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Hilco Global announced today that long time Bank of America executive Betsy Ratto will join the Hilco Global team as Senior Vice President of Capital Solutions with responsibility to drive business for ReStore Capital and Hilco Corporate Finance.
In this new role, Ms. Ratto will be responsible for originating and executing corporate finance and capital markets transactions, with focus on the retail industry and other financing transactions. Ms. Ratto will be based in Hilco’s Boston office and will work on identifying and originating lending/investment opportunities through Hilco Global’s and her own existing network of professional contacts and relationships, including investment banks, private equity firms and hedge funds.
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TSL Express Daily Headlines & News
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Ares Commercial Finance Has Provided a $20 Million Senior Secured Revolving Line of Credit to Trading Technologies International, Inc.
August 10, 2021Ares Commercial Finance (“ACF”) announced that it has provided a $20 million senior secured revolving line of credit to Trading Technologies International, Inc. The company, headquartered in Chicago, IL, provides trade execution software, infrastructure, and data services in futures, options and fixed income with global scale and connectivity to all major markets and exchanges worldwide. Proceeds from the financing will be used to support general working capital needs.
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Harbor Raises Funds From Makerdao Unlocking Defi’s Full Potential in Trade Finance
August 10, 2021Harbor announced Tuesday they have raised funds from MakerDao to finance global trade using decentralized finance (DeFi) liquidity. MakerDao is investing in Harbor’s portfolio by providing a line of credit backed by a securitization pool of trade receivables. MakerDAO is a decentralized autonomous organization (DAO) which maintains and regulates the Dai stablecoin and is the first example of decentralized finance to receive significant adoption.
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Crescent European Specialty Lending Announces Unitranche Financing & Equity Co-Investment for Management Buyout of Texecom Ltd Supported By LDC
August 10, 2021Crescent Capital Group LP, a leading alternative credit investment firm, announced today that its European Specialty Lending strategy has provided unitranche financing and an equity co-investment to support the management buyout of Texecom Ltd, which was supported by LDC, the U.K.-based private equity arm of Lloyds Banking Group. Terms of the financing were not disclosed.
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Bessemer Investors Acquires Stake in Legacy Restoration
August 10, 2021Legacy Restoration ("Legacy" or the "Company"), a leading provider of exterior restoration and remodeling services, and Bessemer Investors LLC ("Bessemer"), a New York-based investment firm, announced today that Bessemer has acquired Legacy. Bessemer has partnered with Legacy's management team to provide liquidity to selling shareholders and capital to support the Company's growth through organic initiatives and acquisitions. Founder and CEO, Scott Mullins, and Legacy's management team will continue leading the Company as a stand-alone platform. Financial terms of the transaction were not disclosed.
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Organogenesis Holdings Inc. Announces New $200 Million Credit Agreement with Silicon Valley Bank
August 10, 2021Silicon Valley Bank acted as Administrative Agent and Bookrunner on the Facilities with Bank of America, N.A., Citizens Bank N.A., and PNC Capital Markets LLC each as Joint Lead Arrangers.
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J.P. Morgan Asset Management Expands Private Credit Platform, Hires Co-Heads of Global Performing Credit
August 10, 2021J.P. Morgan Asset Management today announced the expansion of its private credit platform and appointment of Vincent Lu and Brian Van Elslander as co-heads of the newly formed Global Performing Credit group. Mr. Lu and Mr. Van Elslander bring extensive experience in private credit and private equity sponsor coverage to the roles (full bios included below). The two new hires report to Meg McClellan, Head of Private Credit at J.P. Morgan Private Capital.
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B. Riley Expands Fixed Income Division; Names Tim Sullivan Head of Fixed Income
August 10, 2021B. Riley Financial, Inc. (NASDAQ: RILY) (“B. Riley”), a diversified provider of business advisory and financial services, today announced that Tim Sullivan has agreed to join the firm as Head of Fixed Income with B. Riley Securities, Inc.
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Quantum Successfully Completes Debt Refinancing
August 9, 2021Quantum Corporation (NASDAQ: QMCO) announced today it has completed the refinancing of its senior secured term loan. Following a competitive proposal process, the Company remained with affiliates of the existing lenders and replaced the existing term loan facility with a new $100 million senior secured term loan that matures in 2026.
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Bed Bath & Beyond Improves Terms, Increases Flexibility & Extends Asset-Based Revolving Credit Facility, Further Enhancing Financial Position
August 9, 2021Bed Bath & Beyond Inc. (Nasdaq: BBBY) today announced it has amended its asset-based revolving credit facility ("ABL Facility"). The revised and expanded ABL Facility increases the Company's capacity from $850 million to $1.0 billion with improvements to borrowing terms and financial covenants. Among other things, this amendment reflects an improved cost structure and the amended agreement extends the original expiration date of 2023 to 2026.
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ING Leads $300 Million Expanded Syndicated Financing for Precious Metals Merchant Auramet
August 9, 2021ING Capital LLC ("ING") led a $300 million syndicated financing on behalf of Auramet Trading and Auramet International (collectively, "Auramet"), a precious metals merchant. ING acted as Mandated Lead Arranger, Bookrunner and Administrative Agent on the oversubscribed deal, which closed on July 30, 2021, and an increase over the previous facility of $235 million. In addition to ING, the lending group included Rabobank acting as Lead Arranger, as well as HSBC Bank USA N.A., Macquarie Bank Limited, Brown Brothers Harriman & Co, Mizuho Bank, Ltd, CIBC Bank USA and Bank of China.
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Winston & Strawn Represents Frontenac Company
August 9, 2021Winston & Strawn represented Frontenac Company, a Chicago-based private equity firm, in the sale of Whitebridge Pet Brands to NXMH, a Belgium-based family-owned investment firm. Whitebridge is a leader in natural and minimally processed pet foods, complements, treats, and supplements.
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Sallyport Commercial Finance, LLC Provides $1,750,000 Funding for Hospitality Services Supplier
August 9, 2021The client was referred to Sallyport from a trusted contact in its CPA network. A customized package of accounts receivable financing, equipment finance and a term loan were tailored to the client which enabled them to settle their obligations with their exiting lender and increase working capital, leaving them free to focus on expansion into new markets through the acquisition of complementary businesses.
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H.I.G. Capital Makes a Strategic Investment in The Bluebird Group
August 9, 2021H.I.G. Capital ("H.I.G."), a leading global alternative investment firm with $45 billion of equity capital under management, is pleased to announce that one of its affiliates has made an equity investment in The Bluebird Group (“Bluebird” or the “Company”), an innovative retail services consulting firm. Founded in 2015, Bluebird provides emerging and category-leading brands with outsourced retail services required to optimize online and in-store sales.
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Gordon Brothers Launches Sale of Automotive Seat Manufacturing Assets
August 9, 2021Gordon Brothers, the global advisory, restructuring and investment firm, has been appointed as sole asset selling agent for car seat manufacturer, TS Tech UK Ltd (TS Tech), in Swindon. This specialised sale presents the opportunity to acquire state-of-the-art automotive seat manufacturing equipment.
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Ares Management Corporation Leads £1 Billion of Available Debt Facilities to RSK Group in Largest Sustainability Linked Private Credit Financing to Date
August 9, 2021Ares Management Corporation (“Ares”) (NYSE: ARES) announced today that funds managed by its European Direct Lending strategy are serving as the sole lenders of £1 billion of available debt facilities to the RSK Group (“RSK”), the U.K.’s largest privately-owned multi-disciplinary environmental business. This transaction marks the largest private credit-backed sustainability linked financing to date and will be used to refinance RSK’s existing credit facilities as well as support its continued organic and inorganic growth plans.
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Republic Launches Technology Finance Program
August 9, 2021Republic Capital Access, LLC has entered into an arrangement with the newly formed partnership of Northpoint Commercial Finance and Reed Advisory Solutions LLC to provide financing for sellers of technology products to the U.S. Government.
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Marble Financial Executes Definitive $10 Million Credit Facility Agreement With Cypress Hills Partners Inc., to Fund Its Fast-Track Loan Product
August 9, 2021Marble Financial Inc. (CSE: MRBL; OTCQB: MRBLF; FSE:2V0) (“Marble” or the “Company”) an AI-driven financial technology company that educates and helps Canadians better understand and manage their current cash flow and credit towards a better financial future, is pleased to announce it has entered into an arm’s length definitive credit facility agreement (“Credit Agreement”) with CHP Agent Services Inc., a subsidiary of an independent, non-affiliated Canadian based alternative specialty lender, Cypress Hills Partners Inc. (“CHP”).
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Meritage Completes New $302 Million Credit Facility; Positioning for Long-Term Growth
August 9, 2021Meritage Hospitality Group Inc. (OTCQX: MHGU), the nation’s premier franchise operator, today announced that the Company and certain of its subsidiaries have in advisory with Auspex Capital, closed on a new $302.8 million senior secured credit facility syndication led by City National Bank.
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Stonebriar Commercial Finance Closes $10.2 Million Loan
August 9, 2021Stonebriar Commercial Finance (“Stonebriar”) today announced the closing of a $10.2 million term loan with a premier Jones Act marine transportation and logistics services company. The loan represents Stonebriar’s third transaction with the borrower and its affiliates with total funded volume approximating $80 million. The loan proceeds were used for general corporate purposes. Consistent with the client’s required timeline, the transaction closed in less than 30 days.
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Boxed Announces New $45 Million Secured Credit Facility Provided by Funds and Accounts Managed by BlackRock
August 9, 2021Boxed, an e-commerce grocery platform selling bulk consumables to households and businesses, and an e-commerce enabler selling software and services to enterprise retailers around the world, announced today that it has entered into a new $45 million secured credit facility (“New Credit Facility”) provided by funds and accounts managed by BlackRock. The New Credit Facility will mature on August 4, 2025, and is secured by all of the assets of Boxed and its subsidiaries, subject to customary exceptions.
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