- Monroe Capital Supports Altamont Capital Partners’ Investment in Key Container
- Willis Lease Finance Corporation Amends Revolving Credit Facility
- Debt Finance Partner Matthew Kita Joins King & Spalding
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- Gibraltar Business Capital Structures $35MM Funding for Acquisition of American Furniture Manufacturing by SouthWorth Capital Management
TSL Express Daily Articles & News
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Eclipse Business Capital Provides $28.5MM To Support the Acquisition of Flooring Products Distributor
Eclipse Business Capital LLC (“EBC”) announced today that it has provided a $28.5 million senior secured credit facility to support the acquisition of a flooring products distributor. The transaction included a $25mm revolving line of credit and a $3.5mm machinery & equipment term loan that are secured by accounts receivable, inventory, and machinery and equipment. The proceeds will be used to fund the acquisition and support working capital.
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The recession of 2008-2009 brought many lessons to the lending community; and the small independent finance companies were no exception. When looking back at that period, many of the lessons that we should all remember occurred in 2005-2007, during the lead up to the recession.
If you’ll recall, the economy was strong and business was booming. For small independent finance companies (that typically run counter-cyclical), new business was harder to come by and highly competitive. As is often the case, this led to aggressive structures and lower pricing, a bad combination.
TSL Express Daily Headlines & News
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Gordon Brothers Welcomes Chris Menard as Chief Financial Officer
September 28, 2023Based in Boston, Menard is an integral part of the firm’s leadership and is responsible for the overall management of global financial reporting, planning and analysis, treasury, and tax strategy and compliance.
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CohnReznick Earns National Workplace Culture Recognition
September 28, 2023CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, is proud to announce it has been named one of Newsweek’s 100 Most Loved Workplaces in America® for the third year in a row and has also been certified by Great Place to Work® for the second consecutive year.
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Maritime Partners Announces $600M Amended and Restated Warehouse Financing
September 28, 2023Maritime Partners, LLC ("Maritime Partners") has announced the successful closing of a $600-million warehouse facility between several special-purpose, wholly-owned subsidiaries of one of its managed funds and a syndicate of lenders led by ATLAS Securitized Products Holdings, L.P. ("ATLAS SP").
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Crescent Capital Group Announces Hiring of Jason Moss as Managing Director, Head of Western U.S. Region in the Investor Solutions Group
September 28, 2023Crescent Capital Group LP, a leading alternative credit investment firm, announced today that Jason Moss has joined the firm as Managing Director, Head of Western U.S. Region in the Investor Solutions Group.
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Natixis Corporate & Investment Banking hires Asif Khan as Head of Structured Credit Capital Markets
September 28, 2023Natixis Corporate & Investment Banking (Natixis CIB) today announced the hiring of Asif Khan as Managing Director, Head of Structured Credit Capital Markets within the Global Markets Americas team. He will report to Emmanuel Issanchou, Head of Global Markets Americas and Global Head of Credit Markets, Natixis CIB.
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Schulte Roth & Zabel Forms Special Situations Group
September 28, 2023Schulte Roth & Zabel is pleased to announce the formation of the firm’s dedicated Special Situations group. Co-chaired by partners Adam Harris and Doug Mintz, the Special Situations group is a multidisciplinary team focused on helping clients achieve their legal and financial objectives across the spectrum of stressed and distressed transactions.
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Valeo Pharma Secures $5M Credit Facility Agreement with Accord Financial
September 27, 2023Valeo Pharma CEO Steve Saviuk joined Steve Darling from Proactive to share details the company has entered into a credit facility agreement with Accord Financial for a total of $5 million.
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eCapital Drives Recent Notable Growth Securing over $160MM in ABL Transactions
September 27, 2023eCapital Corp., a leading commercial finance provider is pleased to announce a recent surge in fundings within its Asset-Based Lending Group. In a season characterized by remarkable growth, eCapital proved it's expertise in providing agile financing solutions across several industries.
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23 Moritt Hock & Hamroff Attorneys Named New York Metro Super Lawyers® & 9 Named New York Metro Rising Stars for 2023
September 27, 2023The law firm of Moritt Hock & Hamroff LLP announced that Terese Arenth, Leslie Berkoff, Ted Berkowitz, Michael Cardello, James Chou, David Cohen, Robert Cohen, Theresa Driscoll, Andrew Eckstein, David Fitzhenry, Robert Fryman, Julia Gavrilov, Stephen Ginsberg, Henry Goldberg, Marc Hamroff, Alan Hock, Matthew Leeds, Dennis O’Rourke, Michael Re, Robert Tils, David Wechsler, Alexander Widell and Peter Zlotnick have been named New York Metro Super Lawyers® for 2023.
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TAB Bank Adds Laura Schulte and Martha McGuire to its Board of Directors
September 27, 2023TAB Bank, a technology-driven online bank, announced the addition of Laura A. Schulte and Martha F. McGuire to its Board of Directors. Schulte and McGuire come to TAB’s Board with a wealth of large bank expertise in capital markets, deposit expansion strategy, M&A, commercial lending and more. They will assist in shaping the direction and strategic vision of the bank.
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Gridiron Capital Adds New Team Members to Enhance Digital Capabilities
September 27, 2023Gridiron Capital, LLC (“Gridiron Capital”), an investment firm focused on partnering with founders, entrepreneurs, and management teams, is pleased to announce the additions of Mauricio Marron as Technology and Data Manager, Tammy Delgado as DTC Growth Senior Associate, and Miles Hindin as DTC Data and Strategic Insights Senior Associate.
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Monroe Capital Supports Southfield Capital’s Milrose Consulting Inc. Add-on Acquisitions
September 27, 2023Monroe Capital LLC announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the acquisitions of JM Zoning and Project Expediters Consulting Corp. (PECC), by Milrose Consulting, Inc. (“Milrose”). Milrose is an existing portfolio company of Southfield Capital.
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US Capital Global Securities Finances and Advises on $50 Million Debt and Equity for Kajawood Studios in Finland
September 27, 2023Global private financial group headquartered in San Francisco supports development of high-end, state-of-the-art film studio facilities for international clients such as Disney, Netflix, Amazon, and Warner Bros.
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MidCap Business Credit LLC Announces $8 Million Credit Facility to a Manufacturing Company
September 27, 2023MidCap Business Credit LLC, announced today that it has completed a $8 million asset-based credit facility to a manufacturing company located in Pittsburgh, PA. The company was established in 1954 and makes machinery and equipment for various industrial applications, for its domestic and foreign customer base.
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Portage Point Adds Industry Veteran Mark Johnson to Launch M&A
September 27, 2023Portage Point Partners, LLC (Portage Point), an elite boutique advisory, consulting, interim management and financial services firm, announced today that Mark Johnson has joined the firm as Managing Director & Head of Industrials.
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Sherwood Partners Launches Sherwood Advisory Services and Appoints Spencer Ware Managing Partner of New Advisory Group
September 27, 2023Sherwood Partners today announced the launch of Sherwood Advisory Services, a new advisory group that leverages the strength of Sherwood Partners’ platform to deliver tailored turnaround and restructuring solutions to middle market companies.
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Altriarch Announces Launch of New Investment Strategy
September 27, 2023Altriarch Asset Management, LLC (“Altriarch”), a South Carolina-based private credit asset manager, is pleased to announce its new structured capital investment strategy (the “New Strategy”).
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Cynthia Romano and Chris Creger Join FTI Consulting’s Turnaround & Restructuring Practice
September 27, 2023FTI Consulting, Inc. (NYSE: FCN) today announced the appointments of Cynthia Romano and Chris Creger as Senior Managing Directors in the Turnaround & Restructuring practice within the firm’s Corporate Finance & Restructuring segment.
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Centerbridge Partners and Wells Fargo Enter Strategic Relationship Focused on Direct Lending to Middle-Market Companies
September 27, 2023Centerbridge Partners (Centerbridge) and Wells Fargo & Company (NYSE: WFC) announced they are entering into a strategic relationship focused on direct lending to non-sponsor North American middle market companies.
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Republic Business Credit Provides Illinois-based Independent Children’s Book Publisher with $1,000,000 Recourse Facility
September 27, 2023When an independent children’s book publisher needed to find a lender to support their turnaround plan, it sought a partner that understood the publishing industry and would provide the working capital support to make timely royalty payments and fund payroll, even when key customer payments were delayed due to extended payment terms. That partner was Republic Business Credit, which extended a $1 million factoring facility to the company.
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