- Fortress Investment Group Leads Senior Secured Credit Facility for H.I.G. Capital’s Acquisition of International Aerospace Coatings
- Innovative Motion Technologies Secures New Credit Facility to Support Continued Growth and M&A Strategy
- TradeCap Partners Provides $1.5 Million Purchase Order Finance Facility for Cosmetic Distributor
- Commercial Finance Partners Closes Five Factoring Facilities in Five Days
- Legacy Corporate Lending Provides a $31MM Asset-Based Revolver to Natural Alternatives
TSL Express Daily Articles & News
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Siena Healthcare Finance Hires VP, Western Region Business Development Officer
Siena Healthcare Finance is pleased to announce the addition of Ashley Nelson as VP, Western Region Business Development Officer. In her new role, Ashley will be responsible for leading new healthcare originations in the Western United States.
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Featured
House Democrats Propose the Heroes Act
House Democrats unveiled a massive $3-trillion virus-relief bill Tuesday, combining aid to state and local governments with direct cash payments, expanded unemployment insurance and food stamp spending as well as funds for voting by mail and the U.S. Postal Service. A vote is likely on Friday.
While the bill is not supported by House Republicans (or expected to become law), it is the opening salvo for the next COVID-19 relief package, which will likely face protracted negotiations between the White House and Congress.
House Democrats prepared the below summaries, which make a number of changes to programs in the CARES Act, including to the Payroll Protection Program (PPP).
TSL Express Daily Headlines & News
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Great Rock Capital Closes $20MM Term Loan Facility
November 1, 2022Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced that it has provided $20 million of liquidity through a senior secured term loan facility to support a leading gas compression service provider located in Texas.
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Citizens Arranges Debt Financing for a $142.5 Million Loan to Redbrick LMD
November 1, 2022Redbrick LMD has secured a $142.5 million loan to finance the construction of The Douglass, a 750-unit residential building at the Bridge District that includes approximately 40,000 square feet of retail and 80 affordable units. The Bridge District is a sustainable, wellness-focused neighborhood that will bring new options for living, dining, and entertainment, as well as jobs and growth opportunities for local businesses and community members in Ward 8. Citizens Bank arranged the debt financing for the project.
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Tradewind Finance Provides More Than $2 Million in Financing to Textile Manufacturer in India
November 1, 2022The manufacturer enlisted Tradewind to advance them the capital tied to their receivables and, in turn, secured a USD 2,300,000 credit facility. In operation since the 1960’s, the company manufactures bags for packaging, floor coverings, and apparel.
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Houlihan Lokey Announces Two Senior Hires to Establish Coverage Across Equipment-as-a-Service Sector
November 1, 2022Houlihan Lokey (NYSE:HLI), the global investment bank, announced today the appointments of Matthew Hudson and Spencer Lippman as Managing Directors in the firm’s Business Services Group, bolstering its coverage of the equipment-as-a-service sector. Mr. Hudson, serving as Head of Equipment-as-a-Service, will lead a dedicated sector coverage team from a soon-to-be-established investment banking office in Baltimore. Mr. Lippman is based in the firm’s Houston office.
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Frank A. Cavallaro to Join Peapack-Gladstone Financial Corporation and Peapack-Gladstone Bank as Senior Executive Vice President
November 1, 2022Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) is proud to announce that Frank A. Cavallaro will join the Company and the Bank as Senior Executive Vice President, effective October 31, 2022, and will assume the role of Chief Financial Officer on November 10, 2022.
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Icertis Secures $150 Million to Accelerate Leadership in Contract Lifecycle Management
November 1, 2022Icertis, the contract intelligence company that pushes the boundaries of what's possible with Contract Lifecycle Management (CLM), announced it has secured $150 million in funding comprised of a revolving credit facility and convertible financing from Silicon Valley Bank.
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ALX Oncology Enters $100 Million Loan Facility Agreement with Oxford Finance and Silicon Valley Bank to Support Ongoing Development of Evorpacept
November 1, 2022ALX Oncology Holdings Inc., (“ALX Oncology”) (Nasdaq: ALXO) a clinical-stage immuno-oncology company developing therapies that block the CD47 checkpoint pathway, today announced it has entered into a loan facility agreement with Oxford Finance LLC and Silicon Valley Bank for up to $100 million of non-dilutive financing. The facility will support the continued development of evorpacept, a next generation CD47 blocking therapeutic.
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Monroe Capital Supports QHP Capital’s Acquisition of AutoCruitment
November 1, 2022Monroe Capital LLC announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the acquisition of AutoCruitment, LLC (“AutoCruitment”) by QHP Capital L.P., the management company for NovaQuest Private Equity.
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Survey: M&A Forecast Remains Strong Despite Rising Interest Rates
November 1, 2022A new Grant Thornton LLP survey of merger and acquisition (M&A) professionals finds that almost three-fourths (72%) expect deal volume to increase over the next six months, despite rising interest rates threatening access to capital and uncertainty about a potential increase in capital gains taxes. Almost two-thirds (63%) of the more than 150 respondents said pending tax legislation could have a positive impact on their deal plans.
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SLR Healthcare ABL Provides Financing to Remote Patient Monitoring Service
November 1, 2022SLR Healthcare ABL is pleased to announce that it provided financing to a remote patient monitoring service $5,000,000 asset-based revolving line of credit.
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Yoshitsu Co., Ltd Announces New Revolving Credit Facility to Support Future Growth
October 31, 2022Yoshitsu Co., Ltd (“Yoshitsu” or the “Company”) (Nasdaq: TKLF), a retailer and wholesaler of Japanese beauty and health products, as well as sundry products and other products in Japan, today announced that on September 27, 2022, the Company entered into a JPY8.15 billion (approximately US$55.82 million) revolving credit facility agreement (the “Credit Agreement”) with a syndicate of Japanese banks to support the Company’s growth initiatives.
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William Blair Expands Investment Banking Team With Managing Director in Supply Chain and Commercial Services
October 31, 2022William Blair, the premier global boutique with expertise in investment banking, investment management, and private wealth management, announced today that it has expanded its investment banking team with the addition of David Hatch. Joining in Charlotte as a managing director on the supply chain and commercial services (SCCS) team, Hatch draws on a career spanning more than 15 years focused on clients across the supply chain services sector.
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SLR Equipment Finance Adds to its Underwriting Team with Jessi McMillen Hire
October 31, 2022Jessi McMillen joined SLR Equipment Finance as Assistant Vice President - Risk. In her new role, Jessi 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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SG Stonegate Capital Announces Senior Debt Investment in Smith Teamaker
October 31, 2022SG Stonegate Capital, a division of SG Credit Partners (“SGCP”), a family-office backed lender providing capital to lower middle market businesses and entrepreneurs, is pleased to announce the closing of a senior debt investment in Smith Teamaker, a leading U.S. brand of specialty and artisan tea products.
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Kin Secures $145 Million in Debt Financing to Fuel Continued Growth
October 31, 2022-Kin, the direct-to-consumer home insurance company built for every new normal, today announced the closing of a $145 million committed credit facility. The new facility, which was led by Runway Growth Capital LLC (“Runway”) and the Avenue Venture Opportunities Fund, L.P. ("Avenue Venture Debt Fund" or "Avenue"), provides Kin with additional capital to support the expansion of the Kin Interinsurance Network, a reciprocal exchange.
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Cynergy Business Finance Named Asset Based Lending Team of the Year
October 31, 2022After a record start for the business, Cynergy Business Finance (CBF) has been named Asset Based Lending Team of the Year at Insider’s North West Dealmakers Awards. Despite having only operated for 10 months during the qualifying period, the judges commended the exceptional growth of the business, describing it as a ‘knockout performance’ for the Manchester-based team
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Harbor Group International Provides Senior Mezzanine Loan for Manhattan Medical Office Development
October 31, 2022Harbor Group International, LLC ("HGI"), a privately-owned international real estate investment and management firm, today announced it has provided a $90 million senior mezzanine loan to Extell Development Company ("Extell") to finance the construction of 1520 First Avenue, a 30-story, 420,000 rentable square foot office building in Manhattan's Upper East Side.
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Wainio Joins First National Bank as Senior Relationship Manager
October 31, 2022First National Bank, the largest subsidiary of F.N.B. Corporation, announced this week that it has hired Richard Wainio as senior vice president and senior relationship manager for its Business Credit group, based in the Cleveland Region.
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Fortress Investment Group Ranked 2nd Fastest-Growing Alternative Investment Brand in 2022 Alts 50 Report by Peregrine Communications
October 31, 2022Fortress Investment Group LLC (“Fortress”) was ranked as the 2nd fastest-growing brand among 50 alternative investment managers included in the second edition of the Alts 50 report, published by Peregrine Communications. The report provides a qualitative and quantitative assessment of the integrated marketing and communications activities of the world’s 50 largest alternative investment managers (measured by assets under management).
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Cambridge Savings Bank Provides Artist & Craftsman Supply with a $4 Million Revolving Line of Credit to Pursue Strategic Growth Initiatives
October 31, 2022Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and $6 billion in assets, today announced that its Asset-Based Lending team provided a $4 million revolving line of credit to Artist & Craftsman Supply (A&C), a national provider of arts and crafts supplies headquartered in Portland, Maine.
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