- Eagle Point Provides Strategic Financing to Heritage Energy Storage for Distributed Generation Platform
- Gateway Completes a Record 39 Stretch Deals in 45 Days Totaling $15 Million
- Renasant Business Credit Announces Deals
- Essex Capital Group Closes $2.75 Million Short-Term Bridge Facility
- Benefit Street Partners Announces Closing of a $1.1 Billion CRE CLO
TSL Express Daily Articles & News
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Monroe Capital Hires Gordon Saint-Denis to Head Sports Finance Vertical
Monroe Capital LLC (“Monroe”) today announced Gordon Saint-Denis has joined the firm as Managing Director, Head of Sports Finance. Gordon will be responsible for originating new investments across the capital structure for acquisition financing and recapitalizations for all major sports teams and venues in North America and Europe as well as other businesses in the sports ecosystem such as soccer, rugby, cycling, racing, golf, endurance races, e-sports and sports technology companies, merchandising, name, image and likeness (NILs), ticketing, and equipment companies.
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If, indeed, the traditional car as we have known it is “dead”, and its current successors are likely to be short-lived placeholders for what is to come… to understand what’s next and how it will impact the asset-based valuations we perform in the automotive industry, it is necessary to first understand how we got here.
TSL Express Daily Headlines & News
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Huntington Business Credit Provides $24 Million for McGregor Metal Holdings LLC
June 21, 2022Huntington Business Credit announced it closed $24,000,000 in new credit facilities with McGregor Metal Holdings LLC on June 10, 2022. Proceeds of the facility were used to refinance existing indebtedness and provide ongoing working capital growth financing.
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Commercial Credit Group Inc. Closes $420,650,000 Term ABS (2022-1)
June 21, 2022Commercial Credit Group Inc. (CCG), an independent commercial equipment finance company, today announced that it has completed a $420,650,000 term asset-backed security (ABS) transaction. The securitization was CCG’s largest offering to-date and was placed with a diversified group of fixed income investors, representing 29 unique institutions. BMO Capital Markets served as Structuring Agent and Lead Bookrunner for the placement.
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Wintrust Receivables Finance Closes a new $15,000,000 Line of Credit for a Fast-growing Transportation Broker
June 21, 2022Wintrust Receivables Finance (WRF) is happy to announce the closing of a new $15,000,000 account receivable line of credit for a Midwest based transportation broker. The company focuses on full truckload freight for companies in the food and beverage vertical.
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Eastern Bank Welcomes Asian Atlantic Industries, LLC As An Asset-Based Lending Customer
June 21, 2022Eastern Bank is pleased to announce Asian Atlantic Industries, LLC (AAI) as a new asset-based lending customer. Founded in 1998 by CEO Tom Mahoney, AAI is a global supplier of electronic components and semiconductors. Headquartered in Portsmouth, New Hampshire, AAI uses its proprietary software to track the universe of supply and demand, providing its customers with real-time product availability from its vast database of manufacturers and resellers.
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SG Credit Provides Growth Capital Facility to X1
June 21, 2022SG structured a $2.5MM non-dilutive credit facility around the Company’s ARR, allowing existing investors to capture upside in enterprise value generated by additional growth.
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MUFG Expands Sales and Trading Team with Key ABS Hire
June 21, 2022Mitsubishi UFJ Financial Group (MUFG) announced today that Ray Barretto has joined the firm as a Director and Head ABS Trader. Based in New York, Ray reports to Michael McCarthy, Head of Macro Trading.
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Houlihan Lokey Expands Gaming Technology Coverage With Key Hire
June 21, 2022Houlihan Lokey (NYSE:HLI), the global investment bank, announced today that Joel Simkins has joined the firm’s Technology Group as a Managing Director covering the gaming sector. He is based in New York.
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Pelorus Equity Group Closes $11.8 Million Debt Financing, Enabling Juva Life to Expand Cannabis Operations, Further Clinical Research
June 21, 2022Pelorus Equity Group (“Pelorus”), the leading provider of commercial real estate loans for the cannabis sector, announced it has closed an $11.8 million financing with Juva Life Inc. (“Juva Life,” “Juva” or the “Company”), a life science company with pharmaceutical research and development and consumer-facing operations in cannabis production and distribution.
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SQI Diagnostics Extends Maturity Date Of Pivot Credit Facility
June 21, 2022SQI Diagnostics Inc. ("SQI" or the "Company") (TSXV: SQD) (OTCQB: SQIDF), a leader in the science of lung health that develops and manufactures respiratory health and precision medicine tests, announces the extension of the maturity date of its credit agreement (the "Credit Agreement") with Pivot Financial ("Pivot") dated February 8, 2022 to October 11, 2022. All of the other terms of the Credit Agreement remain unchanged.
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Oxford Bank Corporation Announces Retirement of Richard Miller and Appointment of Jesse Deering as Chief Financial Officer and Treasurer
June 21, 2022Oxford Bank Corporation ("Oxford" or "the Company") (OTC Bulletin Board: OXBC), the holding company for Oxford Bank ("the Bank"), announced today that Senior Vice President & Chief Financial Officer, Richard K. Miller, will be retiring in 2023.
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OppFi Upsizes Credit Facility with Affiliates of Atalaya Capital Management to $200 Million
June 21, 2022OppFi Inc. (NYSE: OPFI) ("OppFi” or the “Company”), a leading financial technology platform that powers banks to help the everyday consumer gain access to credit, today announced the Company has more than doubled one of its existing credit facilities with affiliates of Atalaya Capital Management LP (“Atalaya”) to $200 million.
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Lookout Builds Momentum With Continued Strong Results
June 21, 2022Lookout, Inc., a leader in endpoint and cloud security solutions, today announced strong momentum after growing enterprise annual recurring revenue (ARR) by 56% year-over-year for FY 2022 ending January 31, 2022, while substantially increasing its customer count. The Company also secured debt financing for up to $150 million from funds and/or accounts managed by BlackRock to support its continued growth.
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KKR Partners with Veteran CEO Andy Silvernail to Pursue Acquisition Opportunities in the Americas
June 21, 2022-KKR, a leading global investment firm, announced today that it is partnering with Andrew K. “Andy” Silvernail, the former Chairman and CEO of Madison Industries and IDEX Corporation, to pursue new acquisition opportunities. Mr. Silvernail will work alongside KKR as an Executive Advisor to evaluate Americas investment opportunities across multiple sectors, including industrials, health care, and consumer products.
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U.S. Physical Therapy Announces Closing of New Credit Facility
June 21, 2022U.S. Physical Therapy, Inc. ("USPH" or the “Company”) (NYSE: USPH), a national operator of outpatient physical therapy clinics and provider of industrial injury prevention services, today announced the closing of a $325 million, five-year credit facility that includes a $150 million term loan and a $175 million revolver.
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REV Capital Launches REV Tech as Part of its Mission to Reinvent Factoring
June 21, 2022REV Capital, the leading provider of factoring and cashflow financing in Canada and the United States announces the launch of REV Tech. This new subsidiary demonstrates REV Capital’s commitment to investing in technology as part of its mission to reinvent factoring. Appointed as Chief Operating Officer of REV Tech is Bheesham Singh, an industry veteran who has spent the past 20 years driving profitability for his clients.
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Republic Business Credit Provides a $5.5 Million Ledgered Line of Credit to a Texas-Based Oil Field Service company
June 21, 2022When a Texas-based manufacturing company needed a working capital facility to meet increased demand in the energy sector, they sought a trusted and reliable partner to fuel their growth plans. Republic Business Credit collaborated with private equity sponsors to structure a factoring facility that doubled their availability while maintaining the treasury management services as the incumbent bank.
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FireAngel Secures Standby Letter of Credit Facility
June 20, 2022FireAngel Safety Technology Group PLC - Coventry-based home safety products maker - Agrees standby letter of credit facility with its bank HSBC UK Bank PLC and UK Export Finance, up to a combined sum of GBP3.5 million.
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U.S. Banks Expect a Clean Bill of Health After Fed's Stress Tests
June 20, 2022Large U.S. banks are optimistic they will receive a clean bill of health from the Federal Reserve this week, freeing them up to distribute billions of dollars in excess capital to investors. The central bank on Thursday will release the results of its annual bank "stress tests" which assess how much capital banks would need to withstand a severe economic downturn.
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High-Precision Manufacturing Equipment Offered in June 29 Online Auction By Tiger Group and Southern Fabricating Machinery
June 20, 2022Manufacturers and buyers working in the aerospace, defense, oil and gas and automotive industries can acquire mills, lathes, grinders, CNC turning centers and other remaining assets from closed aerospace plant in Fairfield, N.J.; bidding begins June 22
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Paul Hastings Expands London PE and M&A Platform With the Addition of Prominent M&A/Private Equity Partner Tom Cartwright
June 20, 2022Paul Hastings LLP, a global law firm advising leading financial institutions, asset managers and corporations, announced today that private equity and M&A specialist Tom Cartwright has joined the firm as a partner based in London. He joins from Morgan Lewis and adds firepower to the Firm's fast-growing London office, which has increased revenue by 41% over the last year on the back of strong demand in its Private Equity, Finance, Structured Credit and Securities & Capital Markets practices.
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