- First Business Bank Funds $11.5 Million Factoring & Inventory Financing Facility For Food & Beverage Company’s Growth
- Gateway Completes a Record 39 Stretch Deals in 45 Days Totaling $15 Million
- SouthStar Capital Provides Financing Facility for Clinical Research Technology Company
- Ashtrom Renewable Energy Completes Financial Close for Another Renewable Energy Project in the U.S.
- Equify Business Funding Provides $5,000,000 ABL Facility Refinance to Gulf Coast Power Systems Manufacturer
TSL Express Daily Articles & News
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ZenFi Networks Secures $175 Million Senior Secured Credit Facility
ZenFi Networks, an innovative leader of digital infrastructure solutions in the New York and New Jersey metro region, announces today that it has secured $175 Million in Senior Secured Credit. The credit facility will be used to refinance existing debt and support continued growth initiatives as the company continues the build-out and expansion of the LinkNYC project throughout the five boroughs of New York City.
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A recent Supreme Court case and related law changes in many states have resulted in significant new state sales tax obligations on many SaaS providers. It’s important to understand that these changes could result in new tax collection responsibilities on your business even in states where you have operated without them in the past.
Executives need to act quickly to make sure that their existing operations are in compliance with the new rules and that their systems can adapt as sales growth and law changes trigger additional obligations.
TSL Express Daily Headlines & News
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Airbase Secures $150M Credit Facility from Goldman Sachs
July 18, 2022Airbase, the fast-growing and top-ranked spend management platform for mid-market and enterprise companies, has today announced $150M in debt financing led by Goldman Sachs. This latest funding, which closed this month, will allow Airbase to expand its innovative charge card program to its increasing base of customers. Demand for Airbase corporate cards — part of its award-winning spend management platform — has been surging as more companies seek visibility and control over employee spending.
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CPS Announces Renewal and Doubling of Credit Facility
July 18, 2022Consumer Portfolio Services, Inc. (Nasdaq: CPSS) (“CPS” or the “Company”) today announced that it renewed its two-year revolving credit agreement with Citibank, N.A., and doubled the capacity from $100 million to $200 million.
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Gibraltar Provides $10MM ABL to Multi-Brand Beauty Products Company
July 18, 2022Scent Beauty hired Brooks, Houghton & Company, a NYC-based merchant banking firm, to identify a financing partner to assist the company with its strong sales growth trajectory. As the financing search process evolved, it became clear that Gibraltar’s expert team would best serve the company now and in the future. Direct access to Gibraltar’s senior credit decision makers, who took the time to understand Scent Beauty’s business plan, was a primary driver of this decision.
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Stonebriar Commercial Finance Funds $30 Million Lease to Support Growth of Existing Customer
July 18, 2022Stonebriar Commercial Finance (“Stonebriar”) today announced the closing of an additional $30 million lease with one of its long-standing customers, the third transaction provided for this customer since 2016. The lease proceeds were used to acquire new equipment to expand production capabilities.
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IDB Bank Appoints Kenneth Savio as New CEO of IDB Capital
July 18, 2022IDB Bank, a New York-based private and commercial bank, announced Ken Savio as President & Chief Executive Officer (CEO) of IDB Capital, IDB Bank's broker-dealer subsidiary. As CEO, Savio will oversee the growth of IDB Capital as the Bank expands its wealth management business. He will also serve as a member of the IDB Senior Management Team and will report to Ziv Biron, IDB Bank's President & CEO.
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TD Bank Appoints New Vermont Commercial Market President, Don Baker
July 18, 2022TD Bank, America’s Most Convenient Bank®, today announced that Don Baker has joined TD as the Vermont Commercial Market President. Baker succeeds Phil Daniels, who will be retiring later this year after 40 years with TD.
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Phoenix IB® Assists Polymeric Resources Corporation in Completing a Successful Refinancing through Citizens
July 18, 2022Phoenix IB, a leading middle market situations investment bank, acted as the exclusive financial advisor and investment banker to Polymeric Resources Corporation in arranging, structuring, and negotiating a refinancing of $30 million through Citizens. The new refinancing consists of a Revolving Line of Credit, a Capital Expenditure Line of Credit, and a Delayed Draw Term Loan. The proceeds from the new refinancing will be utilized to refinance existing debt and facilitate future growth.
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Citizens Financial Group to Expand Wealth Management Business with Acquisition of Paladin Advisors
July 18, 2022Citizens Financial Group, Inc. (NYSE: CFG) today announced a definitive agreement to purchase select assets and liabilities of Paladin Advisors, an independent, registered investment advisor headquartered in Kensington, New Hampshire. This acquisition strengthens Citizens’ presence in an important geography, while bringing additional investment capabilities to the Clarfeld | Citizens Private Wealth team.
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Cadence Business Finance Commits $11.25M to Business Interiors, Inc.
July 18, 2022Cadence Business Finance, a division of Cadence Bank (NYSE:CADE), has committed $11.25 million as part of a credit facility for Business Interiors, Inc., a full-service contract furniture dealer and interior design consultant.
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Associated Bank Appoints Twin Cities Market President, Paul Schmidt
July 18, 2022Associated Banc-Corp (NYSE: ASB) today announced the appointment of Paul Schmidt to the role of Twin Cities market president. The company also announced plans for the expansion of its market commitment and accelerated growth through its new Engage Local initiative.
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Gridiron Capital Completes Investment in Vistage Worldwide, Inc.
July 18, 2022Truist Securities served as financial advisor and Finn, Dixon & Herling LLP served as legal counsel to Gridiron. Macquarie Capital served as financial advisor to Vistage; Ropes & Gray along with Stradling Yocca Carlson & Rauth served as legal counsel. Financial terms of the transaction were not disclosed.
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CIBC Innovation Banking Provides £40 Million Growth Financing to Fintech Company Smart to Accelerate Growth and Acquisitions
July 18, 2022CIBC Innovation Banking is pleased to announce £40 million of growth financing for London-based Smart, a leading retirement technology provider. Smart will use the capital to expand its market growth, accelerate the launch of strategic products, and undertake acquisitions.
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Audax Private Debt Provides Financing to Support Bessemer Investors’ Investment in RotoCo
July 14, 2022Audax Private Debt announced that, as Administrative Agent & Joint Lead Arranger, it provided a unitranche credit facility to support the acquisition of RotoCo (the “Company”), a franchisee of Roto-Rooter, by Bessemer Investors, a New York-based private equity firm.
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Irontrax Adds Rick Wilichowski to Appraisal Staff
July 14, 2022Irontrax is proud to welcome Rick Wilichowski to the team. Rick brings a wealth of knowledge from his 30+ years in the appraisal business. Rick has been with Gordon Brothers/AccuVal Associates for most of his career where he most recently held positions of practice group leader for personal property valuations and business development in the Midwest.
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BHI C&I Group Provides $18.35 Million Financing for Allstate Sales Group
July 14, 2022BHI, a full-service commercial bank, announced that its Consumer & Industrial Group has provided $18.35 million in financing for Allstate Sales Group (ASG), a provider of telecom and electric infrastructure engineering, design and construction services. The financing consists of a senior secured revolving credit facility, a term loan facility, mortgage financing for three properties and a purchase card line.
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Winston & Strawn Represents Koppers, Inc.
July 14, 2022Winston & Strawn represented Koppers, Inc., as borrower, in connection with a $800 million revolving credit facility agented by PNC Bank, National Association. Koppers Inc., a subsidiary of the public company Koppers Holdings Inc, produces carbon compounds and treated wood products for a variety of industries.
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Resolute Capital Partners Announces Close of Fifth Fund at $405 Million
July 14, 2022Resolute Capital Partners (“RCP”), a private investment firm focused on providing structured capital solutions to lower middle market businesses, today announced the close of Resolute Capital Partners Fund V (“RCP V”) at $405 million in aggregate capital commitments. The funding includes assumed leverage accessible through RCP’s licensure by the United States Small Business Administration (“SBA”) as a Small Business Investment Company (“SBIC”).
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Bluevine Announces its Next-gen Brand Identity, Reflecting the Company's Growth and Evolution
July 14, 2022Bluevine, the leading provider of holistic banking solutions designed for small businesses, today announced a new brand identity, reflecting the company's next era of its commitment to grow and evolve its services alongside the changing needs of small business owners. Bluevine's new logo, symbol, color palette, and typeface reflect its modern, technology-forward, empathetic approach driven by its purpose of advocating for, understanding, and serving small businesses.
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Main Street Announces Follow-On Investments, Invests $19.5 Million in Three Existing Portfolio Companies
July 14, 2022Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that it recently invested a total of $19.5 million in three existing lower middle market portfolio companies, PPL RVs, Inc. ("PPL"), Centre Technologies Holdings, LLC ("Centre") and Nebraska Vet AcquireCo, LLC, dba Heritage Vet Partners, P.C. ("Heritage").
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City National Bank Expands Commercial Banking Operations on the East Coast
July 14, 2022City National Bank has grown its Commercial Banking presence on the East Coast with the addition of nearly a dozen new bankers and now offers commercial, institutional, and nonprofit banking services throughout the region with an expanded focus on upstate New York, the mid-Atlantic and Southeast.
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