- Siena Lending Group Provides $60 Million in Working Capital Facilities to Taskmaster Components
- Gibraltar Business Capital Delivers $15MM Senior Secured Facility to Bolster Sampa USA’s Expansion
- Pathlight Capital Closes Fourth ABL Credit Fund and Second Evergreen Tranche With $1.9 Billion of Commitments
- Sallyport Commercial Finance Provides a $1 Million Factoring Facility for a Growing Canadian Manufacturer
- Seth Friedman of Abacus Finance Group Appointed to SBIA Board of Governors as Northeast Regional Chair
TSL Express Daily Articles & News
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Stealth BioTherapeutics Completes a $25 Million Debt Financing with Horizon Technology Finance
Stealth BioTherapeutics Corp (Nasdaq: MITO), a clinical-stage biotechnology company focused on the discovery, development, and commercialization of novel therapies for diseases involving mitochondrial dysfunction, today announced completion of a $25 million long-term debt facility led by Horizon Technology Finance Corporation (Nasdaq: HRZN) ("Horizon"). Stealth has drawn down $15 million under the facility with an additional $10 million available upon achievement of a predetermined milestone.
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InterNex Capital adds Heather Fidura as Business Development Officer – Vice President
May 25, 2021InterNex Capital, a technology driven lender to the lower middle market has hired Heather Fidura as a business development officer. Fidura will be based in Tampa, Florida and will focus on generating new business with InterNex’s suite of products including ABL, invoice finance, and term loans.
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Rob Russell Named President of Greystone Special Servicing
May 25, 2021Greystone, a leading national commercial real estate finance company, announced that Rob Russell has been appointed head of Greystone Special Servicing. As President of this group, Mr. Russell will focus on its continued growth and will further integrate special servicing with Greystone’s existing primary servicing division, led by Sharon Briskman.
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Argenta Enters $30 Million Product Financing Agreement with NovaQuest to Accelerate New Veterinary Product Development
May 25, 2021Argenta Limited (“Argenta”), the only global contract research organization (CRO) and contract development and manufacturing organization (CDMO) specializing in animal health, and NovaQuest Capital Management (“NovaQuest”) announced today a $30 million product financing agreement for the development of several innovative veterinary pharmaceuticals.
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Ares Management Corporation Announces Agreement to Acquire Black Creek Group
May 25, 2021Ares Management Corporation (“Ares”) (NYSE: ARES) announced today that a subsidiary of Ares has entered into a definitive agreement to acquire 100% of Black Creek Group’s U.S. real estate investment advisory and distribution business (“Black Creek”), a leading real estate investment management firm. Eastdil Secured, LLC acted as financial advisor to Ares and Latham & Watkins LLP served as legal counsel. Hodes Weill & Associates acted as financial advisor to Black Creek and Simpson Thacher & Bartlett LLP served as legal counsel.
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Boston Law Firm Cohn & Dussi Hires Two New Attorneys and New CFO/COO
May 25, 2021Cohn & Dussi, a full-service law firm with its principal office in Boston, is pleased to welcome three new employees to their team: two attorneys and a Chief Financial Officer/Chief Operating Officer. The firm specializes in Creditor’s Rights, Workouts and Bankruptcy, Equipment Finance and Leasing, Banking, Commercial Litigation and Real Estate Law.
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Wintrust Receivables Finance Closes $4 Million Line of Credit for Growing Transportation Company
May 25, 2021Wintrust Receivables Finance announced the closing of a new $4 million line of credit for a growing third-party logistics company. Wintrust was able to provide the new line of credit at a materially lower cost of capital than the previous lender, with an aggressive advance rate on the accounts receivables collateral and a flexible, no covenant structure.
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Stonebriar Commercial Finance Closes a $17.5 Million Lease
May 25, 2021Stonebriar Commercial Finance announced the closing of a $17.5 million sale and leaseback of certain manufacturing and distribution center related equipment for K&N Engineering, a leading branded automotive air filter and air intake systems manufacturer and portfolio company of funds managed by Goldman Sachs Asset Management (“Goldman Sachs”).
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IDS Wins Top Fintech Solution Provider Honors From Enterprise Viewpoint
May 25, 2021IDS, a leading provider of enterprise mission-critical solutions for secured finance has been selected a winner of the Top 20 FinTech Solution Providers 2021 by Enterprise Ventures. IDS was selected after a rigorous evaluation process which included over 300 global fintech software technology firms and was based upon the company’s market position, sales momentum and product innovation.
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Haversine Funding Announces Senior Hire
May 25, 2021Haversine Funding, a leading provider of alternative financing solutions, today announced the hiring of Jeffrey Whaley as chief financial officer. Whaley, who has more than 20 years of experience, will oversee accounting, operations, and compliance. In his new position, Whaley will work closely with investors playing a critical role in guiding the future growth of the company.
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BHI Provides $60 Million Financing for Tishman Realty Acquisition of 70 Units in Charlie West Condominium
May 25, 2021BHI, a full-service commercial bank, announced that it has provided $60 million in financing for the bulk acquisition of 70 residential condominium units in the Charlie West building, located at 505 W. 43rd Street in Manhattan’s Hell’s Kitchen neighborhood. The borrower is a joint venture of Tishman Realty & Construction and PIMCO, which is acquiring the units, totaling 76,897 square feet, from Charlie West developer the Elad Group.
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Lawrence Financial Group Announces Results for the First Quarter in 2021
May 25, 2021Since 1990, Lawrence has supplied more than $8 billion in loans to over 1,500 companies nationwide.
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J D Factors Announces Factoring Facilities
May 24, 2021J D Factors announced it has provided the following factoring facilities: $150,000 to a transportation company in Texas; $200,000 to a transportation company in Ontario; $200,000 to a transportation company in Illinois; $500,000 to a distribution company in Quebec...
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AllianceBernstein Closes Second Transaction for CLO Management Business
May 24, 2021AllianceBernstein L.P. ("AB") (NYSE: AB), a leading global investment manager, today announced the closing of AB BSL CLO 2, a $400 million collateralized loan obligation (CLO) with JPMorgan Chase acting as lead arranger. This marks the second CLO for the firm's broadly syndicated loan and CLO management business established in 2019 and led by AB's Director of Leveraged Loans Scott Macklin.
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Fifth Third Business Capital Provides $40 Million Credit Facility for Diversis Capital’s Acquisition of Performance Designed Products
May 24, 2021Performance Designed Products (“PDP”) is an industry leader providing high-quality licensed peripherals and accessories for all major video game platforms so players can level up their game.
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Leading the Recovery: Finance Teams Guiding Businesses Toward Growth
May 24, 2021COVID-19 impacted businesses across many industries and companies of all sizes. Through it all, CFOs and finance leaders were at the helm, helping their businesses navigate the impacts and chart a course forward. As the economy recovers from a challenging year, U.S. Bank sought to better understand what is top of mind with CFOs and finance leaders in 2021 and how they are helping their businesses thrive beyond COVID-19.
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Versant Funding LLC Announces Factoring Transaction to a Mid-West-based Software Provider
May 24, 2021Versant Funding LLC is pleased to announce it has funded a non-recourse spot factoring transaction to a Mid-West-based software provider. This company is in the process of completing a sale to a private equity group and required cash quickly to meet its working capital needs until the sale is complete.
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Truist Adds Industry Specialties to Growing Commercial Banking Team
May 24, 2021Truist Financial Corporation (NYSE: TFC) announced today the expansion of the Truist Commercial Community Bank's Industry Consulting team, adding waste and environmental services and building products to its growing list of industry specialties. Truist's Commercial Community Bank specializes in serving business clients with annual revenues between $2 million and $500 million.
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Yangaroo Completes Acquisition of Digital Media Services
May 24, 2021The acquisition and related transaction costs are to be funded through a committed debt financing package underwritten by the National Bank of Canada ("NBC") and Yangaroo's existing cash on hand. The debt financing package includes an acquisition term loan facility, a revolving line of credit, and other day to day banking facilities. The package represents a total commitment from NBC of CAD $5.5 million ("Acquisition Facility") and will facilitate Yangaroo with the DMS acquisition, working capital requirements, and assist with future commercial and strategic banking.
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JPMorgan Chase Launches Morgan Health
May 24, 2021JPMorgan Chase today announced details about Morgan Health, a new business unit focused on improving the quality, efficiency, and equity of employer-sponsored healthcare. The new group will be led by Dan Mendelson, CEO of Morgan Health, reporting to Peter Scher, Vice Chairman of JPMorgan Chase & Co. and a member of the firm’s Operating Committee.
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Altmore Capital Addresses Massive Demand For Funding In The Cannabis Industry
May 21, 2021Altmore Capital, a leading senior debt lender, today announced that it has closed its first cannabis debt fund exceeding its goal by over 200 percent. The new fund is available to plant-touching businesses with more than $10 million in revenue. To date, Altmore Capital has invested in and led over $130 million in financing in the cannabis industry and expects to complete an additional $200 million to $300 million in the next year.
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