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UPSTACK Secures $100M from MidCap Financial and Morgan Stanley Private Credit
UPSTACK, a profitable, fast-growing platform that transforms the architecture and sourcing experience for businesses seeking cloud and internet infrastructure solutions, announced today it has secured $100 million in financing from MidCap Financial and Morgan Stanley Private Credit. MidCap Financial is the Administrative Agent, Sole Arranger and Sole Bookrunner.
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Body and Mind Closes US$11.1 Million Debt Financing
July 20, 2021Body and Mind Inc. (CSE: BAMM) (OTCQB: BMMJ) (the "Company" or "BaM"), a multi-state operator, is pleased to announce that it has closed a US$11.1 million debt financing (the "Loan") with related entities to FocusGrowth Asset Management, LP (collectively, "FGAM").
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Business Capital Delivers $40 Million Senior Secured Credit Facilities for Branded Cheese and Almond Producer
July 20, 2021BizCap® (Business Capital since 2002) structured and secured multi-tranche credit facilities for one of the largest branded cheese producers and processors in California. In business for over 75 years, the family-owned company is one of the most respected and recognized brands sold to over 80 retailers across the US and Mexico, including Costco, Wal-Mart, Sprouts and Kroger.
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Winston & Strawn Represents Omnichannel Acquisition Corp.
July 20, 2021Winston & Strawn represented Omnichannel Acquisition Corp. (NYSE: OCA) (“Omnichannel”), a publicly-traded special purpose acquisition company led by serial entrepreneur Matt Higgins and a deep bench of consumer operators, in its business combination with Kin Insurance, Inc. (“Kin”), an insurance technology company that makes home insurance easy and affordable.
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LSQ Provides $4.75MM for Existing Client Acquisition
July 20, 2021LSQ, a leading provider of working capital solutions, announced the origination of two facilities totaling $4.75 million for an existing client. The Pennsylvania-based marketing agency required sufficient cash to execute the acquisition of a business that would expand its capabilities. The business, however, was overleveraged and carried an over advance with a separate factoring company.
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Bridge Bank Extends a $5 Million Monthly Recurring Revenue Line of Credit Facility to One Medical Passport
July 20, 2021Bridge Bank today announced its Boston-based Technology Banking Group has extended a $5 million monthly recurring revenue (MRR) line of credit to One Medical Passport (1MP), a provider of software that helps ambulatory surgery centers and hospitals streamline their systems. The line of credit is expected to provide the company with additional capital to bolster its growth in the ambulatory surgical software space.
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RLH Equity Partners Announces New Hires
July 20, 2021RLH Equity Partners (RLH), a leading middle market private equity investment firm focused on high growth enterprises, is pleased to announce the addition of two individuals to the firm — Mark Gartner as a Principal focused on Investment Development and Madeline Ganey as an Associate.
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Star Mountain Capital Names Bob Shettle, Former Co-Head of Barings ($325 bn AUM) North American Private Finance Group, as Managing Director
July 20, 2021Bob Shettle, former Co-Head of North American Private Finance & Chairman of the North American Mezzanine and Private Finance Investment Committees at Barings LLC, MassMutual’s $325+ billion AUM investment management subsidiary, has joined Star Mountain Capital as a full-time senior member of the investment team.
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Pemberton Creates Private Debt Opportunities for Wealth and Asset Managers to Meet Demand From Wider Investor Pool
July 20, 2021Pemberton, a European private credit manager backed by one of Europe’s largest insurers, Legal & General Group PLC, has launched the ‘Pemberton Wealth & Asset Management Solutions’, a new initiative aimed at providing the world’s leading wealth and asset managers, and in turn their clients, with access to some of the best private debt opportunities in Europe.
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Alterna Capital Solutions to Support Deal Origination for Affiliate’s Private Equity Fund
July 20, 2021Alterna Capital Solutions (ACS), a specialty and alternative financier to high-growth small businesses, today announced it will support deal origination for a lower middle market private equity fund controlled by its affiliate, Alterna Equity Partners (AEP). The fund focuses on control and non-control investments in founder-owned and family-owned operating companies with $1 million to $10 million in EBITDA. The collaboration between the firms allows AEP to leverage the national client base of ACS, while enabling ACS to offer additional value to its clients.
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ThermoCredit Creates Credit Facility for ASC Partners
July 20, 2021ThermoCredit LLC, a funding and fintech company, has created a $250,000 line of credit for ASC Partners to fund the growth of their other business interests. Thermo Credit LLC has entered into an agreement with ASC Partners to provide a rapid access credit facility. The $250,000 factoring facility has been created for ASC Partners to continue growth of other business interests.
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Veteran Investment Banker David Hirschfield Joins Ravinia Capital as Managing Director
July 20, 2021Ravinia Capital LLC, a boutique investment bank, announced today that veteran investment banker David Hirschfield is joining the firm as Managing Director, effective immediately. David has closed more than 150 transactions during his three and a half decades and counting of experience in sales, restructurings, and debt and equity raises, and is a recognized expert in middle-market M&A.
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Joanne Choi Joins Lazard Asset Management as Chief Marketing Officer
July 20, 2021Lazard Asset Management (LAM) announced today that Joanne Choi has joined the firm as a Managing Director and Chief Marketing Officer, effective immediately. Based in New York, Ms. Choi joins from Goldman Sachs Asset Management, where she was Head of Global Marketing.
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Alignment Credit Provides Acquisition Financing to MindCare’s Acquisition of TriCounty Tele Behavioral Services
July 20, 2021Alignment Credit, a leading provider of strategic credit solutions for emerging growth and middle-market companies, acted as the sole lead arranger and administrative agent on up to $20.0 million senior secured credit facilities for MindCare Solutions Group, Inc. (“MindCare”), in order to support MindCare’s acquisition of TriCounty Tele Behavioral Services, LLC (“TriCounty”) and other strategic initiatives.
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H.I.G. WhiteHorse Closes Latest Direct Lending Fund at $1.65 Billion
July 20, 2021H.I.G. WhiteHorse, the credit affiliate of H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $44 billion of equity capital under management, announced the closing of its latest direct lending strategy, H.I.G. WhiteHorse Direct Lending Fund - 2020 (the “Fund”). The Fund closed with aggregate capital commitments of approximately $1.65 billion,* well exceeding its target.
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Skillsoft Successfully Completes Debt Refinancing to Support Growth
July 20, 2021Skillsoft Corp. (NYSE: SKIL) (“Skillsoft” or the “Company”), a global leader in corporate digital learning, today announced it has successfully completed its previously announced debt refinancing. The Company has closed a new $480 million senior secured term loan B facility. This facility, along with cash on hand, will be used to refinance and repay the Company’s existing term loan facilities, thereby reducing long-term debt by approximately $130 million.
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IDS and Tamarack Ink Partnership to Drive Continued Momentum of IDScloud Adoption
July 20, 2021IDS, a leading provider of mission-critical enterprise solutions for secured finance today announced it has signed a strategic partnership agreement with Tamarack Technologies, Inc., a leading provider of digital transformation services and solutions for equipment finance. The partnership will capitalize on the increasing demand for IDScloud and accelerate the migration of equipment finance firms to the leading end-to-end SaaS solution for equipment finance.
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Entrepreneur Growth Capital Provides $5MM ABL
July 20, 2021Entrepreneur Growth Capital (“EGC” or “Entrepreneur”) is pleased to announce that it has provided a $5,000,000 asset-based line of credit to a New York-based electronics manufacturer and distributor (the “Company”).
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King Trade Capital Provides a $5 Million Import Finance Facility for Food Products Company
July 20, 2021King Trade Capital (“KTC”) is pleased to welcome back a client from 12 years ago by providing a $5 million import finance facility with an accordion feature to expand to $10 million. The owner/founder of a very successful food products company reached out to King Trade Capital founder, Edward King, to discuss the happy yet surprising doubling of their sales in 2021.
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Gateway Trade Funding Provides a Purchase Order Facility to an Outdoor Clothing Company
July 20, 2021Gateway Trade Funding, a PO and Trade Financing company, is happy to announce that we recently funded a purchase order facility to an outdoor clothing company. Trew Gear, known for their snow bibs and stylish outdoor clothing, was growing their business and developing a deeper relationship with one of their main customers.
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Winston & Strawn Represents the Placement Agents, Citigroup Global Markets Inc. and UBS Investment Bank in Connection with Gelesis, Inc.
July 20, 2021Winston & Strawn represented the placement agents, Citigroup Global Markets Inc. and UBS Investment Bank in connection with Gelesis, Inc. (“Gelesis” or the “Company”), a biotherapeutics company advancing biomimetic superabsorbent hydrogels to treat excess weight and metabolic disorders, and Capstar Special Purpose Acquisition Corp. (NYSE: CPSR) (“Capstar”), a special purpose acquisition company sponsored by affiliates of Capstar Partners, LLC and certain private funds managed by PIMCO, business combination agreement.
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