- SouthStar Capital Closes $750,000 Combined Purchase Order and Accounts Receivable Financing Facility for California-Based Consumer Products Company
- Leading Securities Litigator Paul Rugani Joins Jones Day as Partner in Irvine
- Market Sizing Study
- PlainsCapital Bank Welcomes Joey Myers as Senior Vice President, Senior Relationship Manager
- GA Group Launches Dedicated Transaction Opinions Practice with Elite Leadership Team
TSL Express Daily Articles & News
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Kristin Lesher Named Head of Middle Market Banking for Wells Fargo
Wells Fargo & Company (NYSE: WFC) today announced that 21-year company veteran Kristin Lesher will lead Middle Market Banking, effective immediately. She reports to Kyle Hranicky, CEO of Wells Fargo Commercial Banking.
An industry leader in serving middle market companies, Wells Fargo provides financial solutions and specialized expertise across industries including agribusiness, food and hospitality, healthcare, investor real estate, government banking and technology.
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LBC Credit Partners Supports Refinancing and Add-on Acquisition for Evercast
June 10, 2021LBC Credit Partners (“LBC”), one of the leading providers of financing solutions to middle market companies, provided a senior secured credit facility to support the refinancing of Evercast, add-on acquisition of Precast Supply Company, and future acquisitions. Evercast is a portfolio company of PNC Mezzanine Capital and Cornerstone Capital Partners. LBC served as Agent and Sole Lender for the senior secured credit facility.
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CIT Northbridge Serves as Sole Lead Arranger on $17.4 Million Credit Facility for Hynes Industries
June 10, 2021CIT Group Inc. (NYSE: CIT) today announced that CIT Northbridge Credit, as advised by CIT Asset Management LLC, served as sole lead arranger on a $17.4 million credit facility for Hynes Industries, a provider of custom metal solutions. Based in Youngstown, Ohio, Hynes Industries manufactures highly engineered custom metal products, including strip steel, rolled form shapes, flat wire and slotted angle systems, for customers across a broad range of industries.
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Reitler Expands Its Lending & Debt Finance Practice
June 10, 2021Reitler, a full-service boutique law firm, welcomes Joseph Choi and Vincenzo Paparo to its Lending & Debt Finance practice group. Joseph Choi, joins the firm as Partner, and Vincenzo Paparo joins the firm as Senior Counsel; both will be based in Reitler's New York office.
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Sterling National Bank Provides $1 Million Recourse Factoring Facility
June 10, 2021Sterling National Bank's Commercial Services Group provided a recourse factoring facility totaling $1,000,000 to a Northeast based importer of precious and semi-precious stones. The factoring facility will be used to provide working capital for the company’s anticipated future growth.
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Punchbowl® Secures $5.0MM in New Financing to Fuel Growth Strategy
June 10, 2021Punchbowl® (www.punchbowl.com), the Company behind the critically acclaimed technology platform for events, holidays, and meaningful life memories, today announced $5.0MM in financing from SG Credit Partners, Inc. The financing was used to acquire VidHug, Inc.—a best-in-class group video platform—and to make strategic investments in mobile apps for new parents. With the acquisition of VidHug, the Company welcomes innovative technology for asynchronous video, a passionate user base that has grown exponentially over the past year, and a new team based in Ontario, Canada.
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ACORE Capital Appoints Kyle Jeffers and Tony Fineman as Co-Heads of Origination
June 10, 2021ACORE Capital, LP (“ACORE”), one of the largest global credit managers focused exclusively on commercial real estate lending, is pleased to announce that Kyle Jeffers and Tony Fineman have been promoted to Co-Heads of Origination. In this role, Jeffers and Fineman will oversee all of ACORE’s origination activities and report directly to Co-Chief Executive Officers Warren de Haan and Chris Tokarski.
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Capital Southwest Supports New Harbor Capital’s Majority Growth Equity Investment in FoodPharma
June 10, 2021Capital Southwest Corporation (“Capital Southwest”) (Nasdaq:CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, announced today that it recently supported New Harbor Capital (“NHC”) in its majority growth equity investment in Food Technology and Design, LLC dba FoodPharma LLC (“FoodPharma” or the “Company”) with a revolving credit facility, first lien term loan, delayed draw term loan and a minority equity co-investment.
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Victory Capital Announces Plans to Enter Cryptocurrency Market
June 10, 2021Victory Capital Holdings, Inc. (NASDAQ: VCTR) (“Victory Capital” or the “Company”) today announced that its wholly owned investment adviser, Victory Capital Management Inc., has established exclusive agreements with both Nasdaq and crypto-focused asset manager Hashdex Ltd. (“Hashdex”) in advance of plans to enter the cryptocurrency market. Victory Capital will be the exclusive sponsor of private placement funds and other vehicles for U.S. investors, based on the Nasdaq Crypto Index (NCI), a multi-coin crypto index co-developed by Nasdaq and Hashdex.
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Alex and Ani Announces Restructuring Support Agreement with Its Secured Lenders and Equity Sponsors
June 10, 2021Alex and Ani, LLC ("Alex and Ani" or the "Company"), creators of the iconic charm bangle and affordable meaning based jewelry, today announced that in continuation of its efforts to stabilize its business, the Company has entered into a Restructuring Support Agreement ("RSA") with its debt holders and equity sponsors regarding a comprehensive financial and operational restructuring. To implement the restructuring, the Company has commenced Chapter 11 proceedings in the United States Bankruptcy Court for the District of Delaware. Kirkland & Ellis LLP and Klehr Harrison Harvey Brazenburg LLP are serving as the Company's legal co-counsel and Portage Point Partners, LLC is serving as its financial advisor.
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Horizon Technology Finance Appoints Daniel Devorsetz as Chief Operating Officer
June 10, 2021Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon," or the "Company"), a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries, today announced that it has appointed Daniel S. Devorsetz as Chief Operating Officer effective immediately.
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Dominion Energy Extends and Expands Credit Facilities; Introduces Innovative Sustainability-Linked Pricing
June 10, 2021For the supplemental credit facility, Sumitomo Mitsui Banking Corporation ("SMBC"), Scotiabank and TD Securities (USA) LLC acted as Joint Lead Arrangers and Joint Bookrunners and SMBC acted as Sustainability Coordinator.
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BBH Capital Partners Announces the Addition of Two Business Development Officers
June 9, 2021BBH Capital Partners (BBHCP), the private equity arm of Brown Brothers Harriman & Co. (BBH), is pleased to announce the addition of two new Business Development Officers, Elena L. Tuttle, based in Charlotte, and Karima Ali-Ahmad, based in Chicago. Elena and Karima are joining as Vice Presidents and will focus on investment sourcing and business development reporting to Alice M. Birnbaum, BBHCP's Head of Business Development.
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Eastern Bank Welcomes Boston Warehouse Trading Corp. as a Commercial Customer
June 9, 2021Eastern Bank is pleased to announce Boston Warehouse Trading Corp. as a new commercial banking customer. Founded in 1974 as a small warehouse importing colorful textiles and ceramics from Europe, today Boston Warehouse sources products from across the globe and provides creative gifts, housewares and home décor to independent retailers, larger specialty stores and consumers worldwide.
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Huntington Completes Merger With TCF, Adds Five New Board Members
June 9, 2021Huntington Bancshares Incorporated (Nasdaq: HBAN; "Huntington") today announced it has closed its merger with TCF Financial Corporation ("TCF"), creating a Top 25 U.S. bank holding company. The combination positions Huntington for enhanced profitability and scale, revenue growth opportunities, significant cost synergies, and a strengthened market position, all driving increased long-term shareholder value.
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Pacific Mercantile Bank Provides $7.5 Million Line of Credit to Mason-West LLC
June 9, 2021Pacific Mercantile Bank (“the Bank”), the wholly owned subsidiary of Pacific Mercantile Bancorp (NASDAQ: PMBC), today announced that it has provided a $7.5 million revolving line of credit to Mason-West, LLC, the premier western regional distributor of engineered seismic restraint systems and vibration isolation products manufactured by Mason Industries of New York.
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Unique Logistics International Announces New Credit Facility with TBK Bank, a Texas State Savings Bank
June 9, 2021Unique Logistics International, Inc. (OTCMKTS: UNQL) ("Unique" or the "Company"), a global logistics and freight forwarding company, today announced the signing of a new $30 million revolving purchase loan with TBK Bank, SSB, a subsidiary of Triumph Bancorp, Inc. (NASDAQ: TBK) and a Texas State Savings Bank.
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LiveXLive Announces New Two-Year $7 Million Secured Revolving Credit Facility and Extends Maturity of its Existing Subordinated Secured Convertible Notes
June 9, 2021LiveXLive Media (Nasdaq: LIVX) ("LiveXLive"), a global platform for livestream and on-demand audio, video and podcast/vodcast content in music, comedy and pop culture, and owner of PodcastOne, Slacker Radio, React Presents and Custom Personalization Solutions, announced today that it has entered into a new two-year $7 Million secured revolving credit facility that will bear interest at the Prime Rate plus 0.5%.
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InterNex Capital Issues $4.1MM Line of Credit and Term Loan to Wine & Spirits Company
June 9, 2021InterNex Capital recently closed a $4.1MM line of credit and term loan for a decade-old liquor and wine importer and distributor based in New York. The company sought financing to purchase the assets of two other companies.
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First Business Bank Closes $2 Million Factoring Facility to Transportation Company
June 9, 2021First Business Bank announces the closing of a $2 million factoring facility by its Accounts Receivable Financing group. The client, which provides transportation services across the Midwest, previously was a client within First Business Bank’s Asset-Based Lending team and then moved on with another lender. During that time, they maintained a relationship with First Business Bank, and when they had to find a new lender, they returned.
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Quasar Capital Partners Announces John Center as President
June 9, 2021Quasar Capital Partners, a provider of customized lending solutions for small businesses in the US and Canada with facility sizes ranging from $1,000 to $5M, today announced that John Center has been named as President. Center has spent his entire professional career in commercial finance serving in portfolio development and relationship management roles. Most recently, he served as Senior Vice President of Blacksail Capital Partners and prior to that as Vice President of client relationship management of Far West Capital.
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