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TSL Express Daily Articles & News
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Mountain Ridge Capital and Great Rock Capital Team Up to Provide $75 Million Revolving Credit Facility for HOP Energy
Mountain Ridge Capital (“Mountain Ridge”) and Great Rock Capital (“Great Rock”), today jointly announced the closing of a senior secured credit facility for HOP Energy, LLC (“HOP”). Founded in 1995 and headquartered in White Plains, NY, HOP Energy is a market-leading home services provider serving ~90,000 customers across two primary areas: distribution of home heating oil and the installation and servicing of HVAC systems, heat pumps, and other critical non-discretionary home services. HOP Energy is majority-owned by Delos Capital.
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Analyzing Q1 and Q2 financial performance is challenging. 2020 was impacted by Covid-19 both positively, through the stimulus programs, and negatively, as a result of shut downs and stay at home orders along with their trickle down impacts. 2021 financial performance analysis is further complicated by the emerging trends of labor related issues, inflation impacts, commodity prices changes, and supply chain concerns.
TSL Express Daily Headlines & News
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Ocean Bank Provides $10 Million Working Capital Facility
September 26, 2023Ocean Bank has closed on a $10 million capital facility to a major flower importer that will provide the company with working capital during its low season and allow for its continued growth.
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SG Credit Partners Announces A Senior Debt Investment in Folloze
September 26, 2023SG Credit Partners, through its SG Software + Technology division, is thrilled to announce its partnership with Folloze via a $6 million credit facility. Folloze, the world’s first and only no-code B2B Buyer Experience Platform (BX 3.0), is used by B2B marketing, sales, and revenue teams.
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Equipment Leasing and Finance Association’s Survey of Economic Activity: Monthly Leasing and Finance Index
September 26, 2023The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $1 trillion equipment finance sector, showed their overall new business volume for August was $10.1 billion, up 14 percent year-over-year from new business volume in August 2022. Volume was up 2 percent from $9.9 billion in July.
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SFNet Member Spotlight: Blackburn Investment Management Inc.
September 25, 2023Our wealth of data and information is core to our business, but we just don’t accept numbers and figures and move on. We take extra steps to fact check, walk the properties, go on-site, visit with managers, and partner with third parties, all in the name of getting it right. The legwork pays off when we create new possibilities while respecting legacies.
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Golub Capital Expands Commitment to U.S. Offshore Investors and Latin America with Strategic Hire
September 25, 2023Golub Capital today announced that Karim Salazar Antoni has joined the Firm as a Director based in Miami. In his new role, he will be dedicated to serving the U.S. offshore market alongside institutional and private wealth investors in Latin America.
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Capstone Copper Expands Revolving Credit Facility to $700 Million and Extends Maturity to September 2027
September 25, 2023Capstone Copper Corp. (“Capstone” or the “Company”) (TSX:CS) is pleased to announce that it has amended its existing revolving credit facility (the “Amended Credit Facility”) to increase the aggregate commitments from $600 million to $700 million and extend the maturity from May 2026 to September 2027.
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Siena Lending Group LLC Demonstrates Canada Lending Capabilities With the Closing of a $20 Million Credit Facility for a Specialty Aerospace Manufacturer
September 25, 2023Siena Lending Group LLC ("Siena") announces the completion of a $20 million asset-based revolving line of credit for a privately held aerospace manufacturer (“AM”) headquartered in Ontario, Canada. The facility was established to repay certain existing shareholder debt and to support the company’s future working capital needs.
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Parent Companies of Cape Cod 5 and Fidelity Bank Agree to Combine Under One Holding Company
September 25, 2023Cape Cod 5, headquartered in Hyannis, MA, and Fidelity Bank, headquartered in Leominster, MA, today announced that they have reached an agreement to merge their respective mutual holding companies under one multi-bank holding company, Mutual Bancorp, subject to regulatory approval.
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InterNex Capital Announces $1.5 Million Facility to Staffing Company
September 25, 2023InterNex Capital provided a $1.5 million facility to a Pennsylvania-based staffing company that provides consultants to Fortune 500 companies. The client sought to replace their existing combination of small lenders. Additionally, Client needed a working capital partner that could provide more flexible credit limits.
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Encina Lender Finance Provides $25,000,000 Senior Credit Facility for Sparrow Financial
September 25, 2023Encina Lender Finance, LLC (ELF) announced today the closing of an inaugural $25,000,000 senior credit facility for Sparrow Financial. Headquartered in Las Vegas, Sparrow is a fintech startup lending to consumers nationwide.
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Amerisource Closes $14,000,000 Recapitalization and Working Capital Facility for Energy Firm
September 25, 2023Amerisource Business Capital announced the closing and funding of a $14,000,000 working capital facility for a Texas-based provider of wireline solutions to the U.S. energy industry.
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Sprott Private Resource Lending Fund III Completes Final Closing
September 25, 2023Sprott Inc. (“Sprott” or the “Company”) (NYSE/TSX:SII) today announced that Sprott Private Resource Lending Fund III (“Fund III”) has completed its final closing. With the close of Fund III, total assets under management of Sprott Resource Lending Corp (“SRLC”) stands at U.S.$1.5 billion within the Company’s private strategies segment.
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Carl Bretzman Joins Mitsubishi HC Capital America to Further Expand Industrial Relationships
September 25, 2023Mitsubishi HC Capital America, the largest non-bank, non-captive finance provider in North America with more than $7.5B in owned and managed assets, announces that industry veteran Carl Bretzman has joined the company to manage and grow business development initiatives in its Industrial Finance division.
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Webster Appoints Kristy Berner as Executive Vice President, General Counsel and Corporate Secretary
September 25, 2023Webster Financial Corporation (NYSE: WBS), the holding company for Webster Bank, N.A. and its HSA Bank division, announced today that Kristy Berner has been appointed Executive Vice President, General Counsel and Corporate Secretary of Webster Financial Corporation and Webster Bank. She will lead all of Webster’s corporate legal services.
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WithSecure Corporation has Signed a Committed EUR 20 Million Revolving Credit Facility
September 25, 2023WithSecure Corporation has signed a new committed EUR 20 million revolving credit facility (RCF) with OP Corporate Bank.
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American Physician Partners Files for Bankruptcy Protection
September 21, 2023American Physician Partners, a medical staffing company based in Brentwood, Tenn., has filed for Chapter 11 bankruptcy protection as it winds down its business.
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Nauticus Robotics Announces Term Loan Financing of up to $20 Million
September 21, 2023Nauticus Robotics, Inc. ("Nauticus" or the "Company") (NASDAQ: KITT), a developer of ocean robots and artificial intelligence for autonomous services to the offshore industries, today announced it has entered into a senior secured term loan agreement (the "Term Loan Agreement") with existing stakeholders, Transocean (NYSE: RIG), ATW Partners, Material Impact, and RCB Equities (collectively, the "Lenders").
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PlainsCapital Bank Welcomes Kaley Lilley to Westlake Lending Group
September 21, 2023PlainsCapital Bank recently announced that Kaley Lilley has joined its Westlake lending group as senior vice president, commercial loan officer with the Bank’s Westlake commercial banking team at 2705 Bee Caves Road.
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North Mill Announces $456 Million Term Securitization
September 21, 2023North Mill Equipment Finance LLC (“NMEF”), a leading independent commercial equipment lender located in Norwalk, Connecticut, announced the closing of its seventh asset-backed securitization (ABS), NMEF Funding 2023-A (“NMEF 2023-A”).
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Kyriba to Provide RBC with Cloud-Based Payables and Receivables Finance Solution as the Bank Expands Supply Chain Finance Offerings for Canadian Enterprises
September 21, 2023Kyriba’s solution will be used by the bank to expand on its ability to provide its Canadian commercial clients with integrated and enhanced working capital solutions
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