- New Era Energy & Digital Closes Multi-Tranche $290 Million Senior Secured Term Loan Credit Facility with Macquarie Group to Finance Texas Critical Data Center Flagship Project
- OceanFirst Financial Corp. and Flushing Financial Corporation Announce Receipt of the Requisite Shareholder Approvals for Pending Merger Transaction
- Mattr Announces Closing of Credit Facility Extension
- NXT Capital Closes Senior Credit Facility in Support of CenterOak Partners’ Acquisition of Grismer Tire & Auto Service
- Conduit Power and Eldridge Announce $200 Million Equipment Financing Facility
TSL Express Daily Articles & News
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SLR Digital Finance Closes $40 Million ABL Facility for Leading Healthcare AdTech Company DeepIntent
SLR Digital Finance LLC (“SLR Digital Finance”) announces the funding of an asset-based revolving credit facility for DeepIntent. The facility consists of a $40MM revolver with a sublimit for unbilled receivables.
As one of the pioneers in advertising technology for healthcare marketers, DeepIntent and its 220+ dedicated employees across four different countries have built a robust healthcare advertising platform that empowers marketers to plan, activate, and optimize their digital ad campaigns on a single platform.
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Financial analysis is a cornerstone for any credit administration function. Each loan officer must know his or her borrowers and thorough financial analysis is the best way to start.
The goal of financial analysis is to link business events to changes in the balance sheet, income statement and cash flow to explain the company’s performance during the period under analysis. Without this linkage you end up with “elevator analysis” (sales are up, AR is up, EBITDA is down, etc.) and no meaningful understanding of the company’s performance.
Where do you start? EBITDA is often a starting point for many people. Why? It is a standard measure of performance in the banking and finance industry. EBITDA is a measure of the profitability generated by a business before interest expense, tax expense and depreciation and amortization expense. While this gives the analyst a place to start and some ability to compare to comparable companies, EBITDA should not be viewed as a proxy for cash generation ability.
TSL Express Daily Headlines & News
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Tradecycle Capital Delivers Three New Accounts Payable Finance Facilities in December
January 9, 2023Tradecycle Capital, an Indianapolis-based trade finance provider, announced it funded three new revolving accounts payable funding facilities in December. The facilities were: a $4 million limit to a privately-owned manufacturer of specialty beverage dispensers; a $6 million limit for a family and private equity owned manufacturer of specialty equipment and a $3 million limit for a private equity owned company providing installation and repair of residential and commercial roofing systems
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Heritage Bank Appoints New Executive Vice Presidents and Announces the Retirement of Cindy Hirman, Executive Vice President, Chief Banking Officer
January 9, 2023eritage Bank ("Heritage" or "Bank"), a wholly-owned subsidiary of Heritage Financial Corporation (Nasdaq: HFWA), is pleased to announce the appointment of Matt Ray as Executive Vice President Chief Lending Officer, Amy Curran as Executive Vice President Director of Commercial Banking, Kelli Wilson as Executive Vice President Chief Banking Officer and Sabrina Robison as Executive Vice President Chief Human Resources Officer. Robison assumed her new executive title in September 2022, while Ray, Curran and Wilson assumed their new executive roles on January 1, 2023. Wilson will succeed Cindy Hirman who is scheduled to retire in April 2023.
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Sound Point Capital Provides Financing to Support Salute Mission Critical’s Acquisition of Iconicx
January 9, 2023Sound Point Capital Management (“Sound Point”) is pleased to announce that it acted as Administrative Agent and sole lender on a first lien senior secured credit facility to Salute Mission Critical (“Salute” or the “Company”) for its acquisition of Iconicx Critical Solutions (“Iconicx”).
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FTI Capital Advisors Enhances Healthcare M&A Expertise with the Addition of Three Senior Professionals
January 9, 2023FTI Consulting, Inc. (NYSE: FCN) today announced the continued expansion of FTI Capital Advisors (member FINRA/SIPC), the firm’s wholly owned investment banking subsidiary, with the addition of Rod Rivera as a Senior Managing Director and David Baker and Roger Kahn as Managing Directors.
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Churchill Closes $737 Million Junior Capital Opportunities Fund II, Exceeding $500 Million Target
January 9, 2023Churchill Asset Management LLC, an investment-specialist of Nuveen, today announced that it has completed fundraising for Churchill Junior Capital Opportunities Fund II (the “Fund”) with $737 million of limited partner commitments, exceeding its original target of $500 million and well above the size of its $300 million predecessor fund.
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Individual Chapter 13 Filings Increase 32 Percent in Calendar Year 2022
January 9, 2023Commercial Chapter 11 filings increased 2 percent to 3,816 in calendar year 2022 from the previous year’s total of 3,726. Subchapter V elections within Chapter 11 also experienced an increase in calendar year 2022, as the 1,433 filings represented a 13 percent jump from the 1,263 filings recorded in 2021.
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Amerisource Closes $1,000,000 Bridge Loan for Renewable Energy Services Firm
January 9, 2023Amerisource Business Capital announced the closing and funding of a $1,000,000 bridge loan facility for a Texas-based renewable energy services firm. The proceeds were used to support the company’s growth and working capital needs.
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JPMorgan Chase Survey: Most Businesses Expect Recession in 2023
January 9, 2023The majority of small and midsize U.S. business leaders anticipate a recession in 2023, according to JPMorgan Chase’s 2023 annual Business Leaders Outlook survey released today. In total, 65% of midsize businesses and 61% of small businesses expect a recession in the year ahead.
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J D Factors Announces Factoring Facilities
January 5, 2023J D Factors announced it provided the following factoring facilities: $250,000 to a transportation company in California; $120,000 to a transportation company in Ohio; $100,000 to a transportation company in Alberta; $200,000 to a transportation company in Illinois.
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Gridiron Capital Completes Partnership with Esquire Deposition Solutions
January 5, 2023Gridiron Capital, LLC (“Gridiron Capital”), an investment firm focused on partnering with founders, entrepreneurs, and management teams, today announced that it has completed its investment in Esquire Deposition Solutions (“Esquire” or the “Company”), a leading national provider of remote and in-person court reporting, video, and interpreting services for corporate and law firm clients.
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Schulte Roth & Zabel Advises Lovell Minnick Partners and National Auto Care in Sale to APCO Holdings, LLC
January 5, 2023Schulte Roth & Zabel LLP advised Lovell Minnick Partners (LMP) and National Auto Care (NAC) in connection with the sale of NAC to APCO Holdings, LLC (APCO), a portfolio company of Ontario Teachers' Pension Plan. LMP is a private equity firm focused on investments in financial services, financial technology, and related business services.
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Alvarez & Marsal Expands its Valuation Services Practice With Three New Senior Directors
January 5, 2023Leading global professional services firm Alvarez & Marsal (A&M) has announced the appointments of Senior Directors Timothy Byhre in Chicago and Garrett Sussman and Matthew Bohlin in New York to the Valuation Services practice (VS).
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Prominent Banking Partners Join Latham & Watkins in New York
January 5, 2023Latham & Watkins LLP1 is pleased to announce that Corey Wright and Lisa Collier have joined the firm's New York office as partners in the Banking Practice. Both partners represent banks and other financial institutions in a broad range of complex leveraged finance transactions, including high-yield bond, debt and equity offerings, asset-based lending transactions, acquisition financings, and other bank loan financings.
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Brightwood Capital Advisors Provides Debt Financing to Morgan Stanley Capital Partners’ Impact Fitness
January 5, 2023Brightwood Capital Advisors (“Brightwood”), a middle market private credit firm, announced that it has provided debt financing to support the continued growth and expansion of Impact Fitness (“Impact” or the “Company”), a portfolio company of Morgan Stanley Capital Partners (“MSCP”).
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Amerisource Closes $3,000,000 Working Capital Facility For Manufacturer
January 5, 2023Amerisource Business Capital announced the closing and funding of a $3,000,000 working capital facility for a Maryland-based manufacturer of hermetic packages, microelectronic housings, and assemblies. The proceeds were used to support the company’s growth and working capital needs.
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Sallyport Commercial Finance Provides $850,000 for a Project Management Business
January 4, 2023In a deal that closed in 2022 for Sallyport Commercial Finance, a US project management business has been equipped with an $850,000 accounts receivable facility. Referred to Sallyport by its contact in investment banking, the company has some tremendous growth opportunities. They anticipate more than doubling their employees from 27 to 60 this year. Each employee generates revenue for the business but has to be paid before they generate any revenue for the company, and this poses an obvious cashflow challenge.
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Crown Partners Arranges $75 Million Senior Debt Facility for HOP Energy
January 4, 2023Crown Partners LP announced that HOP Energy, LLC, (“HOP”), a portfolio company of Delos Capital, has closed on a $75 million senior debt facility. Crown Partners served as exclusive financial advisor to HOP in connection with this transaction. Headquartered in White Plains, NY, HOP is a market‐leading home services provider, delivering heating distillates and performing installation and services of HVAC, heat pumps and other critical home systems.
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MidCap Financial Closes $150mm Senior Revolving Credit Facility to Trusted
January 4, 2023MidCap Financial, a leading commercial finance company focused on middle market transactions, today announced it has provided a $150mm senior revolving credit facility to Trusted MidCo, LLC (“Trusted,” “Trusted Health,” or “Company”). The MidCap Financial credit facility includes an uncommitted option to increase the total facility size to up to $239mm. Proceeds from the MidCap Financial credit facility were used to refinance the Company’s prior credit facility and to provide for the business’ ongoing working capital needs.
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eCapital Wins Bronze in 12th Annual Best in Biz Awards
January 4, 2023eCapital Corp. (“eCapital”), a leading finance provider for businesses across North America and the U.K., today announced that CEO Marius Silvasan was named a Best in Biz Awards bronze winner in the Executive of the Year – Medium Companies category. The Best in Biz Awards are the only independent business awards program judged each year by prominent editors and reporters from top-tier publications in North America.
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United Capital Funding Provides $17.56 Million Facility, AR Management in Q4 2022
January 4, 2023“Small businesses are the lifeblood of the U.S. economy: they create most net new jobs and drive U.S. innovation and competitiveness. As we close 2022 and start 2023, I’m incredibly pleased about our new business momentum by helping so many small businesses located throughout the country with an alternative source of financing when it’s most needed,” said Nicholas Pittas, National Sales Manager of United Capital Funding.
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