- J D Factors Provides $14.7 Million in New Factoring Facilities in May
- Rosenthal Capital Group Closes Three Transactions Across ABL Equipment Finance And Recourse Factoring Divisions, Totaling $20 Million
- Access Capital Supports Coneybeare’s Next Chapter of Growth
- Silver Point Leads $500 Million Term Loan Financing Supporting Acquisition of KUBRA by REPAY
- Searles Valley Minerals Initiates Court-Supervised Sale of its Critical Minerals Platform
TSL Express Daily Articles & News
To submit company news and press releases toTSL Express, email tslexpress@sfnet.com.
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Rosenthal Completes 11 Transactions Totaling $35 Million During Summer 2022, Supporting Clients From Multiple Industries
Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending, purchase order financing, d2c and e-commerce inventory financing firm in the United States, today announced the completion of nearly a dozen transactions totaling roughly $35 million during the summer months of 2022. The various financing facilities will help to address working capital needs, mitigate risk and support growth opportunities for clients across a multitude of sectors.
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What challenges have industry executives been up against since the pandemic hit and what kind of future do they envision for the industry? TSL spoke with several SFNet members: Jason Hoefler, managing director/asset-based lending, BMO Harris Bank; Candice Hubert, senior vice president of business development, Republic Business Credit; Mark Polinsky, executive vice president and co-founder of Gateway Trade Funding; Georgia Quenby, partner, Morgan Lewis & Bockius; Stuart Rosenthal of Prestige Capital; and Dan Tortoriello, executive vice president/chief operating officer of North Mill Capital.
TSL Express Daily Headlines & News
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Wastequip Extends Senior Secured Revolving Credit Facility
December 19, 2022Wastequip, the leading North American manufacturer of waste handling equipment, today announced it has successfully completed an amendment and extension of its senior secured revolving credit facility. As a result of the transaction, Wastequip's revolving lenders have agreed to extend the maturity of commitments totaling $45 million by 18 months to September 20, 2024.
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CE Brands Enters Into Financing Arrangement for a $12 Million Secured Credit Facility and Appoints new CFO
December 19, 2022CE Brands Inc. (TSXV: CEBI; CEBI.WT) (“CE Brands”, “we”, “our”, or the “Company”), a data-driven consumer-electronics company, today announced that it has entered into a binding financing arrangement with Vesta Wealth Partners Ltd. (“Vesta”), pursuant to which Vesta will provide a secured revolving credit facility of up to CA$12,000,000 (or US dollar equivalent) to the Company (the “Credit Facility”) to be used for the working capital needs of the Company.
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SLR Digital Finance Closes $5 Million Credit Facility for Audigent, the leading Data Curation Platform
December 19, 2022SLR Digital Finance LLC (“SLR Digital Finance”) announces the funding of a $5 million credit facility for Audigent, the leading data activation, curation and identity platform for the media industry. Audigent’s next-generation curated marketplaces – SmartPMPs™, ContextualPMPs™, and CognitivePMPs™ – are revolutionizing how data and identity are actioned across programmatic media channels.
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Wells Fargo Introduces Emerging Middle Market Offering to Metro NY/NJ Area
December 19, 2022Wells Fargo & Co. launched a new segment in the region to serve businesses in the $10 million to $75 million range. The San Francisco-based financial services company announced the launch of its emerging middle market segment within its Metro NY/NJ commercial team Dec. 15, along with leaders for each of the neighboring states.
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First Business Bank’s Asset-Based Lending Group Funds $9.2 Million Credit Facility
December 19, 2022Mike Colloton, Vice President II – Asset-Based Lending at First Business Specialty Finance, LLC, a subsidiary of First Business Bank, announces a recently closed and funded $9.2 million revolving line of credit, equipment term loan, and structured overadvance for the acquisition of a manufacturer of home building supplies.
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MidCap Financial Closes Senior Secured Credit Facility to Mervin Manufacturing
December 19, 2022MidCap Financial (“MidCap”), a leading commercial finance company focused on middle market transactions, announced this week it has provided a $10 million revolving line of credit and $5 million senior secured term loan to Mervin Manufacturing, Inc. (“Mervin”).
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DSD Closes $155 Million Financing for First-of-its-Kind ABS with Community Solar
December 19, 2022DSD Renewables (DSD) has raised $155 million in debt financing for the first commercial and industrial (C&I) solar asset-backed securitization (ABS) with a significant concentration of community solar assets. The transaction, which is DSD’s first issuance of asset-backed securities, was structured and underwritten by Credit Suisse Securities (USA) LLC.
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AustralianSuper and Churchill Asset Management announce new lending partnership
December 19, 2022AustralianSuper, Australia's largest superannuation (pension) fund, today announced a new partnership with Churchill Asset Management ('Churchill'), with an initial instalment of US$250 million, intended to grow substantially over time. The partnership will invest in traditional senior and unitranche loans to private equity-backed U.S. middle market companies.
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TD Bank Names Sheryl McQuade to Lead New England Metro
December 19, 2022TD Bank, America's Most Convenient Bank®, announced today that it has named Sheryl L. McQuade as the Regional President of its New England Metro. In this role, McQuade will lead TD Bank’s New England consumer and small business, commercial, and middle-market banking and lending services throughout a network of approximately 310 stores and nearly 2,900 employees in the greater New England region.
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Bridge Bank Provides Xeal $10 Million Line of Credit to Support Continued Development of Self-Reliant EV Charging Network
December 19, 2022Bridge Bank today announced it closed a $10 million line of credit, back in October, to fuel the growth of Xeal, a technology company that’s making electric vehicle (EV) charging more reliable and accessible for building developers and owners in addition to EV owners.
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CIBC Asset Management Expands Strategic Relationship with Ares Management to Include Private Credit Français
December 19, 2022CIBC (TSX: CM) (NYSE: CM) Asset Management today announced that it is expanding its strategic relationship with Ares Management Corporation ("Ares") (NYSE: ARES) to add strategies that invest in global private credit markets. Ares is currently the sub-advisor to the Renaissance Floating Rate Income Fund.
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CIBC Innovation Banking Leads $45 Million Syndicated Debt Facility for Azalea Health
December 19, 2022CIBC Innovation Banking is pleased to announce the lead arrangement of a $45 million syndicated debt financing for Atlanta-based Azalea Health, a leading provider of electronic health records and revenue cycle management for community-based healthcare providers.
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B. Riley Financial Issues Open Letter to Core Scientific Investors
December 19, 2022B. Riley Financial, Inc. (NASDAQ: RILY) ("B. Riley"), a diversified financial services platform which is one of the largest creditors of Core Scientific, Inc. (NASDAQ: CORZ) ("Core Scientific" or "the Company"), today issued an open letter to Core Scientific shareholders and lenders.
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Aziyo Biologics Announces Funding of Additional $4 Million Term Loan with SWK Holdings Corporation
December 16, 2022Aziyo Biologics, Inc. (Nasdaq: AZYO) (“Aziyo”), a biologics company with a portfolio of regenerative products aimed at improving compatibility between medical devices and the patients they treat, today announced that it has received an additional $4 million term loan from SWK Holdings Corporation, a healthcare-focused investment firm.
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Kindred Utilizes Extension Option of Revolving Credit Facility Agreement and Broadens Group of Lenders
December 15, 2022Kindred utilises the one-year extension option of the revolving facility agreement previously signed in November 2021 and thereby extends the existing financing until November 2025. The total committed facilities will also be increased by EUR 40 million by utilising the accordion feature and at the same time the group of lenders will be broadened.
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Lendbuzz Secures $135 Million Credit Facility from Regions Bank to Expand Dealership Floor Planning and Consumer Loan Originations
December 15, 2022Lendbuzz, the AI-based fintech company that is revolutionizing the auto finance market, announced today that it closed a $135 million credit facility with Regions Bank. Lendbuzz intends to use the funds to fuel the continued growth of its dealership floor planning portfolio—which doubled with the recent acquisition of Shamrock Finance—and to increase the number of borrowers its proprietary, AI based auto finance platform serves.
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BillionToOne Announces $48.5M Additional Capital Raise and $35M Upsized Term Loan Facility, Demonstrating Investor and Lender Confidence in the Company's Rapid Growth
December 15, 2022BillionToOne, Inc., a molecular diagnostics company with a mission to create powerful and accurate tests that are accessible to all, announces it has secured an additional $48.5 million of funding from existing equity investors as well as upsized its Term Loan Facility with access to up to $35 million, with its existing lender, Bridge Bank.
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Winston & Strawn Represents NTG, LLC
December 15, 2022Winston & Strawn represented NTG, LLC, the franchisor of the Nick the Greek (NTG) restaurant chain, in the sale of its controlling interest to Anil Yadav’s YTG Enterprises LLC (YTG). The founding management team will continue running NTG and retain a substantial minority stake in the current 48 franchise units in operation and approximately 70 units in the development pipeline.
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GemCap Provides $7MM, Working Capital Line, to Solstice Sunglasses
December 15, 2022GemCap Solutions (“GemCap”), a leading non-bank capital lender providing working capital solutions, today announced that it had provided a $7MM line of credit to Solstice Sunglasses (“Solstice”), the second largest sunglass retailer in the United States.
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VSS Capital Partners Closes VSS SC Fund IV At Hard Cap of $530 Million
December 15, 2022VSS Capital Partners (“VSS”), a private investment firm that targets the healthcare, education, and business services industries, today announced the successful final close of VSS Structured Capital Fund IV (“VSS SC IV”) at $530 million, exceeding its target of $400 million. The fund received strong support from existing as well as new institutional investors, including insurers, pensions, asset managers, foundations, endowments and select family offices.
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