- SG Credit and Wingspire Expand Skylight Credit Facility to $75 Million
- Gridiron Welcomes Two Vice Presidents Across Investment and Digital Growth Teams
- Ares Strengthens Commitment to Plenitude Through €1 Billion Capital Contribution
- Trafigura Secures USD4.4 Billion Syndicated Revolving Credit Facility and Term Loan Facilities
- SFNet Market Pulse
TSL Express Daily Articles & News
To submit company news and press releases to TSL Express, email tslexpress@sfnet.com.Today's Top Story
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Wintrust Business Credit Announces National Expansion
Wintrust Business Credit (WBC), the asset-based lending (ABL) unit of Wintrust Commercial Banking, today announced plans to expand its geographic reach from a regional provider to a national ABL platform.
Since its founding in 2008, WBC has provided best-in-class asset-based lending solutions with a focus on middle-market businesses in the Wintrust footprint.
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TSL: Congrats on your 10-year anniversary! Scott, what would you say are the biggest changes Gibraltar Business Capital has undergone over these last 10 years?
Scott Winicour: Thanks! It’s been a wild ride these last ten years, but probably the biggest change is when I bought the company from my father ten years ago with the help of private equity. It was a very small, regional player in the factoring space that did average-sized deals of $50,000 to $250,000. One of the biggest changes today is we don’t really do any factoring anymore, and that’s because we’ve morphed into an asset-based lender as opposed to a more traditional factor. Another big change is that we now have a nationwide presence. So, we went from a small, localized factoring-only business to a national brand name that people know, with salespeople all across the country. That is, by far, the biggest change.
TSL Express Daily Headlines & News
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Republic Business Credit Provides $5 Million Ledgered Line of Credit for Oil Field Service Distributor
April 3, 2023When the COVID-19 pandemic slowed sales and disrupted supply chains for a Midwest supplier of pipes, valves and oil transmission products and services, the company and its private equity partner needed a flexible solution. Republic Business Credit provided a $5 million factoring facility with options to offer the best fit. The private equity fund and the supplier chose Republic’s ledgered line of credit that features the pricing structure of an ABL facility.
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Assembled Brands Closes $18 Million in Deals in Q1 2023
April 3, 2023Through flexible lines of credit, the lender is supporting emerging consumer goods brands from various industries by addressing working capital needs. The funds support growth opportunities, improve inventory positions and relieve some of the capital constraints many businesses face in a tumultuous market this year.
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Flowers Joins CohnReznick as ERP Principal
April 3, 2023CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that Shawn Flowers has joined the firm as a Principal in its Technology+ practice. Flowers has extensive experience developing, deploying, and managing all facets of enterprise resource planning (ERP) systems across multiple industries including manufacturing, wholesale distribution, pharmaceuticals, software, and financial services.
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Jerry Huynh Joins First Business Bank As Managing Director Of SBA Lending
April 3, 2023First Business Bank is pleased to welcome Jerry Huynh as Managing Director - SBA Lending. With nearly 30 years of experience in helping businesses accomplish their goals through commercial and SBA Lending, Jerry Huynh (pronounced “Win”) brings extensive knowledge and significant expertise to First Business Bank’s relationship-focused SBA Lending team.
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Perseus Upsizes Corporate Debt Facility to US$300 Million
April 3, 2023Perth, Western Australia/April 3, 2023/African focused gold producer Perseus Mining Limited (ASX/TSX:PRU) is pleased to announce it has refinanced its existing syndicated debt facility to a US$300 million revolving corporate facility.
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Ventas Announces Plans to Take Ownership of Full Collateral Pool Supporting its $486 Million Santerre Mezzanine Loan
April 3, 2023Ventas, Inc. (NYSE: VTR) (“Ventas” or the “Company”) today announced that it intends to take ownership of the collateral that supports its approximately $486 million cash-pay mezzanine loan to Santerre Health Investors (the “Santerre Mezzanine Loan”).
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Boxed, Inc. to Execute Sale of Spresso Software Business Through Voluntary Chapter 11 Process
April 3, 2023Boxed, Inc. (“Boxed” or the “Company”), an e-commerce technology company that provides bulk pantry consumables to business and household customers, announced today that it, and all of its subsidiaries, initiated voluntary proceedings under Chapter 11 of the U.S. Bankruptcy Code to execute a sale of its Spresso software business to its first lien secured lenders while continuing to streamline operations, including an efficient and orderly wind-down of its remaining retail business.
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CrossAmerica Partners Enters into a New $925 Million Credit Facility
April 3, 2023CrossAmerica Partners LP (NYSE: CAPL) today announced that it entered into an amended and restated five-year Revolving Credit Facility agreement with a syndicate of lenders led by Citizens Bank, N.A. (the “Amended Facility”). The Amended Facility provides borrowing capacity up to $925 million, an increase from the previous revolving credit facility capacity of $750 million.
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JLEN Environmental Assets Group Limited Announces Extension of Revolving Credit Facility
April 3, 2023Lenders to the facility include four of the five existing lenders (HSBC, ING, National Australia Bank, Royal Bank of Scotland) plus one new lender (Clydesdale Bank).
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Rosenberg & Fecci Consulting, LLC Announces That Julia Voytovych has been Admitted to the LLC as a Partner
April 3, 2023Rosenberg & Fecci Consulting, LLC is pleased to announce that Julia Voytovych has been admitted to the LLC as a partner. Julia started as an Analyst with Rosenberg and Fecci 13 years ago and has steadily been promoted to achieve her current role as a Manager.
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AEC Capital Partners Announce a National Strategic Partnership
April 3, 2023AEC Capital Partners, a seasoned provider, directly and via its affiliates, of equity, debt, and hybrid capital to small- and mid-sized private and publicly traded businesses (“AEC”), is proud to announce a national strategic partnership with a prominent family office located in the Northeastern United States.
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Kroll Expands in South Africa
April 3, 2023Kroll, the leading independent provider of global risk and financial advisory solutions, today announced that it has opened a new office in Johannesburg, delivering its international restructuring expertise to South Africa. The new office is located in the city’s Sandton financial district
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BofA Names Scott Vanderpool President of Phoenix
April 3, 2023Bank of America has named Scott Vanderpool president of Bank of America Phoenix. The company also announced that widely known business leader Benito Almanza plans to retire April 6 after 45 years of service with the company and 22 years as Phoenix and Arizona president.
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Private Equity Wire Names CohnReznick Best Audit Firm – Middle Market in Emerging Managers Awards
April 3, 2023CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that it has been recognized by Private Equity Wire as the Best Audit Firm – Middle Market in the publication’s 2023 US Emerging Manager Awards program. Award winners were announced during a ceremony and networking event held in New York on March 30, 2023.
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Patriot Bank Announces Promotion of Chief Lending Officer to President & CEO
April 3, 2023Patriot National Bancorp, Inc. (“Patriot,” “Bancorp” or the “Company”) (NASDAQ: PNBK), the parent company of Patriot Bank, N.A. (the “Bank”), today announced the promotion of David Lowery to become President and CEO of the Bank, succeeding Robert Russell.
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Goodness Growth Holdings Announces Amended Credit Facility and Governance Updates
April 3, 2023Goodness Growth Holdings, Inc. ("Goodness Growth" or the "Company") (CSE: GDNS; OTCQX: GDNSF), a cannabis company committed to providing safe access, quality products and great value to its customers, today announced that it has executed a fifth amendment to its credit facility with its senior secured lender, Green Ivy, an affiliate of Chicago Atlantic.
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Bed Bath & Beyond Inc. Enters into Committed Equity Facility for Additional Funding
April 3, 2023Bed Bath & Beyond Inc. (Nasdaq: BBBY) (the "Company") announced today that concurrent with a new, At-The-Market offering program ("ATM Program") launched earlier today, the Company has also entered into a common stock purchase agreement and a registration rights agreement (collectively, "Committed Equity Facility") with B. Riley Principal Capital II, LLC ("BRPC") to provide additional capital to the Company.
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Celtic Capital Corporation Provides $2 Million for Dry Blended Food Products Company
April 3, 2023Management approached Celtic Capital for working capital to fund that growth. We provided a $1,500,000 accounts receivable line of credit and a $500,000 inventory line of credit to meet the Company’s request.
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Sweet Leaf Madison Capital Secures $100 Million Financing Facility
March 31, 2023Sweet Leaf Madison Capital (“SLMC” or “Sweet Leaf Madison”), a nationwide provider of tailored debt financing solutions in real estate, equipment and senior secured working capital for the compliant middle-market cannabis industry, today announced the closing of a new $100MM debt facility. A prominent New York-based global institutional special situations asset manager will be providing $100MM of financing, making SLMC one of the best-financed asset-based lenders to small- and medium-sized enterprises in the cannabis industry.
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FitFlop Secures $30 Million to Fund Long-Term Growth Plans
March 30, 2023FitFlop said on Thursday that it secured a new five-year $30 million revolving credit facility from Aurelius Finance Company to support its long-term growth ambitions. According to the footwear brand, the funding will go towards supporting an “increased investment” in branding, marketing and advertising.
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