- Old Glory Bank Has Another Successful Capital Raise from Main Street Investors
- Ares Raises $4.2 Billion for Inaugural Global Structured Solutions Strategy
- Fortress Investment Group Leads $265 Million Financing for Advanced Computing Infrastructure Provider SourceCode
- Otilia Ciotau Joins VSS Capital Partners as Managing Director, AI and Value Creation
- Briar Capital Real Estate Fund Provides $3.5MM Real Estate Loan to an Ohio-Based Food Products Company
TSL Express Daily Articles & News
To submit company news and press releases to TSL Express, email tslexpress@sfnet.com.Today's Top Story
Featured
Cambridge Savings Bank Provides Modera Wealth Management with $26 Million Financing Package to Power M&A Growth, Build Out Employee Equity Strategy
Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, today announced that its Commercial Lending team provided a $26 million financing package over the life of the relationship, including both a refinance of existing debt and new debt, to Modera Wealth Management, LLC (MWM) and individual members of its ownership group.
TSL Express Trending Story
Featured
LIBOR Phase-Out: Considerations for Oil & Gas Companies
With over $370 trillion of global financial contracts referencing LIBOR (London Inter-bank Offered Rate), many oil and gas companies are curious about how the phase-out of LIBOR by 2021 could impact their organization. Many companies are beginning to ask how this transition will impact their organization and what steps can be taken now. The following is a discussion of:
- why LIBOR is being phased out;
- the transition plan for the phase-out;
- items companies should consider; and the steps that can be taken now.
TSL Express Daily Headlines & News
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Evolent Health To Acquire IPG
June 29, 2022Evolent Health, Inc. ("Evolent" or "the Company") (NYSE: EVH) today announced that it has entered into a definitive agreement to acquire IPG, a leading technology and services company providing surgical management solutions for musculoskeletal conditions, from TPG Growth, the middle market and growth equity platform of alternative asset firm TPG, for $375 million plus additional contingent consideration of up to $87 million.
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SLR Healthcare ABL Announces Financing
June 29, 2022SLR Healthcare ABL announced it has provided a $6 million asset-based revolving line of credit to a skilled nursing operator.
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B&G Foods Announces Credit Agreement Amendment
June 28, 2022B&G Foods, Inc. (NYSE: BGS) announced today that it has completed an amendment to its senior secured credit facility to temporarily increase the maximum consolidated leverage ratio permitted under its revolving credit facility.
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Matthew J. Simon Joins Moritt Hock & Hamroff Real Estate Practice Group
June 28, 2022The law firm of Moritt Hock & Hamroff has announced that Matthew J. Simon has joined the firm as Counsel in the Real Estate Practice Group, resident in the New York City office.
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Republic Business Credit Provides $1.25 Million Traditional Factoring Facility for Novel Wristwatch, Accessory Company
June 28, 2022When a Los Angeles-based consumer packaged goods distributor sought funding to underpin its initial growth for spring orders, the company selected Republic Business Credit. Republic approved a scalable, traditional factoring facility to support the accessory company’s expected growth, fulfill initial orders and provide cushion for summer demand.
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FocalPoint Advises Apex Innovative Sciences on its Sale to CenExel
June 28, 2022CenExel Clinical Research, Inc. (“CenExel”) completed the acquisition of Apex Innovative Sciences ("Apex"), parent company of Collaborative Neuroscience Research ("CNS") and Hassman Research Institute ("HRI"), which will be renamed as “CenExel CNS” and “CenExel HRI”, respectively. Bison Capital, a growth-oriented private equity group, completed a minority investment in Apex in 2019. FocalPoint Partners ("FocalPoint") served as exclusive financial advisor to Apex on its initial capital raise and on the company's sale to CenExel.
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Citizens Advises New State Capital on its Acquisition of Patuxent Roofing and Contracting
June 28, 2022Citizens M&A Advisory announced today that it served as the financial advisor to New State Capital on its acquisition of Patuxent Roofing and Contracting, an independent provider of re-roofing installation and services.
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Gridiron Capital Expands its Team of Operating Partners With the Addition of Barry Dark
June 28, 2022Gridiron Capital, LLC, an investment firm focused on partnering with founders, entrepreneurs, and management teams, is pleased to announce that Barry Dark has joined the team as an Operating Partner and CEO in Residence. As Gridiron’s newest Operating Partner, Barry’s extensive experience with tech-enabled business services companies will be a resource for partnership companies as we continue to develop and strengthen our Gridiron Centers of Excellence.
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UMB Healthcare Services Announces Agreement to Acquire HSA Business from Old National Bank
June 28, 2022UMB Bank, n.a., a subsidiary of UMB Financial Corporation (Nasdaq: UMBF), is pleased to announce the execution of a definitive agreement to acquire the health savings account (HSA) business of Old National Bank, a wholly owned subsidiary of Old National Bancorp (Nasdaq: ONB).The transaction contemplates the transfer of approximately $500 million in client assets of which approximately $400 million are held in deposit accounts.
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Ares Management Corporation Announces the Release of its Inaugural TCFD Climate Action Report and Annual Sustainability Report
June 28, 2022Ares Management Corporation (“Ares”) (NYSE: ARES), a leading global alternative investment manager, announced today the release of its first-ever TCFD Climate Action Report alongside its annual sustainability report titled Accelerating Our Impact.
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Rand Capital Secures $25 Million Senior Secured Credit Facility to Support Future Investments
June 28, 2022Rand Capital Corporation (Nasdaq: RAND) (“Rand” or the “Company”), a business development company providing alternative financing for lower middle market companies, announced the closing of a $25 million senior secured revolving credit facility. The funds are expected to be used for future portfolio investments. This new senior secured credit facility was provided by M&T Bank.
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FLEETCOR® Completes Credit Facility Extension and Upsizing
June 27, 2022Bank of America, N.A. is the Administrative Agent and Bank of America, N.A., MUFG Bank Ltd., PNC Bank, N.A., TD Bank, N.A. and Wells Fargo Bank, N.A. served as joint lead arrangers and co-syndication agents in connection with the transaction. Bank of Montreal, Capital One, N.A., Fifth Third Bank, N.A., Mizuho Bank, Ltd, Regions Bank, The Bank of Nova Scotia and Citizens Bank, N.A served as co-documentation agents. Barclay’s Bank, PLC and Royal Bank of Canada served as co-managing agents.
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Mallory Briggs Named a 40 Under 40 2022 Award Recipient by Secured Finance Network
June 27, 2022Blank Rome associate Mallory M. Briggs was named a 40 Under 40 2022 award recipient by the Secured Finance Network ("SFNet"). Established in 2016, the SFNet's 40 Under 40 is an annual recognition that celebrates the "achievements of young professionals in the secured finance industry — movers and shakers who exemplify true excellence in their careers and who also contribute to their communities and the industry as a whole."
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Producers Midstream II Announces New $200M Secured Credit Facility
June 27, 2022Producers Midstream II, LLC ("Producers Midstream" or the "Company"), a Dallas-based portfolio company of Tailwater Capital focused on providing a full suite of turnkey midstream solutions to producers across the U.S., today announced that it has secured a new syndicated credit facility led by Texas Capital Bancshares, Inc., Bank of Oklahoma and Cadence Bank. The credit facility will allow the Company to borrow up to an additional $200 million assuming certain conditions are met.
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Rand Capital Secures $25 Million Senior Secured Credit Facility to Support Future Investments
June 27, 2022Rand Capital Corporation (Nasdaq: RAND) (“Rand” or the “Company”), a business development company providing alternative financing for lower middle market companies, announced the closing of a $25 million senior secured revolving credit facility. The funds are expected to be used for future portfolio investments. This new senior secured credit facility was provided by M&T Bank.
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Deerpath Capital Opens London Office to Serve European Investors
June 27, 2022Deerpath Capital Management, LP, the $4.5 billion private credit manager and one of the largest providers of customized, cash-flow based senior debt financing to lower-middle market companies across North America, today announced the launch of its newest international office in London, England.
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Mercuria Energy Trading S.A. Successfully Closes $2,177,500,000 Multi-Currency Revolving Credit Facilities
June 27, 2022Bank of China Limited, London Branch, Coöperatieve Rabobank U.A., Crédit Agricole Corporate and Investment Bank, Credit Suisse (Switzerland) Ltd., Emirates NBD Bank (P.J.S.C.), London Branch, Industrial Commercial Bank of China Limited, London Branch, ING Bank N.V., Mizuho Bank, Ltd., Natixis, Société Générale, Sumitomo Mitsui Banking Corporation, UBS Switzerland AG and UniCredit Bank AG acted as Bookrunning Mandated Lead Arrangers. D.Z.
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Kalli Perez Joins Iron Horse Credit as Portfolio Manager
June 27, 2022Iron Horse Credit (IHC), a leading stand-alone inventory lender, is proud to announce the addition of Kalli Perez to its team as portfolio manager. Kalli brings over 14 years of both account management and underwriting experience. In her role, Kalli will continue to service IHC’s new and long-lasting clients.
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PlainsCapital Bank Adds Three New Houston Commercial Lending Professionals
June 27, 2022PlainsCapital Bank recently welcomed Philip Ugalde, Jasmine Sadeghpour, and Daniel Wheeler as senior vice presidents and senior commercial loan officers in its Houston market. Ugalde and Sadeghpour will serve clients from PlainsCapital’s office at 2925 Richmond Avenue, while Wheeler will be in The Woodlands office at 1699 Research Forest Drive.
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Mazars Releases FY21 Quality Intelligence Report
June 27, 2022Mazars is pleased to announce the release of the FY2021 edition of the Mazars in the US Quality Intelligence Report. The report offers industry-leading transparency for Mazars’ clients and other stakeholders into how it conducts business and the ways the company promotes and monitors quality across the firm.
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