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Tobias Nanda to Lead Gordon Brothers’ Brands Team
Gordon Brothers, the global advisory, restructuring and investment firm, has named Tobias Nanda as President of Brands.
Based in Boston, Nanda is responsible for developing and executing Gordon Brothers’ brand investment strategies through acquisition and lending in all global markets. He has nearly 20 years of experience leading deals, serving on boards of directors and actively working with management teams in private equity to develop and implement their corporate growth strategies.
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CVC Credit Partners Supports the Expansion of Alline Salon Group
February 4, 2020CVC Credit Partners is pleased to announce that it has provided the first lien funding for Vision Growth Partners' expansion of Alline Salon Group and going forward will further support the growth strategy through the provision of a delayed draw term loan facility. Cowen's Debt Advisory Group acted as the debt advisor for the transaction.
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B. Riley Adds Veteran Real Estate Turnaround Professional, Michael Jerbich
February 4, 2020B. Riley Financial, Inc. (NASDAQ:RILY) ("B. Riley" or the "Company"), a diversified provider of business advisory and financial services which operates through several wholly-owned subsidiaries, today announced Michael Jerbich has joined as President of B. Riley Real Estate, LLC. A veteran real estate turnaround professional, Jerbich will lead a new business vertical which specializes in providing end-to-end solutions to maximize distressed real estate values.
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Leslie Godridge to Retire From U.S. Bank; Jim Kelligrew Assumes Vice Chair Role for Corporate & Commercial Banking
February 3, 2020U.S. Bank said today that Leslie Godridge, the company’s vice chair and co-head of Corporate & Commercial Banking, has announced her retirement after 13 years of service to the bank and nearly 40 years in the industry. Jim Kelligrew, who has co-led the Corporate & Commercial Banking division with Godridge for the past four years, will become the new vice chair overseeing the entire organization.
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Oxford Finance Closes Credit Facility with Impact Advisors
February 3, 2020Oxford Finance LLC ("Oxford"), a specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide, today announced the closing of a senior credit facility to Impact Advisors ("the Company"), a leading provider of clinical, revenue cycle and information technology advisory services to the healthcare industry. Concurrently, the Company entered into a strategic partnership with Chicago Pacific Founders ("CPF"), an investment firm exclusively focused on healthcare services and caring for aging populations. Oxford is the sole lead arranger and administrative agent in this transaction.
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Ares Management Corporation to Acquire Seven CLO Contracts Through a Managing Interest in Crestline Denali Capital
February 3, 2020Berkshire Global Advisors served as financial advisor and Winston & Strawn LLP served as legal counsel to Crestline Denali. Latham & Watkins LLP served as legal counsel to Ares.
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Energy Industry Expert Oleg Mikhailov Joins AlixPartners as a Managing Director
February 3, 2020AlixPartners, announced today that energy industry expert Oleg Mikhailov has joined as a Managing Director and one of the key leaders in the firm’s worldwide energy and process industries practice. He will be based in AlixPartners’ Houston office.
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Hilco Corporate Finance Hires Industry Expert Brian Graves as Managing Director
February 3, 2020Hilco Corporate Finance (HCF) announced today that Brian Graves has joined the company as Managing Director. In this capacity, Mr. Graves will manage the continued growth and development of the investment banking business. Mr. Graves will be responsible for generating new business for the firm, managing existing client engagements, and overseeing junior staff.
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Sallyport Commercial Finance Supports Growing Technology Company
February 3, 2020Sallyport Commercial Finance arranges a $1,000,000 accounts receivable facility to a leading, hi-tech camera supplier in the perimeter surveillance industry.
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CIT Launches HOA Premium Reserve Solution for Community Associations
February 3, 2020CIT Group Inc. (NYSE: CIT) today announced its newly-acquired Community Association Banking division is launching a new suite of premium reserve accounts for homeowner association deposits. These accounts offer competitive returns and the backing of a surety bond for balances over $250,000 for community associations, and the convenience and efficiency of having both operating accounts and reserve accounts at one bank for community managers.
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Assets of Plastic Sheet Extrusion and Thermoforming Plant Up for Bid
February 3, 2020Tiger Group to sell equipment surplus to ongoing operations of D&W Fine Pack in February 6 live online webcast auction of all assets from the San Bernardino, CA facility.
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Access Capital Provides $1 Million Credit Facility To Government IT Consulting and Staffing Firm
February 3, 2020Access Capital structured an asset-based lending facility for Universal once it became evident that the company’s banking relationship was no longer meeting its needs. Access Capital will be supporting UNIVERSAL’s growth with a $1 million line of credit.
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Versant Funding LLC Funds a Non-recourse Factoring Facility to a Manufacturer and Distributor
February 3, 2020Versant Funding LLC is pleased to announce it has funded a $2,000,000 non-recourse factoring facility to a manufacturer and distributor which serves major commercial airlines. The business needed additional working capital to fund its expansion and their senior lender agreed to subordinate its lien on accounts receivables due from only a single customer to allow the business to raise cash.
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Postal Realty Trust Exercises $50 Million of Accordion Feature on Senior Revolving Credit Facility
February 3, 2020People’s United Bank led the bank group which also included BMO Capital Markets Corp. as syndication agent, and Bryn Mawr Trust, Stifel Nicolaus & Company and TriState Capital as participants.
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Cresco Labs Closes $100 Million Senior Secured Credit Facility
February 3, 2020Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco Labs” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, today announced that it has closed the recently announced non-brokered credit agreement (the “Credit Agreement”) for a senior secured term loan (the “Senior Loan”) in an initial aggregate principal amount of US$100 million, with a mutual option to increase the size of the facility to a maximum of US$200 million.
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B&W Announces Comprehensive Debt Refinancing Agreement as Financial Performance Improves
February 3, 2020Provides $200 million commitment to fully refinance existing revolving credit facility; provides an initial $30 million of working capital; provides new $30 million revolving credit facility in May 2020; new maturity date is January 2022; company expects fourth quarter 2019 results to significantly outperform the third quarter, with a return to positive GAAP consolidated operating income for the first time in 3 years.
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Stonebriar Commercial Finance Closes $30 Million Equipment Lease
February 3, 2020Stonebriar Commercial Finance (“SCF”) has closed an additional $30 million equipment lease facility with its existing customer, an industry-leading food processing company, to support the growth of a new innovative product line. SCF will provide interim financing during the construction term of this new production line, which is forecast to be fully completed by June 2020. When fully funded, SCF’s total outstanding for this key customer will exceed $70 million.
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North Mill Capital Provides $7 Million to Phoenix Textile Corporation
February 3, 2020Phoenix Textile is a distributor of textiles, sheets, linens and interiors to residential, hospitality, government institutions and healthcare facilities across the country. The family-owned and operated company has been in business since 1983 and is headquartered in Missouri.
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Celtic Capital Corporation Provides $1.4 Million for California-based Company
February 3, 2020Celtic Capital Corporation today announced its most recent new client relationship – a California-based company that sells fresh and frozen seafood to wholesale and retail customers.
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Atlantic Power Corporation Announces Amendment to Credit Facilities
February 3, 2020Atlantic Power Corporation (NYSE: AT) (TSX: ATP) ("Atlantic Power" or the "Company") announced that on January 31, 2020, it executed an amendment to its credit facilities, consisting of the $380 million senior secured term loan ("Term Loan") and the $200 million senior secured revolving credit facility ("Revolver"). Both the Term Loan and the Revolver are at the Company's APLP Holdings Limited Partnership ("APLP Holdings") subsidiary.
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Ultimate Finance Launches Structured Finance Proposition
February 3, 2020Specialist asset-based lender, Ultimate Finance, is today announcing the launch of its Structured Finance proposition providing a streamlined solution for UK businesses to release working capital and invest in their growth. Structured Finance from Ultimate Finance will enable introducers to connect their clients to tailored, multi-asset funding solutions of between £350k and £5 million against several assets simultaneously, such as unpaid invoices, plant and machinery, and property.
The Secured Lender
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