- GA Advisory & Valuation Services Launches CFO Advisory Practice and Appoints Kimberly Leighton as Managing Director
- Gibraltar Business Capital Closes $12.5M Revolving Credit Facility with Sharebite
- Latham Represents Trinseo in Restructuring Approximately US$3.0 Billion of Funded Debt
- Eagle Business Credit Names Daniel Krasna as National Sales Manager Expanding National Sales Leadership to Support Continued Growth
- Siena Lending Group and Hilco Global Close $130 Million Strategic Financing with Panavision
TSL Express Daily Articles & News
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Blue Owl Capital Announces Agreement to Acquire Wellfleet Credit Partners from Littlejohn & Co.
Blue Owl Capital Inc. ("Blue Owl") (NYSE: OWL) announced today it has entered into a definitive purchase agreement to acquire Wellfleet Credit Partners LLC ("Wellfleet") from affiliates of Littlejohn & Co., LLC ("Littlejohn"). The transaction is expected to close in March 2022 and is subject to customary closing conditions. The purchase price consists of upfront and earnout payments, which will be primarily funded by cash. Upon closing, Wellfleet will become part of Blue Owl's Owl Rock division, reporting into Craig Packer, Co-Founder and a Senior Managing Director of Blue Owl.
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Main Street Announces Follow-On Investment
December 16, 2021Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that it recently completed a follow-on investment in an existing portfolio company. Main Street, along with its co-investor, made the follow-on investment in Hawk Ridge Systems, LLC ("Hawk Ridge" or the "Company") to support the Company's acquisition of a complimentary leading value-added reseller of SolidWorks software solutions and Markforged 3D printing solutions in a new geographic area that is highly complementary to Hawk Ridge's existing geographies ("Acquired Company"), and to provide financing for the Company's continued internal growth initiatives.
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Citizens Financial Group Expands M&A Advisory Team with DH Capital Acquisition
December 16, 2021Citizens Financial Group, Inc. (NYSE: CFG) today announced a definitive agreement to purchase substantially all of the assets of DH Capital LLC, a private investment banking firm serving companies in the Internet infrastructure, software and next generation IT services, and communications sectors. This transaction, which follows several recent moves by Citizens to add key talent and solutions, further strengthens Citizens’ growing corporate advisory capabilities.
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Ares Management Corporation Raises $2.2 Billion of Climate Infrastructure Capital
December 16, 2021Ares Management Corporation (“Ares”) (NYSE: ARES), a leading global alternative investment manager, announced today that it has raised $2.2 billion of dedicated climate infrastructure capital, comprising its inaugural Ares Climate Infrastructure Partners Fund (“ACIP” or the “Fund”) with approximately $1.4 billion in total raised, and $800 million in related transaction vehicles.
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LiquidX Joins RiskStream Collaborative™ Blockchain Working Group to Streamline Surety Bonds Power of Attorney Verification
December 16, 2021LiquidX, the global fintech solutions provider for working capital, trade finance, and trade credit insurance, has joined The Institutes RiskStream Collaborative™, the risk management and insurance industry’s largest enterprise-level blockchain consortium, and will participate in a working group serving the surety industry. The aim of the working group is to streamline and digitize the power of attorney registration and verification process using blockchain technology.
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Great Rock Capital Closes $27.9MM Senior Secured Term Facility with GT Technologies
December 15, 2021Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced the closing of a $27.9 million senior secured term loan facility with GT Technologies (“GTT”), a manufacturer of custom-engineered valvetrain components and assemblies for the global automotive, heavy-duty truck, and off-road vehicle industries.
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Resolute Completes Amendment and Extension of Its ABL Credit Facility
December 15, 2021Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP) today announced a reset of the five-year maturity of its senior secured asset-based revolving credit facility ("ABL credit facility") with an aggregate lender commitment of up to $450 million at any time outstanding, subject to borrowing base availability based on specified advance rates, eligibility criteria and customary reserves. The facility also includes an Environmental, Social and Governance ("ESG") module with targets to be agreed upon with the bank syndicate, which upon activation will impact ABL pricing.
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SFNet Submits Comment Letter to CFPB Pertaining to Section 1071 of Dodd Frank
December 15, 2021
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Access Capital Provides $1 Million Credit Facility to Provider of Life Sciences & Engineering Talent
December 15, 2021Access Capital is pleased to announce that a new borrower has recently joined the Access Capital portfolio. The client is a provider of life science and engineering talent located in New York City. The company is a US start-up recently formed by its parent, Tempting Ventures Limited, a staffing sector focused investment firm based in the UK and led by Ryan Cleland-Bogle.
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Evolus Enters Into $125 Million Credit Facility with Pharmakon Advisors
December 15, 2021Evolus, Inc. (NASDAQ: EOLS), a performance beauty company with a customer-centric approach focused on delivering breakthrough products, today announced that it has entered into a $125 million term loan financing facility with funds managed by Pharmakon Advisors, L.P.
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Winston & Strawn Represents LAACO, Ltd.
December 15, 2021Winston & Strawn represented LAACO, Ltd. (LAACO), the owner of the Storage West brand of 59 self-storage facilities, in its sale to CubeSmart (NYSE: CUBE) for approximately $1.69 billion, which includes approximately $40.9 million of LAACO debt that will be repaid at, or shortly after, the closing. Storage West is the owner and operator of 59 self-storage assets in the highly desired western markets of Southern California (22), Phoenix (17), Las Vegas (13), and Houston (7).
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White Oak Commercial Finance Provides $15 Million Factoring Facility to Automotive Aftermarket Parts Supplier
December 15, 2021White Oak Commercial Finance, LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC, announced it provided a $15 million factoring facility to a supplier of parts for the automotive aftermarket. The transaction was structured against the company’s accounts receivable, and the proceeds will be used to support its rapid growth and working capital.
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CREtelligent Secures $10 Million Credit Facility From Espresso Capital
December 15, 2021Espresso Capital announced today that it has provided CREtelligent, a one-stop commercial real estate (CRE) due diligence platform, with a $10 million credit facility. The company will use the capital to extend its runway and make strategic investments in its ongoing growth.
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CIT Provides $6.3 Million Financing to Diamond Communications LLC
December 15, 2021CIT Group Inc. (NYSE: CIT) today announced that its Middle Market Banking business provided $6.3 million to refinance corporate office properties for Diamond Communications LLC.
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Public Finance Attorney Shaney B. Lokken Joins Hunton Andrews Kurth in Continued Expansion of Firm’s Atlanta Presence
December 15, 2021Shaney B. Lokken, a public finance attorney with two decades of experience representing issuers, borrowers, underwriters and purchasers in a wide range of transactions, has joined Hunton Andrews Kurth LLP as a counsel in Atlanta.
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J.P. Morgan Global Alternatives Builds Out Private Credit Team, Doubles Commercial Mortgage Loan Assets
December 15, 2021J.P. Morgan Global Alternatives today announced the appointment of Raphael Gonzalez as a Managing Director and Senior Investment Specialist across commercial mortgage loans, infrastructure debt and direct lending.
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Umpqua Bank 2022 Outlook Report: Strong M&A Activity to Continue as Businesses Capture Innovation, Bolster Pricing Power
December 15, 2021Umpqua Bank today released its 2022 economic outlook report for small and middle market companies, "Headwinds & Opportunities: Economic Trends & Predictions for Businesses in 2022." The bank tapped prominent West Coast economists and Umpqua Bank thought leaders to examine key issues that will shape the 2022 economic landscape, their impact on decision-making, and what businesses can do to meet both challenges and opportunities with confidence.
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Magnolia Financial Hires Larry Artman as Senior Vice President and Expands Into Atlanta with a Regional Sales Office
December 14, 2021Magnolia Financial has announced the opening of a regional sales office in Atlanta, GA to expand its presence in the southeast. The Spartanburg-based company also announced that industry veteran Larry Artman has returned to Magnolia to head its new office. With over 30 years’ experience in Commercial Finance, Artman will serve as Senior Vice President and lead Magnolia’s Originations and Business Development efforts throughout Georgia, Alabama, and Tennessee.
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eCapital Provides $15MM Asset Based Lending Credit Facility to Dallas-Based Frozen Foods Manufacturer
December 14, 2021eCapital Commercial Finance’s (“eCapital”) Asset Based Lending division today announced the issuance of a $15,000,000 asset based lending credit facility to a Dallas-based frozen foods manufacturer.
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Gateway Trade Funding Partners with a Factoring Company to Provide a $750,000 Purchase Order Facility to a Consumer Goods Company
December 14, 2021A relatively new consumer goods company focusing on personal mobility products was working with a factoring company. They received a large order from a big-box retailer with challenging terms. Due to recent supply chain delays, the customer refused to issue a firm purchase order until the goods arrived in the US. Their factoring company recommended working with Gateway Trade Funding to find a way to accept the order.
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Fifth Third Business Capital Provides $9.8 Million Senior Credit Facility to Promise to Perform Industries
December 14, 2021Fifth Third Business Capital announced it provided $9.8 million senior credit facility to Promise to Perform Industries, Inc. to support management buyout in October 2021.
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