TSL Express Daily Articles & News
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Webster Expands Focus on Healthcare Financing
Webster Bank is pleased to announce that it is increasing its commitment to its Healthcare industry vertical by naming Steve Dowe, senior vice president, to lead Webster’s Middle Market Healthcare vertical focused on privately owned health care providers and senior housing operators. Dowe, whose coverage area will encompass the eastern United States, will focus on providing comprehensive commercial banking services to non-private equity owned health care companies with sales between $25 to $500 million.
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Huntington Business Credit Closes New Credit Facilities with Leahy Institutional Foods Packing Company
October 15, 2020Huntington Business Credit announced it closed new $22,000,000 credit facilities with Leahy Institutional Foods Packing Company on September 23, 2020. Proceeds of the facilities were used to refinance existing indebtedness and provide ongoing working capital growth financing.
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International African American Museum Receives New Markets Tax Credits from TD Community Development Corporation
October 15, 2020TD Community Development Corporation (TDCDC), a wholly-owned subsidiary of TD Bank, N.A., announced today its allocation of New Markets Tax Credits (NMTC) to the International African American Museum in Charleston, South Carolina, to assist in its construction project and opening. The substantial allocation results in an equity investment of more than $5.5 million from TD.
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Tiger Group Selling Multi-Million-Dollar Disposable and Durable Medical Supply Inventory in Connection with Major Distributor's Wind-Down
October 15, 2020Tiger Group is now accepting offers for bulk purchases of inventories from six facilities on the east and west coasts operated by American Medical Depot (AMD), a major distributor of medical equipment and supplies that is now winding down its business. The multi-million-dollar inventory encompasses over 350,000 products from some 2,000 manufacturers. Items range from personal protective equipment (PPE) to personal paper products, hospital textiles, sterilization wraps, swabs/cotton balls, medical gloves, bandages/dressings, alcohol products, acute care monitoring units, needles, test kits and calibrators.
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CIT Leads Expansion of Credit Facility to $400 Million for Mobilitie
October 15, 2020CIT Group Inc. (NYSE: CIT) today announced that its Technology, Media and Telecommunications business has led an expansion of an existing credit facility to $400 million to support rapidly accelerating growth by Mobilitie Investments III LLC, a telecommunications infrastructure provider. Mobilitie owns and operates a large nationwide portfolio of wireless communications infrastructure, including communication towers and distributed antenna systems across large outdoor and indoor public venues.
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Derek Binns Joins the Tradewind Group as Vice President of Sales for Europe
October 15, 2020Tradewind is pleased to announce that Derek Binns has been appointed to the role of Vice President of Sales Europe, working closely with the firm’s headquarters team in Mönchengladbach, Germany. As VP Sales, Derek will focus on supporting the Tradewind Group’s client base all across Europe, with a specific concentration on countries where major buyers are established.
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Greenberg Traurig Continues Strategic Expansion of Restructuring & Bankruptcy Capabilities, Adds Kevin J. Walsh in Boston
October 15, 2020Global law firm Greenberg Traurig, LLP has added Kevin J. Walsh to its Boston office as a shareholder in the firm’s Restructuring & Bankruptcy Practice. Walsh has more than 25 years of experience advising debtors and creditors on bankruptcy and commercial law matters. These include restructurings, workouts, and commercial financing transactions, as well as the negotiation and documentation of commercial loans and credits.
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Chaparral Energy Successfully Completes Financial Restructuring and Raises $35 Million in New Capital
October 15, 2020Chaparral Energy, Inc. (the “Company” or “Chaparral”) announced today that it successfully completed its financial restructuring and emerged from Chapter 11 as a private, non-SEC filing company. Through the efficient execution of its pre-packaged plan of reorganization, which received broad support from its creditors, the Company has equitized all $300 million of its unsecured 8.75% Senior Notes due 2023 (the “Senior Notes”), reduced its annual interest expense by more than $25 million, and significantly enhanced its financial flexibility.
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CIBC Innovation Banking Provides Digital Healthcare Management Platform, Chronometriq Inc., with $5 Million in Growth Capital Financing
October 15, 2020CIBC Innovation Banking is pleased to announce a $5 million growth capital financing with Montreal-based Chronometriq Inc. (“Chronometriq”), a patient engagement software provider for medical clinics across North America. Chronometriq recently acquired competitor Health Myself as part of its growth strategy, and will use this financing to support its plans for further growth across North America.
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Acme to Buy 27 Kings Food Market and Balducci’s for $96.4M
October 15, 2020Malvern, PA-based Acme Markets Inc., a division of Albertsons Cos., said late Wednesday it will acquire 27 Kings Food Market and Balducci’s Food Lover’s Market stores for $96.4 million in cash under a bankruptcy auction. The stores will become part of the Mid-Atlantic division of Albertsons, which operates Acme and Safeway stores on the east coast.
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Versant Funding LLC Funds a Non-recourse Factoring Facility to a National CBD Distributor
October 15, 2020Versant Funding LLC is pleased to announce it has funded a $1,500,000 non-recourse factoring facility to a national distributor of CBD-infused body care products.
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Crestmark Welcomes James Jenkins as National Account Executive to Crestmark Equipment Finance
October 15, 2020Crestmark is pleased to announce the appointment of James Jenkins as National Account Executive for the Crestmark Equipment Finance (CEF) group. Jenkins reports to Arick Levine, CEF eastern region sales manager. Jenkins brings nearly 40 years of equipment financing experience to Crestmark. Most recently, he served as senior vice president, director of vendor and head of commercial direct with BCI Capital, where he was responsible for building out a vendor platform and managing a small direct salesforce.
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Hovde Group Launches Asset Management Advisory Effort With Addition of Mark Timperman
October 14, 2020Hovde Group (“Hovde”), a leading full service investment bank and broker dealer that provides investment banking, capital markets, equity research, and sales and trading services focused on the financial services sector, today announced that it has formed a new practice to advise asset management and wealth management companies, led by Mark Timperman as Managing Director and Head of Asset Management Investment Banking.
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K&W Cafeterias Retains M&A Specialist SC&H Capital
October 14, 2020By order of the US Bankruptcy Court, Middle District of North Carolina, Winston-Salem Division, SC&H Capital, a leading investment bank specializing in M&A advisory, has been retained as the exclusive investment banker to K&W Cafeterias (“K&W” or “the Company”) for the sale of 18 cafeteria-style restaurants. K&W is an 83-year-old, Winston-Salem based, family owned and operated restaurant chain with locations in North Carolina, South Carolina, and Virginia, specializing in made from scratch, home-style southern food at an affordable price.
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Conifex Announces Secured Revolving Credit Facility
October 14, 2020Conifex Timber Inc. ("Conifex") (TSX: CFF) announced today that it has completed a $10 million secured revolving credit facility (the "Facility") with Wells Fargo Capital Finance Corporation Canada. The Facility is available for a term of 3 years and is substantially secured by Conifex's lumber segment inventory, equipment and accounts receivable.
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Metropolitan Commercial Bank Hires Senior Finance Specialist
October 14, 2020Metropolitan Commercial Bank today announced that Maryann Metlitz joined the Bank as Vice President, Commercial Lending Officer. She will report to Luke J. Kaufman, First Vice President, Head of Commercial Lending. Ms. Metlitz brings more than 30 years of banking experience to Metropolitan Commercial Bank and has focused exclusively on the finance sector for the last 15 years. She was recently Vice President, Dealer Relationship Manager at BB&T Bank.
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Monroe Capital Supports Apax Partners’ Acquisition of MyCase
October 14, 2020Monroe Capital LLC (“Monroe”) today announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the acquisition of MyCase, Inc. by private equity sponsor Apax Partners.
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Enova Completes Acquisition of OnDeck
October 14, 2020Enova International (NYSE: ENVA), a leading financial technology and analytics company offering consumer and small business loans and financing, today announced it has completed the acquisition of On Deck Capital, Inc. (NYSE: ONDK), a leader in online lending for small business, for $1.89 per share, or approximately $122 million. The acquisition creates a company with significant scale and diverse product offerings in consumer and small business market segments with combined originations of nearly $5 billion in 2019 and approximately seven million customers.
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LBC Credit Partners Supports the Investment In Rogers Mechanical Contractors, Inc.
October 13, 2020LBC Credit Partners ("LBC"), one of the leading providers of financing solutions to middle market companies, provided a senior secured credit facility to support the investment in Rogers Mechanical Contractors, Inc. by Craft Work Capital Partners, LLC, a specialized joint venture backed by Aterian Investment Partners. LBC served as agent and sole lead arranger for the senior secured credit facility.
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Z Capital Group Expands Credit Team
October 13, 2020Z Capital Group, LLC ("ZCG" or the "Firm"), a leading privately held global investment firm with complimentary private equity and credit businesses, today announced the addition of Egidio Carlino as Director and Jordan Shrem as Senior Associate. Mr. Carlino is responsible for research and analysis of existing and prospective portfolio leveraged finance investments and Mr. Shrem is responsible for trade support and execution. Both will be members of Z Capital Credit Partners' ("ZCCP") Investment Team.
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Goldman Sachs BDC, Inc. Closes Merger with Goldman Sachs Middle Market Lending Corp.
October 13, 2020Goldman Sachs BDC, Inc. (“GSBD” or the “Company”) (NYSE: GSBD) announced today that it has completed its previously announced merger with Goldman Sachs Middle Market Lending Corp. (“MMLC”). The transaction has more than doubled GSBD’s asset base to $3.5 billion and has delivered significant deleveraging, which will enable the Company to take advantage of attractive lending opportunities available in the current environment.
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