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TSL Express Daily Articles & News
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Anthony Lavinio Joins Entrepreneur Growth Capital as President
Entrepreneur Growth Capital (“EGC”), headquartered in New York City, announced today that Anthony Lavinio has joined the company and has been named President of the organization. Anthony will focus on growing the business while leading the team in structuring financing solutions to small and lower middle market businesses.
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Life in ABL after COVID-19
I am old enough to remember the meltdowns that we had in the 1990s when prime rate of interest hit double digits and the American economy cratered when companies folded up and went out of business. Of course, I also remember 2008-2009 when the housing crisis hit and a lot of companies went out of business and banks lost a lot of money, etc. Here we go again. We are now in the year 2020 and sitting on the brink of another emerging crisis.
TSL Express Daily Headlines & News
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Aequum Capital Provides $6MM Asset-Based Revolver to Industry Leading Home Goods Distributor
October 13, 2022Aequum Capital is pleased to announce it recently closed a $6,000,000 credit facility to a Midwest based industry-leading designer, marketer, and distributor of home goods and sleep environment products. These are sold through multiple national retailers and a vast network of e-commerce channels.
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TD Bank Names Steve Boyle Chief Operating Officer
October 13, 2022TD Bank, America's Most Convenient Bank®, today announced that Steve Boyle has been named Chief Operating Officer, a newly created position reporting to Leo Salom, President and CEO. Boyle will be responsible for scaling the bank’s operations to support its growth priorities, continuing the transformation of its data and analytics function, and ensuring the successful integration of First Horizon – following regulatory approval of TD's definitive agreement to acquire the bank announced earlier this year.
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Wings Capital Partners LLC Announces New Financing Activity
October 12, 2022Wings Capital Partners LLC (“Wings”) announced the closing of an unsecured corporate revolving credit facility provided by City National Bank. In addition, Wings recently completed the refinancing of four aircraft in a $76m secured loan facility. The term facility was due to mature early next year and Wings proactively refinanced the vehicle using its existing warehouse loan facility.
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CIT Closes $50 Million Factoring Facility with Consumer Technology Firm
October 12, 2022CIT Commercial Services, a subsidiary of First Citizens Bank, today announced that it has completed a $50 million factoring facility with a West Coast consumer technology firm. CIT worked closely with the client to create a unique factoring arrangement to provide the technology designer and producer with additional flexibility in meeting its working capital needs.
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InterNex Provides $600,000 Credit Facility to Cookie Manufacturer
October 12, 2022InterNex Capital provided a $600,000 revolving line of credit to a historic, brand-name cookie baker in the Rocky Mountain region. As the 40-year-old manufacturer’s sales began to normalize post-pandemic, the company experienced stretched liquidity due to a recent manufacturing expansion.
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NextPlay’s NextBank Secures $200,000,000 Revolving Credit Line Facility
October 12, 2022NextPlay Technologies, Inc. (Nasdaq: NXTP), a digital native ecosystem for finance, digital advertisers, and video gamers, announced today that NextBank International, Inc. (“NextBank”), the international banking unit of NextPlay’s fintech division, has signed a Loan and Security Agreement with Savi Capital Partners, a Delaware Limited Liability Company, for a $200,000,000 revolving line of credit facility with maturity set for May 31, 2027.
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Bird Amends its Apollo Vehicle Financing Credit Facility
October 12, 2022Bird Global, Inc. (“Bird” or the “Company”) (NYSE:BRDS), a leader in eco-friendly electric transportation, today announced that its subsidiary, Bird Rides, Inc., has amended its existing $150 million vehicle financing credit facility with MidCap Financial Investment Corporation and MidCap Financial Trust (each managed or advised by Apollo Capital Management, L.P. or its affiliates, collectively "Apollo").
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Horizon Technology Finance Provides $30 Million of Growth Capital to Kodiak Robotics
October 12, 2022Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon"), a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries, announced today it has provided $30 million to Kodiak Robotics, Inc. ("Kodiak") in the form of a growth capital credit facility.
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SLR Healthcare ABL Provides Financing to Skilled Nursing Operator
October 12, 2022SLR Healthcare ABL is pleased to announce that it provided a $5 million asset-based revolving line of credit in October 2022 to a skilled nursing operator.
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Circulus Announces $300 Million Structured Solution From Apollo Infrastructure
October 11, 2022Circulus Holdings, a producer of post-consumer resin (PCR) from recycled low-density polyethylene (LDPE), and Apollo announced a $300 million innovative structured solution secured loan to support the company’s ongoing development of recycling infrastructure.
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VSE Corporation Amends, Extends and Upsizes Credit Facility
October 11, 2022VSE Corporation (NASDAQ: VSEC, "VSE", or the "Company"), a leading provider of aftermarket distribution and maintenance, repair and overhaul ("MRO") services for land, sea and air transportation assets for government and commercial markets, today announced that it has successfully amended, extended and upsized the Company’s existing credit facility with its lending syndicate.
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First Citizens Expands Middle Market Banking to Southwestern U.S.
October 11, 2022First Citizens Bank today announced the expansion of its Middle Market Banking unit to support the financial needs and goals of midsize businesses across Southern California and the Southwest region. The expansion follows the official launch of First Citizens Middle Market Banking in the Southeastern U.S. in September and the First Citizens Bank merger in January with CIT Group, a leading commercial lender with long experience in serving the middle market.
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Wintrust Business Credit Hires Andy Hall as National Portfolio Manager to Support National Expansion Plan
October 11, 2022Wintrust Business Credit (WBC), the asset-based lending (ABL) unit of Wintrust Commercial Banking, today announced the hiring of Andy Hall as National Portfolio Manager as part of its nationwide expansion effort. Working alongside National Sales Manager Jason LeuVoy, Hall will be responsible for building a full-scale credit team to pre-screen, underwrite, document and monitor deals as WBC expands its asset-based lending services from a regional provider to a national platform.
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FocalPoint Advises Tillamook Country Smoker on its Refinancing
October 11, 2022Insignia Capital Group, LP (“Insignia”) has successfully completed the refinancing of its portfolio company Tillamook Country Smoker, Inc. (“Tillamook” or the “Company”), a leading provider of hardwood-smoked meat snacks. The Company secured $75 million of total committed capital for the purposes of refinancing existing debt, funding working capital growth, and funding a dividend to Insignia. FocalPoint, a division of B. Riley Securities, Inc. ("FocalPoint"), served as exclusive financial advisor to the Company and arranged the financing.
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Gridiron Grows Associate Team with Alumni and New Talent
October 11, 2022Gridiron Capital, LLC (“Gridiron Capital”), an investment firm focused on partnering with founders, entrepreneurs, and management teams, is pleased to welcome Ryan Gardner back to the firm as a Senior Associate. In addition, Gridiron adds to its team Eric Albright and Virginia “Jinx” Charman.
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Park Cities Asset Management Provides $30 Million of Debt Financing Commitments to Applied Data Finance
October 11, 2022Park Cities Asset Management, LLC (“Park Cities”), an alternative investment firm focused on providing flexible debt solutions, announced today that it has provided $30 million of debt capital commitments to Applied Data Finance (“ADF”). Through its Personify Financial platform, ADF offers underestimated Americans an affordable, responsible alternative for unsecured personal installment loans.
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Houlihan Lokey Expands its Cybersecurity Coverage Capabilities
October 11, 2022Houlihan Lokey (NYSE:HLI), the global investment bank, announced today that Keith Skirbe has joined the firm’s global Technology Group as a Managing Director covering the cybersecurity sector. He is based in San Francisco.
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Lighthouse Provides $5,000,000 Credit Facility to North Carolina Importer & Distributor of Testing & Measuring Instruments
October 11, 2022Lighthouse Financial Corp. is pleased to announce the completion of a $5,000,000 credit facility for an importer and distributor of electronic diagnostic and measurement equipment. The company designs and manufactures tools utilized in the automotive, commercial, industrial, and DIY markets and distributes internationally. The company continually focuses on innovation to meet new requirements and satisfy needs in the electrical market.
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U.S. Middle Market Revenue Grew 12% in the First Two Months of Q3 2022
October 11, 2022Middle market private companies in the Golub Capital Altman Index experienced year-over-year revenue growth of 12% and earnings decline of 2% during the first two months of the third quarter of 2022. This compares to year-over-year revenue growth of 12% and earnings growth of 2% in the second quarter of 2022.
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VPX Seeks Chapter 11 Protection as It Transitions to World Class Distribution Network
October 11, 2022Today, Vital Pharmaceuticals, Inc. (“VPX Sports” or “Vital”), along with certain of its domestic subsidiaries and affiliates, announced it has filed voluntary petitions for protection under Chapter 11 of the Bankruptcy Code in the Southern District of Florida. VPX Sports is the maker of Bang energy drinks, among other consumer products.
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