- FTI Consulting Grows Transactions Practice With Appointment of Damon Yousefy as Senior Managing Director
- SouthStar Capital Deploys $3 Million Purchase Order and A/R Facility for Charlotte-Based Critical Power Supplier
- Triple Flag Announces Increase in Credit Facility at Improved Terms
- Bank of America Names Marc Compton as Oregon and Southwest Washington President
- SouthStar Capital Delivers $750,000 Working Capital Facility for Texas Environmental Materials Business
TSL Express Daily Articles & News
To submit company news and press releases toTSL Express, email tslexpress@sfnet.com.
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Mountain Ridge Capital Announces New Executive Hires
Mountain Ridge Capital, an asset-based commercial finance company, announced the hiring of Bill Drmacich and Jay Fabian as Managing Directors of Business Development.
Drmacich, an industry veteran, is responsible for business in the Southeast market from Atlanta where he has been a member of the community for over 25 years. Prior to joining Mountain Ridge, Fabian was a Senior Originator with First Merchants Bank and during the 15 years before that, was a highly valued contributor at Stonegate Capital and Wells Fargo.
Drmacich, an industry veteran, is responsible for business in the Southeast market from Atlanta where he has been a member of the community for over 25 years. Prior to joining Mountain Ridge, Fabian was a Senior Originator with First Merchants Bank and during the 15 years before that, was a highly valued contributor at Stonegate Capital and Wells Fargo.
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PPE Funding Roundtable
Four executives from SFNet member companies discuss their experience in adapting to the surge of funding requests for personal protection equipment (PPE). TSL Express sat down with Jeff Goldrich, president and CEO, North Mill Capital; Edward King, founder and managing partner King Trade Capital; Paul Schuldiner, executive vice president and purchase order finance division manager, Rosenthal & Rosenthal; and Scott Winicour, CEO, Gibraltar Business Capital to learn more.
TSL Express Daily Headlines & News
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eCapital Provides $20MM Working Capital Line of Credit to Popular Consumer Packaged Goods Company
October 31, 2022eCapital Corp. (“eCapital”), a leading finance provider for businesses across North America and the U.K., today announced the recent closure of a $20 million working capital line of credit to a prominent consumer packaged goods (CPG) company in the natural odor elimination category.
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CEOs Offer a Contrarian View Remaining Moderately Optimistic about Company Outlook
October 31, 2022In the latest Fortune/Deloitte CEO Survey, CEOs share more modest growth expectations over the next 12 months, fine-tuning strategies around talent, workplace, and technology models to adapt to new conditions.
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B. Riley Securities Expands Healthcare & Life Sciences Investment Banking
October 31, 2022B. Riley Securities, Inc., a leading full service investment bank and subsidiary of B. Riley Financial, Inc. (NASDAQ: RILY) ("B. Riley"), today announced it has added a team of nine experienced Healthcare and Life Sciences professionals from Huron Transaction Advisory LLC ("Huron"). Veteran investment bankers, James Metcalf and Benjamin Matz, have joined B. Riley Securities along with a team of investment banking professionals with significant expertise that further fortifies the firm's Healthcare and Life Sciences practice.
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Solifi Selected for Great Places to Work List by The Secured Lender
October 31, 2022Solifi™, a global fintech software partner for secured finance, announced The Secured Lender named Solifi to its inaugural 2022 Great Places to Work list. This recognition is testament to Solifi’s commitment in attracting and retaining talent through a range of initiatives, including an entrepreneurial company culture, competitive compensation, diversity, equity, and inclusion (DEI), work-life balance, and attractive perks.
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Verano Refinances $350 Million Credit Facility with Significant Optionality to Bolster Strategic Growth Plans
October 31, 2022Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) (“Verano” or the “Company”), a leading multi-state cannabis company, today announced it has entered into a credit agreement to refinance its existing $350 million credit facility, extending the maturity date to October 30, 2026. The refinanced indebtedness bears interest at a floating rate based on the prime rate, with a current rate of 12.75% per annum.
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CloudPay Raises $50 Million and Reports Growth as Payroll Evolution Continues
October 31, 2022Expert in global pay solutions, CloudPay, has raised a new $50 million round of capital while recording strong growth as demand for cloud-based integrated global payroll and payments services continues. The funds raised were led by Runway Growth Capital and The Olayan Group.
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Republic Bank Expands its Cincinnati Footprint with the Acquisition of CBank
October 31, 2022Republic Bancorp, Inc. (NASDAQ: RBCAA) (“Republic” or the “Company”), the parent company of Republic Bank & Trust Company (“Republic Bank” or the “Bank”), and Cincinnati-based CBank (www.cbankusa.com) today announced the signing of an Agreement and Plan of Merger (the “Agreement”) under which Republic will acquire CBank and its wholly-owned subsidiary, Commercial Industrial Finance, Inc. (“CIF”). CIF, which is headquartered in St. Louis, Missouri, provides equipment leasing and financing to businesses nationwide.
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Pathward Financial, Inc. Announces 2023 CFO Succession Plan
October 31, 2022Pathward Financial, Inc.™ ("Pathward Financial" the “Company”) (Nasdaq: CASH) today announced that Sonja Theisen, 41, currently Executive Vice President, Governance, Risk and Compliance, will succeed Glen W. Herrick, 60, as Chief Financial Officer, effective April 30, 2023.
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J D Factors Announces Factoring Facilities
October 31, 2022J D Factors announced it has provided the following factoring facilities: $120,000 to a transportation company in New Jersey; $100,000 to a transportation company in Kentucky; $100,000 to a transportation company in Ontario; $1,000,000 to a transportation company in Illinois.
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BHI Provides $42.5 Million Financing For TL Management
October 31, 2022BHI, a full-service commercial bank, announced that it has closed on a $42.5 million term loan for TL Management, a company that owns skilled nursing facilities across the country.
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Comvest Credit Partners Announces $400 Million Credit Facility for Beyond Finance
October 27, 2022-- Comvest Credit Partners (“Comvest”), a leading provider of flexible direct financing solutions to middle-market companies, is pleased to announce that it has acted as Administrative Agent on a $400 million senior secured credit facility (the “Financing”) to Beyond Finance (the “Company”), a Houston-based provider of success fee-based debt resolution services that has been part of Comvest’s Direct Lending portfolio since 2019.
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Gordon Brothers Completes Armstrong Flooring Purchase
October 27, 2022Gordon Brothers, the global advisory, restructuring and investment firm, has completed the purchase of a substantial portion of Armstrong Flooring Inc.’s assets. Gordon Brothers purchased a majority of the flooring products manufacturer’s existing inventory and partnered with Vion Investments to purchase the accounts receivable to effect the wind down of the business and operations that did not move forward.
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TD Bank Names Gregory Carlisle Commercial Market President for South / Coastal New Jersey
October 27, 2022TD Bank, America's Most Convenient Bank®, announced it has appointed Gregory Carlisle as its Commercial Market President for South Jersey/Coastal New Jersey. He succeeds Robert Curley III, following his move to Regional President of the Pennsylvania and New Jersey Metro.
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Modiv Announces Expanded $400 Million Credit Facility
October 27, 2022Modiv Inc. (“Modiv” or the “Company”) (NYSE:MDV), an internally managed real estate investment trust (“REIT”) that acquires, owns, and manages a diversified portfolio of single-tenant net-lease real estate properties, announced that it successfully exercised the accordion feature of its Credit Facility on October 21, 2022. The Credit Facility was increased to $400 million and is now comprised of a $150 million revolving credit facility (the “Revolver”) and a $250 million term loan (the “Term Loan”) (together, the “Credit Facility”).
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RumbleOn Announces Used Powersports Inventory Financing Credit Facility Agreement with J.P. Morgan
October 27, 2022RumbleOn, Inc. (NASDAQ: RMBL), the nation’s first technology-based omnichannel powersports platform, today announced that it has entered into a $75 million used powersports inventory financing credit facility with J.P. Morgan. The inventory financing facility supports RumbleOn’s strategy of providing customers a robust choice of powersports vehicles, and an unmatched buying experience both online and in retail locations.
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Montage Capital Grows Its Investment Team
October 27, 2022Montage Capital is excited to announce the appointment of Samantha Kim as Principal. She joins Founder and Managing Director Mike Rose, Managing Director Eric Gonzales, and Principal Chet Kasper as the fourth member of the Montage investment team.
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KKR to Acquire Ness Digital Engineering
October 27, 2022RBC Capital Markets is acting as exclusive financial advisor, and Stradley Ronon Stevens & Young, LLP is serving as legal advisor to Pacific Life. Ballard Spahr LLP, TJC Law Group LLP and Ropes & Gray LLP are legal counsel to Aristotle for the transaction.
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Aristotle Expands Credit Offerings with Acquisition of Pacific Asset Management from Pacific Life
October 27, 2022RBC Capital Markets is acting as exclusive financial advisor, and Stradley Ronon Stevens & Young, LLP is serving as legal advisor to Pacific Life. Ballard Spahr LLP, TJC Law Group LLP and Ropes & Gray LLP are legal counsel to Aristotle for the transaction.
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Packable Software Platform and Related IP Available for Sale
October 27, 2022Hilco Streambank presents the opportunity to acquire the intangible assets of Packable Holdings, LLC (“Packable” or “Pharmapacks”) including its software platform utilized to sell products on Amazon, Walmart and other third-party marketplaces. Packable is a leading, technology-driven eCommerce marketplace enablement platform providing consumer brands, distributors and digitally native brands with the connections, insights and services needed to enable and accelerate sales growth across multiple online marketplaces simultaneously.
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Siena Lending Group Announces The Closing Of A $45 Million Credit Facility For Gladiator Energy LLC
October 26, 2022Siena Lending Group LLC ("Siena") announces the completion of a $45 million asset-based revolving line of credit for Gladiator Energy LLC (“Gladiator”). The facility was provided to repay existing debt and to support the company’s growth initiatives. Based out of Houston, Texas, Gladiator provides coil tubing and ancillary services to large, well -known oil and gas customers operating in the Permian, Eagle Ford, Haynesville, and Marcellus basins throughout the US.
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