closing and $30 million of remaining availability.
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Morrison Foerster Welcomes Leading Private Funds Partner Elizabeth Sipes in Denver
March 7, 2024Morrison Foerster, a leading global law firm, is pleased to announce the arrival of Elizabeth Sipes as a partner in the firm’s Private Funds Group in the Transactions Department, based in the Denver office. Sipes brings to the firm more than 20 years of experience representing and advising private investment funds, investment advisers, and institutional investors.
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CIBC Innovation Banking Provides Growth Capital Financing to Swoogo
March 7, 2024CIBC Innovation Banking announced today that it has provided growth financing to Swoogo, a leading provider of event management software for in person, digital and hybrid events. Swoogo will use the funding to solidify their position and offering for enterprise event management, helping organizers run events at scale.
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Rosenthal Closes Three ABL Transactions Across Food & Beverage And Beauty Sectors
March 6, 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 three asset based lending transactions totaling $7.5 million. The firm’s Pipeline division, focused on providing working capital to emerging consumer product brands, led the transactions.
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Xeris Refinances Its $150M Senior Secured Term Loan Facility With Hayfin Capital
March 6, 2024--Xeris Biopharma Holdings, Inc. (Nasdaq: XERS), a growth-oriented biopharmaceutical company committed to improving patients’ lives by developing and commercializing innovative products across a range of therapies, today announced it has entered into an amended and restated senior secured term loan agreement (“debt facility”) with funds managed by Hayfin Capital Management LLP.
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Turning Point Management Advisors Appoints Rachel Director of Business Development
March 6, 2024Turning Point Management Advisors, a provider of business recovery solutions, turnarounds and M & A advisory services, appointed Heather Rachel director of business development in the U.S.
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SLR Business Credit Provides $5 Million Asset-Based Revolving Line of Credit for Henry Industries, Inc.
March 6, 2024Henry Industries is a full-service nationwide provider of warehouse, distribution center and logistics services.
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Ashton Laborde Promoted to COO of Cash Flow Resources, LLC (CFR)
March 6, 2024Cash Flow Resources, LLC (CFR) is pleased to announce the promotion of Ashton Laborde, to Chief Operating Officer (COO). Ashton has spent more than 12 years at CFR understanding client needs and helping them stabilize their cash flow to better control their business.
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Synovus Names Chief Third-Party Payments Officer, Maast CEO
March 6, 2024Synovus Bank has named Jonathan O’Connor as its chief third-party payments officer and CEO of Maast, effective Feb. 29, 2024. In his role, O’Connor will lead the bank’s third-party payments, including merchant services and sponsorships, to expand growth opportunities in the payments space. He also will lead Maast, a wholly-owned subsidiary of the bank, to further bolster banking-as-a-service and embedded finance solutions nationwide.
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Comvest Credit Partners Provides Financing to Billhighway to Support Acquisition Strategy
March 6, 2024Comvest Credit Partners (“Comvest”), a leading provider of flexible direct financing solutions to middle-market companies, is pleased to announce that it is acting as Administrative Agent and is the Sole Lender on a senior secured credit facility (the “Financing”) for Billhighway (or the “Company”), a Troy, Mich.-based provider of finance management technology solutions for fraternal organizations and associations, and private equity firm Lovell Minnick Partners (“LMP”).
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Carputty Secures $80M In New Funds to Accelerate Growth
March 6, 2024Carputty (“Carputty” or the “Company”), a leading fintech company revolutionizing auto financing and ownership, is thrilled to announce the successful closure of a $75 million warehouse facility with Silicon Valley Bank (SVB), a division of First Citizens Bank.
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Connor Joins CohnReznick as Principal and Risk Advisory Practice Leader
March 6, 2024CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that Yvette Connor has joined the firm as Principal and Risk Advisory Practice Leader along with members of her core team. In addition to leading the practice and advising clients, she will be driving strategic growth through the launch of an Enterprise Risk Management service line that will complement the firm’s current Risk Advisory offerings.
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Gridiron Capital Announces GarageCo, A Family of Family Brands
March 6, 2024Gridiron Capital, LLC (“Gridiron Capital” or “Gridiron”), an investment firm focused on partnering with founders, entrepreneurs, and management teams, announces the formation of GarageCo Holdings, LLC (“GarageCo” or the “Company”), the fifth platform company of its recently closed $2.1 Billion Fund V.
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The Hedaya Capital Group Welcomes David Huber as Vice President, Portfolio and Operations Manager
March 6, 2024The Hedaya Capital Group, a leading provider of flexible factoring and working capital solutions, is pleased to announce that David Huber has joined the Company as Vice President, Portfolio and Operations Manager. In this role, he will manage and oversee the Company’s factoring client portfolio, manage the account executive and operations teams, and foster a collaborative and high-performance team culture.
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Lendscape Strengthens Commercial Team with New Appointment
March 6, 2024Lendscape, a leading technology provider for all forms of secured finance, has announced the appointment of Chris Coleman as Regional Commercial Director.
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