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  • Gordon Brothers Sells Interest in Gordon Brothers Finance Company
    November 16, 2020
    Gordon Brothers, the global advisory, restructuring and investment firm, scales up its special situations lending and investment platform through the addition of half a dozen key industry veterans from leading lending institutions across the globe. In conjunction with the expanding team and enhanced platform, Gordon Brothers sold its minority interest in Gordon Brothers Finance Company (“GBFC”), a private commercial finance company on November 3.
  • Justice Commences Total Inventory Blowout Sales in 85 Locations and Online
    November 16, 2020
    SB360 Capital Partners, one of the country’s leading asset disposition specialists, announced the start of “Total Inventory Blowout” sales in 85 Justice stores as well as the e-commerce site at www.shopjustice.com. SB360 will be the exclusive consultant to assist Justice as they conduct these sales. Justice is a destination store for tween girls, offering a large selection of tween fashion merchandise and accessories at affordable prices.
  • J D Factors Announces Factoring Facilities
    November 16, 2020
    J D Factors announced it has provided the following factoring facilities: $75,000 to a transportation company in Quebec; $1,500,000 to a telecommunications company in Florida; $150,000 to a transportation company in Ontario; $200,000 to a transportation company in New Jersey and $350,000 to a transportation company in Illinois.
  • BancTrust & Co. Investment Bank Announces New Senior Capital Markets Hire to Reinforce London Team
    November 16, 2020
    BancTrust & Co. Investment Bank (BancTrust), the London-based Emerging Markets boutique investment bank, is pleased to announce a new senior hire to its Debt Capital Markets team.
  • King Trade Capital Provides a $4.5 million Supply Chain Finance Facility for NY Medical Gown Supplier
    November 16, 2020
    King Trade Capital is pleased to announce the completion of a $4.5 million purchase order-based supply chain finance facility for a New York based PPE distributor importing medical gowns to be delivered to the US Government. King Trade was contacted by a nationwide asset-based lender that was asked to help find a PO Finance partner to finance the gown company’s large contract awarded by the US Government. The government contract created a supply chain finance need to help the client pay for the production of gowns manufactured in China and ship them to the US.
  • Amerisource Closes $1,000,000 Credit Facility for Agricultural Processor
    November 16, 2020
    Amerisource Business Capital announced the closing and funding of a $1,000,000 credit facility for a Michigan based grower and processor. The proceeds are being used to fund the company’s growth and expand their facilities.
  • Audio Visual Industry Recovery Values Demonstrating Resilience During COVID-19 Crisis
    November 12, 2020
    Hilco Global has issued a midstream Q4 2020 report regarding the impact of the ongoing pandemic on the TV/Film/Broadcast and Concert/Theater/Tradeshow segments of the audio visual (AV) industry, and how the distinct challenges associated with each business model are impacting gear sales, asset values and a potential path to recovery.
  • CIT Serves as Joint Lead Arranger for $70 Million Financing for Personal Care Manufacturer
    November 12, 2020
    CIT Group Inc. (NYSE: CIT) today announced that its Sponsor Finance business, part of the Commercial Finance division, served as joint lead arranger and joint bookrunner for a $70 million financing on behalf of Estyle Holdings Inc., makers of Eco Style hair gel and a wide range of other beauty and personal care products. Based in Jacksonville, Florida, Estyle sells its products through distributors, beauty supply stores and leading national retail chains, targeting multicultural consumers.
  • Q3 Shows Highest Chapter 11 Filings Since Great Recession
    November 12, 2020
    The impact of COVID-19 is becoming evident in the accelerating Chapter 11 filings. The amount of Chapter 11 bankruptcy filings in the third quarter, which are tracked in the newest Polsinelli-TrBK Distress Indices Report, have hit the highest level since 2010. This trend is expected to continue into 2021. The third quarter shows clear signs of the pandemic’s impact on bankruptcy filings and is a continuation of the filing spike from the prior quarter. The filings occurring now are either defensive – to stop creditor enforcement actions – or offensive – to implement a restructuring agreement with creditors. This is the sixth consecutive quarter where Chapter 11 distress has measured over 50 points; the Index hasn’t seen that level of distress since 2011.
  • KeyBank Names John J. Manginelli as Market President
    November 12, 2020
    KeyBank announced that John J. Manginelli, Northeast regional executive for KeyBank Real Estate Capital, will assume an expanded role that includes market president for Key’s Hudson Valley/Metro New York market. As market president, Manginelli will drive collaboration and coordination of Key activities and resources in the market, as well as serve as the face and voice of Key in the community. He will also continue to lead Key’s real estate capital business throughout the northeast, with main offices in New York City, Boston, Washington DC, and Philadelphia.
  • HKW Hires Vice President as Focus in the Technology Sector Expands
    November 12, 2020
    HKW, an Indianapolis-based middle-market private equity firm, today announced Rick Ammar has joined the firm as vice president. Mr. Ammar will serve in a senior role as part of HKW’s expanding technology efforts.
  • Crystal Financial Provides $27,500,000 Emergence Facility for True Religion Apparel, Inc.
    November 12, 2020
    Crystal Financial LLC announced the closing of a $27,500,000 Senior Credit Facility for True Religion Apparel, Inc. (“True Religion” or “the Company”). Founded in 2002, True Religion is a lifestyle apparel brand which aims to deliver an exclusive assortment of unique designs to its customer base. Known for its signature styling, the Company focuses on producing high quality premium denim and sportswear for men, women, and children. True Religion’s products are sold at the Company’s retail stores, www.truereligion.com, department stores, and at specialty retailers globally.
  • Marco Capital Inc. Grows Its Operations Group
    November 12, 2020
    In order to further accommodate a growing portfolio of Factoring transactions, Marco Capital Inc (MCI) has hired Luminita Pauna (Lumi) as its Director of Operations. Lumi has over seven (7) years of experience at the Florida-based finance provider Trade Finance Solutions (later to become Global Merchant Fund then eCapital). As both an Account Manager and then advancing to a managing Account Executive position, she brings a wealth of experience to MCI in the fields of Factoring, Asset Based Lending, Purchase Order Finance, and Supply Chain Finance.
  • A&G Forms Financial Reporting and Property Analysis Group
    November 12, 2020
    Led by former Ashley Furniture VP, division uses analytics to bolster real estate strategies of healthy and distressed entities in retail, hospitality, office, education and other sectors.
  • Amerisource Closes $3,000,000 Credit Facility for Membrane Manufacturer
    November 12, 2020
    Amerisource Business Capital announced the closing and funding of a $3,000,000 credit facility for a Texas-based fabricator of membranes used in water treatment facilities. The Company, owned by a foreign parent, was seeking an asset-based facility to secure working capital.
  • PlainsCapital Bank Promotes Fort Worth Leadership
    November 12, 2020
    PlainsCapital Bank recently announced that Keeton Moore has been promoted to president of its downtown Fort Worth branch at 801 Houston Street. Moore will lead the branch’s commercial lending team, focusing on expanding PlainsCapital’s presence in the area and executing the Bank’s long-term growth strategies for North Texas.
  • Riveron Expands Restructuring Capabilities with Acquisition of Winter Harbor
    November 11, 2020
    Riveron, a national business advisory firm specializing in accounting, finance, and operations, announced today its acquisition of Winter Harbor, a Boston-based provider of restructuring and turnaround services. The acquisition reinforces Riveron’s commitment to strengthening and expanding its strategic, operational, and financial solutions for companies facing distressed and special situations in addition to serving healthy companies across the corporate and private equity landscape.
  • BMO Harris Launches $5 Billion Program to help Black and Latino Businesses and Communities, With ‘Significant’ Investment in Chicago
    November 11, 2020
    BMO Harris is launching a $5 billion initiative to support minority-owned businesses and communities, with a significant investment earmarked for Chicago. The five-year program, announced Tuesday, will increase commercial lending opportunities for Black and Latino businesses, which have been hard-hit during the pandemic. It also will include direct investment in underserved communities through affordable housing and neighborhood revitalization.
  • Cypress Creek Renewables Closes $200M Financing
    November 11, 2020
    Investec Power and Infrastructure Finance – North America (Investec) acted as sole bookrunner, coordinating lead arranger, and administrative agent on the transaction. In addition to Investec, other joint lead arrangers for the transaction included Credit Agricole, East West Bank, and Silicon Valley Bank. Cypress Creek was represented by Kirkland & Ellis LLP as its lead transaction counsel. The lenders were represented by Milbank as transaction counsel.
  • Vaquero Midstream LLC Announces Completion Of Credit Facility
    November 11, 2020
    Vaquero Midstream announced today the closing of a $200 Million revolving credit facility on October 29, 2020. Vaquero extended the commitment of the original facility for two years, to December 2023. The facility is available for general corporate purposes, including funding capital expenditures, working capital and operating expenses. The bank group is now led by BOK Financial.