- Dwight Funding Announces Select Credit Facilities for Growth-Stage Consumer Brands-$2M
- Accord Financial Closes Sale of US Portfolio Assets
- GS Power Partners Secures $250 Million Investment from Deutsche Bank
- SG Credit Announces a Senior Debt Investment in Mezcla
- Gateway Completes a Record 39 Stretch Deals in 45 Days Totaling $15 Million
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Monroe Capital Provides $120 Million Senior Credit Facility to Infusion Therapy Business
Monroe Capital LLC today announced it acted as sole lead arranger and administrative agent on the funding of a $120 million senior credit facility to support the recapitalization of an infusion therapy business by a private equity sponsor.
The company is a provider of home and alternate-site infusion therapy and complex specialty pharmacy solutions to patients.
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Signature Bank Expands West Coast Operations With Appointment of Executive Director and 45 Professionals Spanning 15 Private Client Banking Teams Yesterday
July 10, 2020Signature Bank (Nasdaq: SBNY), a New York-based full-service commercial bank, announced today its expansion efforts in the greater Los Angeles market, complementing its San Francisco operations.
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Birks Group Closes New Term Loan with Investissement Québec
July 9, 2020The new term loan, which matures in July 2024 , is subordinated to the Company's existing senior secured revolver facility with Wells Fargo Capital Finance Corporation Canada ("Wells Fargo") and Crystal Financial LLC ("Crystal"). The loan bears an interest rate of 3.14% per annum, is repayable in 36 equal payments beginning in July 2021 and requires the Company to have a working capital ratio (defined as current assets divided by current liabilities excluding the current portion of operating lease liabilities) of at least 1.01, calculated on an annual basis.
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Franchise Group, Inc. To Provide Debtor-in-Possession Financing to Tuesday Morning Corporation
July 9, 2020Franchise Group, Inc. (NASDAQ: FRG) (“Franchise Group” or the “Company”) announced that it is providing Tuesday Morning Corporation (“Tuesday Morning”) with a $25 million debtor-in-possession (“DIP”) loan as part of its bankruptcy proceedings.
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Osborne Named Managing Director at Newpoint
July 9, 2020Newpoint Advisors Corporation, a financial advisory firm focused on small distressed companies, today announced that Aaron Osborne, an experienced chief financial officer, has joined the firm as managing director of the Dallas office.
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Kayne Anderson Announces Expansion of Renewable Platform, Names Co-Heads of Renewable Investing
July 9, 2020Kayne Anderson Capital Advisors, L.P. (“Kayne” or the “Firm”), announced today the continued expansion of its renewable investment platform with a series of solar investments in the second quarter. Over the last several years, Kayne has leveraged the firm’s deep energy and infrastructure expertise to expand its investment platform to pursue opportunities in renewable power and infrastructure. The firm has named Jon Levinson and J.C. Frey co-heads of Kayne’s renewable platform with Mr. Levinson leading the private renewable efforts and Mr. Frey leading the public markets strategies.
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Antares Supports Parthenon Capital’s Investment in RxSense
July 9, 2020Antares announced today that it served as lead left arranger and is acting as administrative agent on a senior secured credit facility to support Parthenon Capital’s growth recapitalization of RxSense.
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Bridge Bank Expands Capital Finance Group with New Managing Director Timothy Carstens
July 9, 2020Bridge Bank today announced it is expanding its Capital Finance group, which provides a full complement of asset-based lending solutions. The group now will be led by managing director Timothy Carstens, who joins Bridge Bank from Fifth Third Business Capital.
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Tiger Group’s Ryan Davis Named to SFNet’s ‘40 Under 40’
July 9, 2020Boston-based leader of firm’s Valuation Services division honored by peers in secured finance industry in annual awards program.
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Breakout Capital Closes $20MM in Credit Facilities with Medalist Partners
July 9, 2020Leading nationwide small business lender Breakout Capital announced today the completion of two senior secured credit facilities, totaling $20MM, with Medalist Partners, expanding and extending a current term loan facility and establishing a new term loan facility with attractive forward flow features with its long-time lending partner.
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FTI Consulting Continues Investment in Turnaround & Restructuring Practice with Appointment of Daniel Wikel as Senior Managing Director
July 8, 2020Based in Chicago, Mr. Wikel advises clients on corporate turnarounds and restructurings, lender workout situations, transaction advisory services/business assessments and raising capital. He has significant experience managing middle-market and large bankruptcy cases and related matters, and his financial and operational expertise spans strategic planning, capital advisory or investment analysis and identifying revenue enhancements and cost improvements.
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Sur La Table to Restructure Its Retail Footprint and Complete a Going-Concern Sale via Voluntary Chapter 11 Process
July 8, 2020Sur La Table (“the Company”), the leading retail destination since 1972 for those passionate about cooking and entertaining, today announced that it has filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of New Jersey (the “Court”) to consummate a restructuring and going-concern sale of the Company, subject to Court approval.
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Covenant Logistics Group Completes Asset Sale of Transport Financial Solutions Factoring Segment
July 8, 2020Covenant Logistics Group, Inc. (NASDAQ/GS: CVLG) (“Covenant”) today announced the sale of the transportation factoring assets of its Transport Financial Solutions (“TFS”) segment to Triumph Business Capital for approximately $132.2 million, including contingent consideration of approximately $9.9 million. Triumph Business Capital is an indirect wholly owned subsidiary of Triumph Bancorp, Inc. (NASDAQ: TBK) (“Triumph”).
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Business Capital Arranges Acquisition Financing for Scott’s Liquid Gold
July 8, 2020Business Capital assisted Scott’s Liquid Gold (OTC: SLGD) in securing a $10 million credit facility with UMB Bank in conjunction with the acquisition of the Biz and Dryel laundry brands. This new credit facility replaces an existing Bank loan and further supports the working capital needs of the combined entities going forward.
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Citizens M&A Advises Gunnison Tree Services
July 8, 2020Citizens M&A Advisory served as exclusive financial advisor to Gunnison Tree Services on its recapitalization by Warren Equity Partners Citizens M&A Advisory served as the exclusive financial advisor to Gunnison Tree Services, LLC, a leading provider of comprehensive tree and vegetation management services, on its recapitalization by Warren Equity Partners, a Jacksonville, FL-based lower middle market private equity fund.
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Taulia Appoints Christian Lindemann as Director of Supply Chain Finance EMEA
July 8, 2020Taulia, the leader in working capital technology solutions has today announced the appointment of Christian Lindemann as Director of Supply Chain Finance EMEA. Christian is based in Switzerland and will be the EMEA region’s Working Capital Solutions Expert. In an all-encompassing role, Christian will use his deep Supply Chain Finance knowledge to support the sales, marketing, and product organizations to further strengthen Taulia’s solutions and presence in the market.
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PNC Appoints Two to Executive Committee, Creates Chief Corporate Responsibility Post
July 8, 2020Carole Brown will be head of PNC’s Asset Management Group and Richard K. Bynum will serve in the newly created role of chief corporate responsibility officer. Both executives will report to Bill Demchak, chairman, president and CEO.
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Pear Therapeutics Announces $50 Million Credit Facility from Perceptive Advisors
July 8, 2020Pear Therapeutics, Inc. (“Pear” or the “Company”) today announced that it closed a credit facility for up to $50 million from Perceptive Advisors (“Perceptive”), a leading life sciences investment firm. In connection with the financing, Pear issued warrants to Perceptive, and Sam Chawla of Perceptive received board observer rights. Armentum Partners served as the Company’s financial adviser in connection with this financing.
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Nishen Radia & Clay Bryan Named as Top Private Equity Advisors
July 8, 2020FocalPoint Partners, LLC, a leading middle market investment bank, is pleased to announce that Managing Partner Nishen Radia and Managing Director Clay Bryan have been named as "Top Private Equity Advisors" for Year 2020 by the Los Angeles Business Journal. Concurrent with this recognition, FocalPoint has formed a new Financial Sponsors Group to be led by Mr. Bryan in Los Angeles. The Financial Sponsors Group will service private equity groups and their portfolio companies with a comprehensive suite of M&A, financing, and restructuring services.
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Tiger Group Sets Online Auction for Assets of Plastics Painting Plant
July 8, 2020July 21 event features robotic systems with multiple applications, tanks, agitators, spray booths, plant support/materials handling equipment and more. Assets excess to the ongoing operations of Spectrum Industries of Grand Rapids, Mich.
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Chicago Atlantic Provides $30 Million Credit Facility to Verano Holdings, LLC
July 7, 2020Green Ivy Capital, LLC ("Green Ivy Capital"), an affiliate of Chicago Atlantic Group, LLC ("Chicago Atlantic"), announced today it acted as sole lead arranger and administrative agent on a new $30 million senior secured term loan facility (the "Term Loan Facility") for Verano Holdings, LLC ("Verano"). The Term Loan Facility was led by an affiliated fund of Chicago Atlantic with participation of other institutional lenders.
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