- Beacon Bank and Baker Hill Expand Long-Standing Partnership to Enhance Digital Small Business and SBA Lending Experiences
- CarParts.com Enters Into $25 Million Revolving Credit Facility
- Thompson Coburn Expands Financial Services Litigation Capabilities in New York with Addition of Craig Haughton as Partner
- SFNet Market Pulse
- Market Sizing & Impact Study 2023
TSL Express Daily Articles & News
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California Bank of Commerce Creates New Specialty Banking Division
California Bank of Commerce (CBC) has formed a new division to focus on existing specialty lines of business. The division will look to expand both credit and treasury solutions to the Bank’s commercial markets. Known as CBC Specialty Banking, the division offers a broad asset-based lending platform, CBC Asset Based Lending, ranging from turnarounds to early- and mid-stage companies through acquisitions (both sponsor and non-sponsor). It also includes the Bank’s existing sponsor finance products, now called CBC Sponsor Finance, working with private equity firms, SBICs and direct lenders to leverage cash flow for acquisitions.
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Mac Fowle is the global head of Asset-Based Lending (ABL) for J.P. Morgan Commercial Banking. He is responsible for the end-to-end strategic leadership of the ABL group in supporting the financing needs for clients across Commercial Banking and the Corporate & Investment Bank (CIB).
TSL Express Daily Headlines & News
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Grant Thornton Expands Private Equity Offerings
June 22, 2023Grant Thornton LLP, one of America’s largest audit, tax and advisory firms, is expanding its private equity capabilities by hiring Bill McManus and Alex Arata to lead the firm’s Value Creation Planning services offering.
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SKF Signs EUR 800 Million Multicurrency Revolving Credit Facility
June 22, 2023SKF has successfully signed a EUR 800 million multicurrency revolving credit facility. The facility has a tenor of five years with two one-year extension options, and it will serve as a back-up liquidity facility for general corporate purposes. It refinances SKF's existing and undrawn EUR 500 million syndicated credit facility and a separate EUR 250 million bilateral credit facility, which in aggregate totaled EUR 750 million.
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SMBC Appoints Matthew Grinnell Head of Global Sponsor Coverage
June 22, 2023SMBC Capital Markets, Inc., a member of SMBC Group, today announced the appointment of Matthew Grinnell as Head of Global Sponsor Coverage as the firm continues to grow its Americas Division Corporate Investment Bank.
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Alvarez & Marsal's Global Transaction Advisory Group Appoints Bob Ruckh as a Managing Director
June 22, 2023Leading global professional services firm Alvarez & Marsal (A&M) announced the appointment of Bob Ruckh as a Managing Director in its Global Transaction Advisory Group (TAG). Mr. Ruckh’s hire demonstrates Global TAG’s commitment to driving value across the deal lifecycle by deepening its strategic advisory talent and client-focused teams.
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PFSweb Announces Closing of $25 Million Asset-Based Lending Agreement
June 22, 2023PFSweb, Inc. (NASDAQ: PFSW), a premier eCommerce order fulfillment provider, announced today the closing of a $25 million asset-based secured lending agreement with Texas Capital Bank, the lending affiliate of Texas Capital Bancshares, Inc. (NASDAQ: TCBI).
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Victory Park Capital Announces Launch of Triumph Capital Markets
June 22, 2023Victory Park Capital (“VPC”), a leading global alternative investment firm specializing in private credit, today announced the launch of Triumph Capital Markets (“Triumph”), an affiliate of VPC focused on structured financing and capital markets solutions.
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Golden Pear Upsizes Corporate Note to $67.2 Million
June 22, 2023Golden Pear Funding (Golden Pear), a national leader in pre-settlement legal funding, announced the upsizing to $67.2 million of its existing corporate notes. The incremental capital raise was assigned a BBB rating by a nationally recognized statistical ratings organization (NRSRO) and follows the Company’s successful corporate note issuance announced in January 2022.
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State-of-the-Art Molded-Pulp Packaging Equipment Goes to Auction
June 22, 2023Molded-pulp packaging equipment from global manufacturer Zume is available in a June 29 online auction by host Liquidity Services (NASDAQ: LQDT) and sale partner, Tiger Group.
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SLR Digital Finance Provides a $15 Million Line of Credit to a Broadcast Television and Radio Network Operator
June 21, 2023SLR Digital Finance LLC (“SLR Digital Finance”) is pleased to announce the funding of a $15 million credit facility for a broadcast television, radio station, and digital streaming network operator.
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Northwest Bank Names Jay DesMarteau as Chief Commercial Banking Officer
June 21, 2023Northwest Bank, a full-service financial institution offering a complete line of business and personal banking products, has appointed Jay DesMarteau as senior executive vice president, chief commercial banking officer, effective today. He will provide strategic leadership and operational oversight for all aspects of Northwest’s commercial banking business.
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First Citizens Bank Provides $19.5 Million for Development of Holbrook Logistics Center
June 21, 2023The borrower, an affiliate of Eagle Cliff Real Estate Partners, is building a new 108,000-square-foot distribution center in the Long Island community of Islip. The property is conveniently located near Long Island’s MacArthur Airport, with ready access to both the Long Island Expressway and Sunrise Highway.
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Transom Capital Completes Acquisition of HALO and aden + anais Brands, Expanding into the Premium Baby and Parenting Industry
June 21, 2023Today, Transom Capital Group (“Transom”), a leading operations-focused middle market private equity firm, is pleased to announce the successful completion of its acquisition of Aden & Anais, Inc., a global designer and manufacturer of infant products which are sold under the brands HALO and aden + anais (collectively, the “Company”) via e-Commerce, mass retail, international, hospital/government, DTC, and other channels.
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SLR Equipment Finance Adds to its Underwriting Team With Amanda Sapienza Leach Hire
June 21, 2023Amanda Sapienza Leach joined SLR Equipment Finance as Vice President of the Risk Department. In her new role, Amanda will utilize her prior experience in credit analysis and financial services to help grow SLR Equipment Finance’s evolving financial solutions platform.
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Maple Leaf Foods Amends its Credit Facility
June 21, 2023Maple Leaf Foods Inc. (TSX: MFI), an iconic Canadian-based branded food company, announced today that it has amended its existing sustainability-linked credit facility. The amendments, which include the addition of a $400 million, 1-year term loan tranche, will provide the Company with near-term incremental liquidity and flexibility as it continues to ramp-up production at its three new world-class manufacturing facilities that have come on-line over the last 18 months.
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Hilco Corporate Finance Expands Its Special Situations Investment Banking Practice into Houston with the Addition of Senior Investment Bankers Kyle Herman and Sanjay Marken
June 21, 2023Hilco Corporate Finance (HCF), Hilco Global’s investment banking advisory firm, has named Kyle Herman Senior Managing Director and Sanjay Marken Director. Based in Houston, they will focus their national practice on Special Situations and Restructuring Investment Banking Advisory.
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Entrepreneur Growth Capital LLC Provides $3,000,000 Bridge Loan to New Jersey Distributor
June 21, 2023Entrepreneur Growth Capital LLC (“EGC”) is pleased to announce the closing of a $3 million term loan to a New Jersey distributor of consumer products. The distributor is experiencing a great deal of growth and is expecting a bank line of credit to close in the next six months. EGC provided a six-month bridge, with extensions available if needed, that is collateralized by accounts receivable and inventory.
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Aequum Capital Provides $7.5MM Asset-Based Revolver to Premier Midwest-Based Retailer of Household Appliances
June 21, 2023Aequum Capital is pleased to announce it recently closed a $7,500,000 credit facility to a premier distributor and retailer of small household appliances. The quality line of appliances are sold through national retailers and e-commerce channels.
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SLR Healthcare ABL Provides Financing to Medical Device Company
June 21, 2023SLR Healthcare ABL is pleased to announce that it provided $10 million asset-based revolving line of credit to a medical device company in June 2023.
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Armory Securities, LLC Announces the Assets of Ostrom Mushroom Farms LLC Have Been Acquired by Windmill Farms.
June 21, 2023Armory Securities, LLC is pleased to announce that the assets of Ostrom Mushroom Farms LLC have been acquired by Windmill Farms. Armory served as exclusive financial advisor to the sellers in the transaction. Ostrom has been a leading agricultural producer of fresh, high-quality white, cremini and portobello mushrooms sold primarily to retail customers throughout the U.S. Pacific Northwest, Alaska and Hawaii.
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Qwil and Talent Solutions TAPFIN Partnership Sees Significant Growth in First 18 Months
June 21, 2023In October 2021, Qwil, a fintech solution that provides early payments to staffing firms and managed service providers, and Talent Solutions TAPFIN, a leading managed service provider (MSP) for contingent workforces, launched their partnership creating a technology enabled early-payment solution for staffing firms. In the year-and-a-half since, the partnership expanded through LSQ’s acquisition of Qwil and has resulted in working capital improvement for contingent staffing suppliers.
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