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David Gittleman Joins Wingspire Capital as Head of Capital Markets
Wingspire Capital, a leading specialty finance firm focused on providing asset backed credit facilities to the middle market, today announced that David Gittleman has joined the firm as Head of Capital Markets. Mr. Gittleman is based in Atlanta and will support Wingspire’s growth as it implements its strategy of originating and arranging senior secured credit facilities for private and publicly traded companies throughout the country.
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Blue Wolf Capital Announces Expansion of Investment Team and Promotion of Joshua Cherry-Seto
October 26, 2020Blue Wolf Capital Partners ("Blue Wolf"), a New York-based private equity firm, today announced the expansion of its investment team with four strategic hires: Shashank Patel, Greg Singer, Ethan Cooper and David Meyers. Blue Wolf has also promoted Chief Financial Officer and Chief Compliance Officer Joshua Cherry-Seto to Managing Director.
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Justin Dunn Joins Hilco Redevelopment Partners as Senior Vice President of Development for the 1300 Acre Development Project in Philadelphia
October 26, 2020Hilco Redevelopment Partners (HRP) announced today that it has named Justin Dunn as Senior Vice President of Development of the company’s Philadelphia team, which is working to redevelop a 1,300 acre former oil refinery site in southwest Philadelphia. The project will transform the site into a state-of-the-art, environmentally responsible logistics and commercial campus. HRP is the real estate development unit of Hilco Global and is dedicated to the remediation and redevelopment of obsolete industrial properties.
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Matrix Announces the Successful Sale of Dixie Gas & Oil Corporation
October 26, 2020Matrix Capital Markets Group, Inc. (“Matrix”), a leading independent investment bank, announces the successful closing on the sale of the propane, petroleum, and lubricant operations of Dixie Gas & Oil Corporation (“Dixie” or the “Company”) to Quarles Petroleum, Inc. Based in Verona, Virginia, Dixie is one of the region’s largest independent suppliers of retail propane, heating oil, commercial fuels, and lubricant products serving over 10,000 customers in 17 counties throughout Virginia and West Virginia. Jessica Robinson and Victor Santos of Nelson, McPherson, Summers & Santos, L.C. served as legal counsel to Dixie.
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H.I.G. Capital Signs Definitive Agreement to Acquire Capstone Logistics
October 26, 2020H.I.G. Capital ("H.I.G."), a leading global alternative investment firm with over $40 billion of equity capital under management, is pleased to announce that one of its affiliates has signed a definitive agreement to acquire Capstone Logistics, LLC (“Capstone” or the “Company”), a leading national provider of outsourced supply chain solutions to distribution centers catering primarily to the grocery, food service, retail and CPG industries, from an affiliate of The Jordan Company, L.P. (“TJC”).
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Symplr Nets Debt Financing for Acquisition of TractManager
October 26, 2020Credit Suisse, Goldman Sachs, Antares Capital, Ares, Deutsche Bank, Golub Capital and Jefferies are providing debt financing for symplr's acquisition of TractManager, which was announced today. Additional details of the financing were not disclosed. TractManager, currently a portfolio company of Arsenal Capital Partners, develops technology-enabled compliance and business process improvement services for healthcare organizations.
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Flatbay Capital LLC Provides $4MM Real Estate Bridge Loan for Houston-based Valve Distributor
October 26, 2020Flatbay Capital LLC (“Flatbay”) announces the closing of a $4,000,000 commercial real estate loan for Houston-based A&L Valve (“A&L”). Working capital was required to help reduce a significant amount of accounts payables, as well as payoff their existing national bank who recently downgraded the credit. Due to A&L’s recent financial performance, the incumbent bank was unable to refinance the owner occupied real estate.
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Calera Capital Appoints Kevin Miller as Operating Partner
October 26, 2020Calera Capital, a leading middle-market private equity firm, today announced the appointment of Kevin Miller, the former Chairman and CEO of Benevis and Executive Chairman of Prospira Paincare, as an Operating Partner. Mr. Miller will assist Calera in evaluating and building attractive platform investments in the healthcare and business services sectors. Calera intends to commit $40 to $200 million of equity per investment in a range of transaction types which are primarily focused on family or founder-owned businesses.
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Grande West Renews RBC $20,000,000 Credit Facility
October 26, 2020Grande West Transportation Group Inc. (TSXV:BUS)(OTC PINK:GWTNF)(FRA:6LG) ("Grande West" or the "Company"), a Canadian manufacturer of mid-sized multi-purpose transit vehicles for sale in Canada and the United States, is pleased to announce that it has renewed its $20,000,000 credit facility ("Credit Facility"). The Royal Bank of Canada (RY) is providing a three-year revolving Credit Facility, based on the value of the Company's assets, for up to $20,000,000, to be used for ongoing working capital requirements.
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Capitala Group Announces Investment in Mason West
October 26, 2020Capitala Group (“Capitala”), a leading provider of capital to lower middle market companies, announced today that it has made an investment in Mason West (the “Company”), the industry leader in engineered seismic restraint and vibration isolation products. Capitala’s growth strategy investment provided debt and equity capital to the Company to provide for ongoing expansion in the market.
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Guggenheim Securities Hires Joe Niemiec to Expand Middle Market Investment Banking Practice
October 26, 2020Guggenheim Securities, the investment banking and capital markets division of Guggenheim Partners, announced today that Joe Niemiec has joined the firm as a Senior Managing Director to expand its middle market investment banking coverage and to focus on advising companies in the services and industrials sectors.
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Fifth Third Announces Appointment of Timothy N. Spence as President
October 26, 2020Fifth Third Bancorp (Nasdaq: FITB) today announced the appointment of Tim Spence as president. His promotion will support the Company’s ongoing successful execution of its strategic initiatives and further strengthen its position as a leading regional bank. In his new role, effective immediately, Spence will oversee all business lines and regional banking, while continuing his leadership of the Bank’s strategy. It was Spence’s strength in strategy that first brought him to Fifth Third in 2015.
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Le Château Obtains Court Order for CCAA Protection
October 26, 2020Under the terms of the Order, Gordon Brothers Canada ULC and Merchant Retail Solutions ULC have been appointed as the Company's consultants to implement the Liquidation and PricewaterhouseCooper Inc. has been appointed as monitor to the Company in these CCAA proceedings (the "CCAA Proceedings") to oversee the Company's operations during the Liquidation. Further, the Company obtained interim (DIP) financing from Wells Fargo Capital Finance Corporation Canada which will allow the Company to fund its post-filing working capital requirements during the Liquidation and the CCAA Proceedings.
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Taronis Fuels Closes $10 Million Bank Credit Facility
October 26, 2020Taronis Fuels, Inc., (“Taronis” or the “Company”) (OTCQB: TRNF), a global producer of renewable and socially responsible fuel products, today announced the closing of a $10 million senior, secured line of credit with Tech Capital, LLC (“Tech Capital”). Tech Capital is a wholly-owned subsidiary of Technology Credit Union in San Jose, California.
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Taulia Appoints Andy Lee as Director, Supply Chain Finance
October 26, 2020Taulia, the leader in working capital technology solutions, has today announced the appointment of Andy Lee as Director, Supply Chain Finance. Based in New York, Lee will be responsible for expanding Taulia's funding partners, building strategic relationships and supporting product development in North America.
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CIBC Innovation Banking Provides Global Medical Technology Company Vapotherm Inc. With a US$52 Million Growth Financing
October 26, 2020CIBC Innovation Banking is pleased to announce a US$52 million growth capital financing with Exeter-based Vapotherm, Inc. (NYSE: VAPO), (“Vapotherm”), a global medical technology company focused on the development and commercialization of its proprietary high velocity therapy, which is used to treat patients of all ages suffering from respiratory distress. Vapotherm will use the funding to repay its existing revolving loan facility and term loan facility.
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APi Group Corporation Announces Successful Increase of Term Loan Facility and Confirms Date of Third Quarter 2020 Earnings Release
October 26, 2020APi Group Corporation (the “Company” or “APi”) (NYSE: APG) announced today that it has entered into an incremental $250 million term loan facility, further strengthening the Company’s liquidity position. Citigroup Global Markets Inc., U.S. Bank National Association, Barclays, BofA Securities, Inc. and UBS Securities LLC acted as joint lead arrangers and bookrunners for the new term loan facility.
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1st Security Bank Announces the Promotion of Robert Nesbitt to the Position of Commercial Lending Team Leader
October 26, 20201st Security Bank announces that Robert Nesbitt has been promoted to the position of Senior Vice President, Commercial Lending Team Leader. Robert, who is based at the Bank's commercial lending offices in Mountlake Terrace, Washington, will be overseeing a group of commercial lending relationship managers and administering the continued growth of the Commercial and Industrial lending portfolio.
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Brevet Capital Supports Manchester Financial Group’s Development of U.S. Navy’s Southwest Headquarters and Manchester Pacific Gateway Development in San Diego
October 26, 2020Funds managed by Brevet Capital (“Brevet”), a leading specialty finance provider with a dedicated focus on the government sector, today announced the successful completion of a $212 million term loan facility provided to Manchester Financial Group, L.P. (“Manchester”), a leading San Diego-based hotel and commercial real estate developer.
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Ares Management Appoints Raj Krishnan as Partner and Chief Investment Officer of Ares Insurance Solutions
October 26, 2020Ares Management Corporation (“Ares”) (NYSE: ARES) announced today that Raj Krishnan has joined as Partner and Chief Investment Officer of Ares Insurance Solutions (“AIS”). Mr. Krishnan brings more than 25 years of insurance asset management experience to AIS. He joins from F&G Annuities & Life (“F&G”) where he most recently served as Executive Vice President and Chief Investment Officer, overseeing F&G’s $28 billion investment portfolio. In his new role, Mr. Krishnan will oversee insurance asset management for AIS and help optimize investment returns for more than 100 insurance clients across the Ares platform.
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Samson Resources II, LLC Announces Redetermination and Extension of Reserve Based Lending Borrowing Base at $75 Million and Continuation of Drilling Plan in the Powder River Basin
October 22, 2020Samson Resources II, LLC ("Samson" or the "Company") announced today that, pursuant to its regularly scheduled redetermination process, the Borrowing Base under its senior secured revolving credit facility has been redetermined by its lender group at $75 million with a one-year extension to November 2022. The Company ended the third quarter of 2020 with net debt of $3.5 million, providing ample liquidity for Samson to continue its development plans. Samson re-initiated its drilling and completion program in the Powder River Basin during August 2020.
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