- Nautilus Solar Energy Closes $600 Million Debt Facility, Accelerating Community Solar Growth
- Haversine Funding Announces Recent Lender Finance Closings and Facility Expansions
- Beacon Bank and Baker Hill Expand Long-Standing Partnership to Enhance Digital Small Business and SBA Lending Experiences
- SixCap Healthcare Finance Closes $3 Million Asset-Based Lending Facility for Kansas Skilled Nursing Portfolio
- Rosenthal Capital Group Closes Three Transactions Across ABL Equipment Finance And Recourse Factoring Divisions, Totaling $20 Million
TSL Express Daily Articles & News
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Ares Commercial Finance Provides $30 Million Senior Secured Credit Facility to Monolith Brands Group, Inc.
Ares Commercial Finance announced today that it has provided a $30 million senior secured credit facility to Monolith Brands Group, Inc. (“the Company”). The Company is a consumer products platform focused on acquiring omnichannel brands in niche product categories. Proceeds of the credit facility will be used to refinance existing indebtedness, provide ongoing working capital and help fund future acquisitions.
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Two months ago we discussed the questions that lenders should be asking their borrowers as borrowers were beginning to finalize their June 30, 2020 results and report the initial impact of the Covid shutdown and the CARES Act program funds. With the end of August around the corner, the second quarter results and even July 2020 results are available.
It is time to consider updating and expanding discussions with borrowers looking toward the remainder of 2020.
The outline of questions is a guideline to facilitate a discussion focused on the thought processes the business is going through and the financial impact over the past few months and into the future. Open ended questions that encourage a discussion are the most important tools lenders can use to understand their borrowers and the impact of the Covid-19 situation.
TSL Express Daily Headlines & News
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B. Riley Securities Served as Sell Side Advisor to Evans Manufacturing in Connection with its Acquisition by HPG
January 12, 2023B. Riley Securities, Inc., a leading full-service investment bank, was pleased to serve as exclusive financial advisor to Evans Manufacturing, a leading supplier to the promotional products industry, in connection with its acquisition by HPG. The partnership brings new North American manufacturing capabilities into the HPG portfolio, with the addition of Evans’ facilities in Southern California and Nogales, Mexico.
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Monroe Capital Supports Kingsley Gate Partners’ Acquisition of The Omerta Group
January 12, 2023Monroe Capital LLC announced it acted as administrative agent and sole lead arranger on the funding of a senior credit facility to support the acquisition of The Omerta Group by Kingsley Gate Partners, an existing portfolio company of Crescent Cove Private Equity.
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FrontWell Capital Partners Provides CAD 25 Million Senior Secured Credit Facility to Mara Technologies
January 11, 2023FrontWell Capital Partners Inc. (“FrontWell”) today announced the closing of a CAD 25 million secured credit facility with Mara Technologies Inc. and Mara Technologies USA Inc. (“Mara”), a manufacturer of electronic boards and assemblies focused in infrastructure, broad band communications and power management systems. Mara is a subsidiary of the Invotek Group, a global leader in electronics manufacturing services based in Markham, Ontario.
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Bed Bath & Beyond Taps new Restructuring Adviser as Bankruptcy Looms
January 11, 2023Bed Bath & Beyond Inc. has brought on turnaround consultant AlixPartners as its new restructuring adviser as the troubled home goods retailer prepares for a likely bankruptcy, according to sources familiar with the matter. The company has also been working with law firm Kirkland & Ellis LLP and investment banker Lazard Ltd. on restructuring efforts and last week said it is considering all options, including a bankruptcy filing, to battle its declining cash and dropping revenue.
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KKR Commits to Invest an Additional $1.15 Billion in Aircraft Leasing with Altavair
January 11, 2023KKR, a leading global investment firm, and Altavair L.P., a leader in commercial aviation finance, today announced that KKR is making an additional $1.15 billion commitment to expand its global portfolio of leased commercial aircraft in partnership with Altavair. The investment will come from KKR’s credit and infrastructure funds.
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Alleon Healthcare Capital Provides a $7,000,000 Medical Accounts Receivable Financing Facility to a Florida-based ABA Therapy Provider
January 11, 2023Alleon Healthcare Capital (“Alleon”), a specialty finance company focused on providing healthcare accounts receivable financing, medical accounts receivable factoring, and cash flow solutions to medical providers in the U.S., recently closed a $7,000,000 medical accounts receivable financing facility with a behavioral therapy treatment center based in Florida (“Company”).
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Monroe Capital Supports Argano’s Acquisition of ITK Solutions Group, LLC
January 11, 2023Monroe Capital LLC announced it acted as administrative agent and sole lead arranger on the funding of a senior credit facility to support the acquisition of ITK Solutions Group LLC (“ITK”) by Argano, an existing portfolio company of Trinity Hunt Partners.
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Golub Capital BDC, Inc. Announces $247.0 Million In New Middle-Market Originations for its Fiscal Year 2023 First Quarter
January 11, 2023Golub Capital BDC, Inc. ("GBDC") (Nasdaq: GBDC, www.golubcapitalbdc.com), a business development company, today announced that it originated $247.0 million in new middle-market investment commitments during the three months ended December 31, 2022. Approximately 93% of the new middle-market investment commitments were one stop loans, 3% were senior secured loans and 4% were equity and other securities. Of the new middle-market investment commitments, $216.5 million funded at close.
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Antares Capital Taps Seth Katzenstein as Managing Director to Build Out Firm’s Broadly Syndicated Loan Business
January 11, 2023Antares Capital (“Antares”) announced today that Seth Katzenstein has joined the firm as Managing Director and Head of Broadly Syndicated Loans to build the firm’s broadly syndicated loan (“BSL”) business. Mr. Katzenstein will be based in New York and report to Vivek Mathew, Head of Asset Management.
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Cresset Partners Has Launched Evergreen Private Credit Fund
January 11, 2023Cresset Partners has launched the Cresset Partners Private Credit Fund, LLC (the "Fund"). The Fund invests in a diversified portfolio of private senior secured loans, among other private credit opportunities, with the objective of delivering consistent income and strong downside management.
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AlixPartners Promotes six to Partner & Managing Director in Europe
January 11, 2023In the United Kingdom – AlixPartners’s largest office in Europe – four members have been promoted to partner & managing director: Anna Del Mar, Clive de Silva, Steve Braude, and Peter Oppitzhauser. Meanwhile, Marcello Bellitto and Tim Thiele have been admitted into the rank in Italy and Germany, respectively. “Each of our new leaders has delivered an exceptional impact and contribution to our clients and the firm. I wish them every success in this new chapter of their careers at AlixPartners,” said Simon Freakley, CEO of AlixPartners.
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Citizens M&A Outlook Optimistic Despite Headwinds
January 11, 2023Citizens’ 2023 M&A Outlook revealed both upbeat expectations for company performance and high desire for growth in a low-growth world in the coming year. The annual survey of 400 leaders at U.S. middle-market companies and private equity firms also indicated that buyer and seller sentiment about mergers and acquisitions will return to pre-pandemic norms as the macroeconomic backdrop stabilizes.
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Spouting Rock Asset Management Acquires Ownership In Reinhart Partners
January 11, 2023Spouting Rock Asset Management, LLC (Spouting Rock), a multi-boutique manager platform providing investment solutions and services, today announced it has entered into a definitive agreement to acquire a majority position of Reinhart Partners, Inc. (Reinhart), in a multi-step transaction over a period of two years. Reinhart is an investment management firm that services institutions and high-net-worth individuals.
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Columbia Banking System and Umpqua Holdings Corporation Announce FDIC Approval and Expected Closing Timeline for Combination
January 11, 2023Columbia Banking System, Inc. ("Columbia") (NASDAQ: COLB), the parent company of Columbia Bank, and Umpqua Holdings Corporation ("Umpqua") (NASDAQ: UMPQ), the parent company of Umpqua Bank, jointly announced that the Federal Deposit Insurance Corporation (the "FDIC") has approved the previously announced combination of the two companies. The FDIC approval was the final outstanding regulatory approval necessary to complete the combination.
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Stellus Capital Management, LLC Provides Unitranche Financing in Support of QHP Capital, L.P.'s Investment in COPILOT Provider Support Services, LLC
January 11, 2023Stellus Capital Management, LLC (“Stellus”), a leader in middle market direct lending, announced today that its affiliates provided senior debt financing and an equity co-investment to support QHP Capital, L.P.’s (“QHP”) investment in COPILOT Provider Support Services, LLC (“COPILOT” or the “Company”).
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SLR Healthcare ABL Provides Financing for a Skilled Nursing Facility
January 11, 2023SLR Healthcare ABL is pleased to announce that it has provided a $4 million asset-based revolving line of credit to a skilled nursing facility in December 2022.
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Abacus Finance Provides Senior Debt Financing to Support the Recapitalization of ROX360 by Fort Point Capital
January 11, 2023Abacus Finance Group, LLC – a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of companies with $3 million to $15 million in EBITDA – today announced that it served as Senior Secured Credit Facilities Administrative Agent and Lead Arranger for senior secured credit facilities to support the leveraged recapitalization of ROX360 by Fort Point Capital. Additionally, Abacus made an equity co-investment in ROX360.
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Rockland Trust Company and Independent Bank Corp. Appoint Jeffrey J. Tengel as Chief Executive Officer
January 10, 2023Rockland Trust Company and its bank holding company parent Independent Bank Corp. (NASDAQ Global Select Market: INDB) today announced the appointment of Jeffrey J. Tengel as the successor to current Chief Executive Officer, Christopher Oddleifson, effective on or about February 6, 2023.
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Culain Capital Funding Closes $1,000,000 for Specialty Maintenance Staffing Company
January 10, 2023Culain Capital Funding LLC, a specialty finance firm focusing on responsive and efficient funding solutions for small and medium sized business in the United States announces the completion of a $1,000,000 Accounts Receivable Factoring Facility with a startup Specialty Maintenance Staffing Company based in Texas.
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BHI Provides $80 Million Construction Financing for New Gramercy Park Condo At 200 E. 20 Street
January 10, 2023BHI, a full-service commercial bank, announced that it has provided an $80 million construction loan to 200 East 20th St LLC. Owned by the Tidhar Group affiliate, the 200 East project is a development of a new condominium building located at 20th Street and Third Avenue in the Gramercy Park neighborhood of Manhattan.
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