- Culain Capital Provides $1MM AR Factoring Facility to California Staffing Company
- Market Sizing Study
- Dwight Funding Announces Select Credit Facilities for Growth-Stage Consumer Brands-$1.5M - Footwear
- Dwight Funding Announces Select Credit Facilities for Growth-Stage Consumer Brands-$10M
- Honigman Expands to 14 in Israel with Technology Transactions Attorney Adam Snukal
TSL Express Daily Articles & News
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Gordon Brothers Welcomes Joe Massaroni as Conrad Lauten Retires
Gordon Brothers, the global advisory, restructuring and investment firm, has named Joe Massaroni as Director, Business Development as Conrad Lauten retires.
Based in Atlanta, Massaroni will lead efforts to develop and maintain strong client relationships across the Southeast. Massaroni joins Gordon Brothers with decades of experience in secured finance. He’s worked at several lending institutions throughout his career and previously served as director and team leader responsible for managing key relationships and more than $4 billion of account commitments.
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TSL Express Daily Headlines & News
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Maxim Commercial Capital Funds Deals in 30 States During 2Q 2020
July 13, 2020Maxim Commercial Capital is pleased to report it funded hard asset-secured financings for small and mid-sized businesses (SMBs) in 30 states across the United States during the second quarter of 2020. After pivoting quickly in March to safer-at-home working conditions for its 30+ team members, Maxim experienced a steady increase in applications from equipment brokers and vendors for their borrowers with challenged credit.
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Huntington Business Credit Announces Credit Facility for Midwest Iron and Metal Company LLC
July 13, 2020Huntington Business Credit announced it closed a new $10,500,000 credit facility with Midwest Iron and Metal Company LLC on May 29, 2020. Midwest Iron and Metal Company LLC is owned by Merit Capital Partners, a private equity firm based in Chicago, Illinois. Proceeds of the facilities were used to refinance existing debt and provide ongoing working capital growth financing.
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Siena Lending Group Announces Second Quarter Results
July 13, 2020Siena announced $45M in new facilities. Siena Lending Group continues to be a leader in the asset-based lending industry, consistently finding creative ways to offer our clients maximum flexibility and liquidity. We are proud to provide this overview of the financing solutions that Siena and our Siena Healthcare Finance division delivered in Q2 2020. In firm news, we are excited to share two strategic moves to further grow and strengthen our team. Siena closed two deals for $25 million in the pharmaceuticals and beauty industries.
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Hollywood Bed & Spring Mfg. Co., Inc. Acquires Linwood Hospitality
July 13, 2020Hollywood Bed & Spring Mfg. Co., Inc., ("Hollywood" or the "Company") has acquired the Linwood Hospitality division ("Linwood") from Leggett & Platt, Inc. to become the leading supplier of bedding support products to the hospitality and contract markets. FocalPoint Securities, LLC ("FocalPoint") served as exclusive investment banker to the Company.
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Haynes and Boone Advises AYRO in $15 Million Offering
July 13, 2020A Haynes and Boone, LLP deal team represented Austin-based AYRO, Inc. (Nasdaq: AYRO), a manufacturer of light-duty, emissions-free electric vehicles, in a $15 million registered direct offering of its common stock, which closed July 9, 2020. Founded in 2017, AYRO designs and manufactures compact, sustainable electric vehicle solutions for urban and community transport, local on-demand and last-mile delivery, closed-campus mobility, and government use.
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Bed Bath & Beyond Announces Plans to Permanently lose 200 Stores Over Next Two Years
July 13, 2020Bed Bath & Beyond Inc. plans to close approximately 21% of its namesake stores, or 200 locations, over the next two years, the company announced Wednesday. The New Jersey-based home goods retailer, which also operates buybuy Baby, Harmon Face Values and World Market, said the closing stores would "mostly" be Bed Bath & Beyond stores during an earnings call with analysts.
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Crestmark Provides More Than $57.9 Million in Commercial Financing to 294 Businesses in the Second Half of June
July 13, 2020Crestmark secured a total of $16,416,610 in ABL financial solutions for 14 new clients; Crestmark Equipment Finance provided $14,362,914 in four new lease transactions; Crestmark Vendor Finance provided $21,028,090 in 273 new lease transactions; and the Government Guaranteed Lending group provided $6,178,000 in financing for three new clients in the second half of June.
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Global Net Lease Completes $88 Million Whirlpool Financing
July 13, 2020Global Net Lease, Inc. (NYSE: GNL) ("GNL" or the "Company") announced today that the Company, through certain of its subsidiaries, entered into a financing transaction with a syndicate of regional banks led by BOK Financial and borrowed an aggregate of $88 million secured by six (6) properties that are leased to Whirlpool Corporation, a Fortune 200 company with a Moody's credit rating of Baa1.
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White Oak Commercial Finance Increases Credit Facility by $4MM to Minority-Owned Telecommunications Group
July 13, 2020White Oak Commercial Finance, LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC, announced its Government Contracting Finance group provided an additional $4MM in factor-based credit facility funding to a Washington DC-based telecommunications contracting firm. White Oak’s partnership with the company began in 2003, and the additional funding was used to support the company’s continued growth.
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Essential Energy Services Announces Extension and Amendment of Its Credit Facility
July 13, 2020Essential Energy Services Ltd. (TSX: ESN) (“Essential” or the “Company”) announces it has entered into an amending agreement to its June 26, 2018 credit facility agreement (together the “Amended Credit Facility”) with a syndicate of lenders comprised of National Bank of Canada, ATB Financial and Canadian Western Bank. The Amended Credit Facility provides Essential an extension of the maturity date of the revolving secured credit facility to June 30, 2022 along with revisions to certain terms and conditions.
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Greenberg Traurig's Richard C. Kim Named to Secured Finance Network's 40 Under 40 List
July 13, 2020Richard C. Kim, a corporate shareholder in the New York office of global law firm Greenberg Traurig, LLP, has been chosen as a recipient of the 2020 Secured Finance Network's (SFNet) 40 Under 40 Awards. Richard C. Kim, a corporate shareholder in the New York office of global law firm Greenberg Traurig, LLP, has been chosen as a recipient of the 2020 Secured Finance Network's (SFNet) 40 Under 40 Awards. According to SFNet, this global award recognizes "the best and brightest rising stars in secured finance."
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Wolters Kluwer Lien Solutions Launches Technology Solution to Support Main Street Lending Program Participants
July 13, 2020Wolters Kluwer Lien Solutions has launched iLien for Main Street – a technology solution devoted to helping U.S. lenders optimize their due diligence and lien management efforts when securing loans for small and medium-sized businesses under the Main Street Lending Program (Program). The Program is part of the U.S. Coronavirus Aid, Relief, and Economic Security Act (CARES Act).
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TradeCap Partners Closes $350,000 Purchase Order Finance Facility for Midwest Paper Products Importer
July 13, 2020TradeCap Partners recently facilitated the closing of a $350,000 Purchase Order Finance Facility for an importer of Paper Products based in Minnesota. The introduction was made to TradeCap through a factoring partner that had worked with the Company for close to a decade.
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Bay Point Advisors Provides $3.05M DIP Loan to Solar Provider in Atlanta
July 13, 2020Bay Point Advisors announces it has provided a multi-tiered, senior secured debtor-in-possession loan (“DIP Loan”) to Hannah Solar, LLC. The funds will allow Hannah Solar to consolidate its existing secured debt and obtain the working capital necessary to fund its operations during its reorganization process.
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HealthEZ Has Completed a Majority Recapitalization by Abry Partners
July 13, 2020Lincoln International is pleased to announce that The Araz Group, Inc. (d/b/a HealthEZ), a leading independent third-party administrator (TPA) of self-funded medical plans, has received an investment from Abry Partners LP, a private investment firm focused on investing in and building market-leading middle market businesses
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National Bank of Commerce (NBC) Names Hansen to Commercial Banking Team
July 13, 2020National Bank of Commerce (NBC), has expanded its commercial banking team by repositioning Cammy Hansen to VP – Senior Commercial Banker. She has been with the bank for nine years and in her new role will be responsible for building relationships with commercial customers to help the local businesses and communities prosper.
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Suominen has Signed a Credit Facility Agreement Linked to Sustainability Targets
July 13, 2020Suominen has entered into a single-currency syndicated revolving credit facility agreement of EUR 100 million with a maturity of three years with two one-year extension options. The lenders for the facility are Danske Bank A/S, Finland Branch and Nordea. The new credit facility includes leverage ratio and gearing as financial covenants.
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Pascal Meysson Joins H.I.G. Capital as Head of Direct Lending in Europe
July 13, 2020H.I.G. Capital, LLC ("H.I.G."), a leading global private equity investment firm with over €34 billion of equity capital under management, is pleased to announce today that Pascal Meysson has joined H.I.G. Capital as a Managing Director and Head of H.I.G. WhiteHorse Europe, H.I.G.’s direct lending European affiliate. Pascal has 24 years of investing experience overall including 16 years in the European direct lending market.
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North Mill Capital Provides $1 Million to Rebel Green, LLC
July 13, 2020The funds were used to pay off the previous lender and provide additional working capital for the company. Rebel Green, LLC is located in Mequon, Wisconsin and provides a broad line of natural, eco-friendly household cleaning products.
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FocalPoint Advises Triad on its Recapitalization by J.P. Morgan Chase
July 13, 2020Triad Manufacturing, Inc. (“Triad” or the “Company”) has successfully completed a refinancing with J.P. Morgan Chase Bank, N.A. (“J.P. Morgan”). FocalPoint Securities, LLC (“FocalPoint”) served as the exclusive investment banker to the Company. Triad designs, engineers, manufactures, and installs custom fixtures for leading brands across the retail landscape.
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