- Christopher “Chris” Babcock, Former ~25 Year Director from BNY Mellon Asset Management, Joins Star Mountain Capital as Managing Director
- SouthStar Capital Provides Financing Facility for Clinical Research Technology Company
- Baker Garrington and Liquid Capital Announce Recent Financings
- News Detail Share Test
- Baker Garrington and Liquid Capital Announce Recent Financings
TSL Express Daily Articles & News
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Ares Management Commits Sustainability-Linked Debt Facility to EdgeConneX®
Ares Management Corporation (“Ares”) (NYSE: ARES) announced today that funds managed by its Infrastructure Debt strategy have committed a delayed draw sustainability-linked debt facility to EdgeConneX®, a leading global provider of full-range data center solutions.
The new debt facility provides for a commitment of up to approximately $1 billion and will be used to refinance existing indebtedness and to fund development and construction of EdgeConneX’s growing development pipeline.
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As an SFNet Chapter leader, some of the most enjoyable times are spent working with the next generation. Joe Accardi, Head of New Business Development at Peoples United Business Capital, and I did that earlier this fall at Temple University, where I have been an adjunct professor for the last 11 years. During the last two semesters, Joe has led discussions on asset-based lending (ABL) with graduating seniors. Jeff Walsh and the team at SFNet prepared a slide presentation on the particulars of ABL and Joe also prepared a separate supplement.
TSL Express Daily Headlines & News
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Clayton, Dubilier & Rice Appoints David Winokur as Financial Services Partner
September 7, 2022Clayton, Dubilier & Rice announced the appointment of David Winokur, an experienced financial services investor, as a Partner at the firm. In his new role, Mr. Winokur will build the newly created financial services vertical and be engaged in sourcing and evaluating investments across the Insurance, Wealth & Retirement Services, Banking & Credit, and Fintech sectors.
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iCapital® and Ares Wealth Management Solutions Expand Partnership
September 7, 2022iCapital1, the leading global fintech platform driving access and efficiency in alternative investing for the asset and wealth management industries, and Ares Wealth Management Solutions (“AWMS”) announced today an expansion of their partnership to provide financial advisors and registered independent advisors with greater access to a broadened menu of alternative investment solutions and a comprehensive set of tools to support the development of client portfolios.
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Kawasaki Motors Finance Corporation Optimizes With Solifi’s Wholesale Finance Platform
September 7, 2022Solifi™, a global fintech software partner for secured finance, announced Kawasaki Motors Finance Corporation (KMFC) – the captive finance arm of Kawasaki Motors Corp. U.S.A., an established global distributor of powersports vehicles – migrated its entire U.S. operations to the Solifi Wholesale Finance software-as-a-service (SaaS) platform in December 2021.
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Crystalfi Announces Its Family Brand Structure
September 6, 2022Crystalfi, a Miami-based financial service company announced today its new Family Brand Structure which includes American Auto Bankers, MAKO Equipment Finance and CrystalFi Commercial Credit.
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CBL Announces Rebrand to Edge Capital
September 6, 2022Context Business Lending, LLC (“CBL”) a leading family office-backed national asset-based lender, announced today that it has changed its name to Edge Capital Lending, LLC (“Edge” or “Edge Capital”) to better reflect its identity and its future.
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2-Day Auction of Complete Pulp Mill in Chetwynd, BC
September 6, 2022PPL Group, Capital Recovery Group (CRG), Workingman Capital are jointly conducting a two-day auction of a complete Pulp Mill in British Columbia. Sale features nearly 1000 lots of late model equipment of a Bleached Chemical Thermo-Mechanical Pulp Mill including debarking and chipping lines, TMP Refiners, Material Handling Equipment and over $5MM of spare parts, supplies and stores inventory.
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BizCap® Expands Team, Hires Andrew Tinger as Vice President
September 6, 2022BizCap®, a national commercial finance and advisory firm, today announced it has expanded its team with the hiring of Andrew Tinger as vice president of originations. In this role, Mr. Tinger will be responsible for expanding BizCap’s presence in the commercial credit market, with a strategic focus on extending its debt advisory practice to the private equity community.
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Gateway Trade Funding Provides a $1,300,000 Purchase Order Facility to a Specialty Accessories Company
September 6, 2022With the financing from Gateway, the company now has the additional funding they need to be in a better position to outperform its competition and delight its clients, which will propel its growth again next year.
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Briar Capital Real Estate Fund Closes a new $1MM Real Estate Loan Facility to a Manufacturer of High Precision Cutting Tools
September 6, 2022Briar was brought into this transaction by a traditional asset-based lender who, like most, prefer lending on assets like accounts receivable and inventory to that of real estate. Aware of Briar’s unique appetite for real property, this ABL lender understood Briar was the obvious choice to assist this Michigan company.
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Iron Horse Credit Provides a $3.5 Million Inventory Line of Credit to a Wellness and Nutritional Supplements Retailer
September 6, 2022Iron Horse Credit (“IHC”), a leading inventory lender, is pleased to announce the closing of a $3,500,000 stand-alone inventory revolving line of credit to an online Wellness and Nutritional Supplements retailer. The company has been a pioneer in developing high performance supplements and is actively looking to expand their product offerings. IHC was introduced to the company by its current asset-based lender.
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Accomplished Corporate Lawyers Lake Taylor and Lawton Way Join McGuireWoods
September 6, 2022McGuireWoods continues the expansion of its highly ranked securities and capital markets practice with the arrival of partners W. Lake Taylor, Jr. and Lawton B. Way, who join the firm in Richmond, Virginia.
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J D Factors Announces Factoring Facilities
September 6, 2022J D Factors announced the following factoring facilities: $100,000 to a transportation company in Alberta; $400,000 to a transportation company in Illinois; $225,000 to a transportation company in Ohio; $100,000 to a transportation company in Manitoba.
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StayMobile Bankruptcy Auction Translates into Buying Opportunity for Electronics Repair Companies Nationwide
September 6, 2022The September 8 court-ordered bankruptcy liquidation of StayMobile’s former inventory of computer components is a rare opportunity for student-device repair companies and other buyers with technology needs, announced sale partners Tiger Group and Liquid Asset Partners.
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Byron Vielehr Named Chief Operating Officer of Apollo Asset Management
September 6, 2022Apollo (NYSE: APO) today announced that Byron Vielehr has been named Partner and Chief Operating Officer (COO) of Apollo Asset Management, Inc. (NYSE: AAM PrA, AAM PrB), effective September 30th, 2022. Vielehr will work with the leadership team to shape and support the firm’s strategic growth plan, scale Apollo’s global operating platform and harness the power of technology across the firm.
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Bankruptcy Filings Increase Across All Chapters in August 2022
September 6, 2022Bankruptcy filings in August 2022 across all chapters totaled 35,355, a 10 percent increase from the August 2021 total of 32,276, according to new research released today from Epiq's Bankruptcy Analytics platform. Overall commercial filings increased 6 percent in August 2022, as the 1,861 filings were up over the 1,753 commercial filings registered in August 2021. Individual filings increased 10 percent totaling 33,494 in August 2022 compared to the 30,523 filed in August of 2021.
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Nicole Cangelosi is Named Senior Vice President, Head of Retail Finance Group Underwriting and Origination, at Bank of America Business Capital
September 6, 2022Nicole Cangelosi was named Senior Vice President, Head of Retail Finance Group Underwriting and Origination, at Bank of America Business Capital, based in New York City. Nicole is responsible for a team of underwriters and analysts dedicated to retail ABL and will oversee the underwriting, structuring and loan documentation for all new retail opportunities.
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Austin Financial Services Closes $3.5M A/R Credit Facility to Materials Recycling Company
September 6, 2022Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $3.5MM A/R only credit facility to a fifty-year-old materials recycling company based in the Western Region. Proceeds from AFS’ revolver were used to refinance the Company’s existing bank facility and will provide ongoing working capital support.
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Lending Industry Veteran Patrick Sweeney Joins Flexent Team
September 6, 2022Flexent is happy to announce that industry veteran Patrick Sweeney has joined the company. Sweeney joins Flexent as a District Sales Manager. As a District Sales Manager for Flexent, Sweeney is responsible for business development and strategic relationships with banks, brokers, and other financial intermediaries in the Florida region.
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Utah Issues Registration Form for Factors and Asset-Based Lenders
September 6, 2022The Utah Department of Financial Institutions has issued the registration form for factors and asset-based lenders to utilize in order to comply with the Utah Commercial Financing Registration and Disclosure Act, which was enacted in March.
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MidFirst Business Credit Announces New Lending Relationship with Heat Transfer Tubular Products, LLC
September 6, 2022MidFirst Business Credit (MFBC) announced it has provided a $9 million working capital and term facility to Heat Transfer Tubular Products, LLC (HTTP). Headquartered in Conroe, Texas, HTTP is a value-added distributor of niche products for heat exchangers, condensers, boilers, feed-water heaters and economizers. HTTP also provides value-added services, such as cutting, finning, bending and heat-treating.
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