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- Convene Hospitality Group Secures $230 Million Of Strategic Growth Capital
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- Top California Lender Begins 2026 with New Investor Capital and $25.9 Million in Loan Closings; Texas Expansion Underway
- Top California Lender Begins 2026 with New Investor Capital and $25.9 Million in Loan Closings; Texas Expansion Underway
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White Oak Commercial Finance Delivers $50 Million ABL to Digital Media & Advertising Company
White Oak Commercial Finance, LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC, announced it provided a $50 million asset-based credit facility to a leading, U.S.-based digital media & advertising company to support its continuing growth.
The transaction was structured against the company’s accounts receivable, and the proceeds will be used to finance its growth and capex spending while improving its liquidity and working capital position.
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Easy Ice, LLC has been Acquired by Freeman Spogli & Co. and Management
January 13, 2020Freeman Spogli's legal counsel was Morgan, Lewis and Bockius LLP. Easy Ice was advised by FocalPoint Securities, LLC and its legal counsel was Queen, Saenz + Schutz PLLC. Varagon Capital Partners and Madison Capital provided the debt financing to support the acquisition.
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TAB Bank Provides Commercial Finance Company in Texas with a $4 Million Rediscount Credit Facility
January 13, 2020TAB Bank is pleased to announce it has provided a $4 million rediscount credit facility for a commercial finance company located in Texas. The company is an entrepreneurial factoring and ABL shop that focuses on construction working capital finance.
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Gibraltar Welcomes New SVP Randi M. Hershgordon
January 13, 2020Randi has more than 30 years of professional experience serving middle-market companies. She brings to Gibraltar keen underwriting, credit analysis, and risk management skills, combined with a steadfast commitment to delivering personalized service that fosters strong working relationships.
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Jeff Griffor Joins Avidbank as Senior Vice President to Expand Northeast Presence
January 13, 2020Mr. Griffor joined the Bank as Senior Vice President, Venture Lending and will be based in Boston. He comes to Avidbank with nearly 30 years of experience in diverse roles within commercial finance in the U.S. and Canada, most recently as Managing Director at Hercules Capital where his focus was driving growth in the Technology and Sustainability markets.
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Amerisource Closes $1,000,000 Credit Facility for Energy Services Company
January 13, 2020Amerisource Business Capital announced the closing and funding of a $1,000,000 revolving credit facility for a wind farm maintenance company based in Colorado. Proceeds of the facility are being used to support working capital.
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Versant Funding LLC Announces Factoring Facility
January 13, 2020Versant Funding LLC is pleased to announce it has funded a $3,000,000 non-recourse factoring facility to a growing uniform manufacturer based in the Northeast.
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David Caradine Joins First Business Growth Funding as Director of Risk Management
January 13, 2020David has more than 30 years of experience in commercial finance with an emphasis in factoring and operations management. In his role with First Business Growth Funding, he will direct Portfolio Management and Operations.
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John Socknat Named Managing Partner of Ballard Spahr’s Washington, D.C. Office
January 13, 2020John Socknat—a financial services attorney with more than 25 years of experience advising clients in the mortgage and consumer financial services industries—has been named Managing Partner for Ballard Spahr’s Washington, D.C., office, firm Chair Mark Stewart announced today.
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FTI Consulting Promotes 11 Professionals within Corporate Finance & Restructuring to Senior Managing Director
January 13, 2020FTI Consulting, Inc. (NYSE: FCN) today announced the promotion of 11 professionals within the firm’s Corporate Finance & Restructuring segment to Senior Managing Director. The promotions include Anton Chernuousenko, Leonardo Florencio, Heath Gray, Rick Jordon, Christopher Lee, Dustin Olver, Michael Ovalles, Brian Pitkin, Chris Post, Devi Rajani and Abhinav Trehan.
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Ladder Capital Corp Reports Extensions of Committed Funding Facilities and its Revolving Credit Facility
January 9, 2020Ladder Capital Corp (“Ladder” or the “Company”) (NYSE: LADR) today announced that it recently extended the maturity dates of five of its loan repurchase facilities, totaling $1.4 billion of committed funding capacity, its $400 million committed securities repurchase facility, and its $266 million revolving credit facility.
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Borden Becomes Second Big U.S. Milk Producer to File for Bankruptcy
January 9, 2020Private equity firm ACON Investments LLC and affiliates acquired Borden in 2017 and the company received debt facilities from GSO Capital Partners and PNC Bank, according to a statement at the time. Affiliates of KKR Credit Advisors US LLC and Franklin Square Holdings LP now hold $175 million of Borden debt in the form of a term loan, while PNC holds a $30 million term loan and a $75 million revolving loan
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Hughes Hubbard Promotes Two to Partnership and Two to Counsel
January 9, 2020Hughes Hubbard & Reed is pleased to announce that effective Jan. 1, Alan Kravitz and Dustin Smith have been promoted to the partnership. The firm also elevated Amina Hassan and Tamara Kraljic to counsel. Kravitz is a member of Hughes Hubbard’s Tax department, and Smith is a member the Corporate Reorganization and Bankruptcy group; both are based in New York. Hassan is a litigator and a member of the Employment and Unfair Competition group, also in Hughes Hubbard’s New York office. Kraljic is a member of the Anti-Corruption and Internal Investigations group and resides in the firm’s Washington, D.C. office.
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Sea-Vista Announces Refinancing of Credit Facilities, Commencement of New Charters, and Increase in Charter Backlog
January 9, 2020SEA-Vista I LLC, an indirect wholly-owned subsidiary of SEACOR Holdings Inc. , announced today that it entered into an amended and restated $200 million credit agreement, which refinanced its existing credit facilities, with a syndicate of lenders led by JPMorgan Chase. The Agreement provides for a $100 million revolving credit facility and a $100 million term loan facility, both of which mature in December 2024.
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Aflac Global Investments Announces Strategic Partnership with Varagon Capital Partners, L.P.
January 9, 2020In addition, Aflac Global Investments is making a multi-year commitment to build a portfolio of up to $3.0 billion of middle market loans on behalf of Aflac Japan and Aflac U.S., subject to additional terms and conditions. Rothschild & Co served as financial advisor, and Debevoise & Plimpton as legal advisor, to Aflac Global Investments. Wells Fargo Securities served as financial advisor and Davis Polk & Wardwell served as legal advisor to Varagon.
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CIT Leads $56 Million Financing for Commercial Shipping Vessels
January 9, 2020CIT Group Inc. (NYSE: CIT) today announced that its Maritime Finance business led the arrangement of $56 million in financing toward the acquisition of two large commercial shipping tankers, which are employed on long-term charters. The financing is part of a transaction involving Advantage Tankers and Fleetscape Capital.
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Angelo Gordon’s Twin Brook Capital Partners Commits Over $3.3 Billion to Private Equity-backed Healthcare Transactions
January 9, 2020Twin Brook served as lead agent on all the healthcare transactions it supported in 2019, which included 14 new platform financings and 10 add-on financings.
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Amerisource Closes $2,000,000 Facility for Utility Contractor
January 9, 2020Nic Wagner, Regional Market Manager for Amerisource, stated: “We are pleased to welcome this new client, which was referred to us by their consultant. Closing was achieved in just over two weeks, which allowed the company to continue its operational timeline without delay and without the need for bridge financing. We look forward to our continued partnership.”
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North Mill Capital Acquires Sage Business Credit Portfolio
January 8, 2020North Mill Capital LLC (NMC) has acquired the portfolio of Sage Business Credit, a Minneapolis, MN-based company. The portfolio will be serviced by NMC's factoring operation in Minneapolis.
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Old Hill Partners Provides a $5 Million Revolving-to-Term Credit Facility to a Merchant Cash Advance Company
January 8, 2020Old Hill provided a $5 million senior secured revolving-to-term credit facility to a specialty finance company that funds small businesses in the form of merchant cash advances. The facility is secured by a first lien perfected security interest in the advances.
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Tim Kubiak Named Head of Wells Fargo Rail
January 8, 2020In this new role, Kubiak will lead all functions for Wells Fargo Rail, the largest rail equipment operating lessor in North America with one of the most diverse fleets in the industry. He will be responsible for developing business strategies and overseeing the group’s assets, comprised of more than 175,000 railcars and 1,800 locomotives.
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