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TSL Express Daily Articles & News
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Antares Supports Harvest Partners’ Investment in Galway Insurance Holdings With $1.4 Billion in Credit Facilities
Antares announced today that it served as joint lead arranger and is acting as administrative agent on $1.4 billion in senior secured credit facilities to support the recapitalization of Galway Insurance Holdings (“Galway”), the holding company for EPIC Brokers & Consultants (“EPIC”) and JenCap Holdings (“JenCap”) by Harvest Partners, LP and its affiliates (“Harvest”). Galway’s existing private equity investors, Oak Hill Capital (“Oak Hill”) and The Carlyle Group (“Carlyle”), will reinvest alongside the management team and employee shareholders, who will remain significant shareholders.
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TSL Express Daily Headlines & News
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Back from the Field, Aerial Access Equipment’s Entire Fleet of Construction Rental Assets Hits the Block in a Two-Day Final Auction
November 7, 2019With all rental units returned to AAE’s yards, Tiger Group to liquidate more than 700 aerial lift and construction fleet assets—including late-model, rental-ready equipment—on November 19th and 20th.
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ATSG Amends Bank Credit Facility
November 7, 2019Air Transport Services Group, Inc. (NASDAQ:ATSG) announced today that it has extended its senior secured credit facility until November 30, 2024, expanded the facility’s revolver portion, consolidated and lowered its term loans, and reduced pricing to immediately lower interest cost.
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Fairstone Financial Inc. Upsizes Credit Facility to $1.85 Billion
November 7, 2019Fairstone Financial Inc. ("Fairstone" or "the Company"), Canada's leading non-bank provider of responsible lending solutions for near-prime borrowers, announced today that it recently completed an optimization of its three-year revolving securitization facility ("Credit Facility") provided by a banking syndicate, comprised of leading Canadian and international banks.
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ABLSoft Partners with Validis to Transform Asset Based Lending
November 7, 2019Validis, a pioneer of financial data sharing and standardization technology, today announced that they are entering an exciting partnership with ABLSoft. ABLSoft’s flexible lending platform helps lenders save time and scale operations with intelligent workflows, reporting and alerts.
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Grant Thornton Names Bradley J. Preber as CEO
November 6, 2019The Partnership Board at Grant Thornton LLP announced that Bradley J. Preber will serve as the firm’s CEO. The board appointed Preber to the role following a comprehensive search process, and the firm’s partners and principals ratified the selection.
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US LBM Amends Credit Facility, Extends Maturity To 2024
November 6, 2019The revolving credit facility was supported by a syndicate of six lenders, including Royal Bank of Canada as administrative agent. Other participants include Wells Fargo Bank, National Association; SunTrust Bank; U.S. Bank, National Association; Credit Suisse AG, Cayman Islands Branch; and Barclays Bank PLC.
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Alvarez & Marsal Responds to Increased Demand for Healthcare Compliance Advisory Services
November 6, 2019Leading global professional services firm Alvarez & Marsal (A&M) Healthcare Industry Group has enhanced its Healthcare Compliance Advisory services with the appointment of Colleen Curran as Managing Director and Mary Findley as Senior Director. Ms. Curran will lead A&M’s Healthcare Compliance Advisory practice. Ms. Curran and Ms. Findley bring decades of compliance and regulatory experience across diverse sectors of the healthcare industry.
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John Marshall Bank Promotes Regional Executive, James Estep
November 6, 2019John Marshall Bank is pleased to announce the promotion of James Estep to Regional Executive in Fairfax. James joined John Marshall Bank in 2018 as Regional Executive in Reston. Under James’ leadership, the Reston region has seen accelerated growth and market expansion. As Regional Executive in Fairfax, Estep will provide operational and strategic direction in Tysons while continuing to oversee JMB’s efforts in Reston.
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MidCap Business Credit Announces Two New Hires
November 6, 2019MidCap Business Credit LLC has appointed Bill Nay as Senior Vice President to its business development team and Rebecca Smith as Senior Vice President to its risk team as an underwriter.
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Beef International, Inc. to Sell Operations to RKW Holdings, LLC
November 6, 2019Beef International Inc., (“BI Foods”) a custom manufacturer of premium meat products, announced today that it has reached an agreement to sell its business operations and certain assets to RKW Holdings, LLC (“RKW”). The transaction is expected to close within the next 30 – 45 days. RKW will continue to operate the business out of the existing Beef International location in Pennsauken, NJ and employ over 50 people.
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Crestmark Provides More Than $34.3 Million in Commercial Financing to 99 Businesses in the Second Half of October
November 6, 2019Crestmark secured a total of $800,000 in ABL financial solutions for two new clients; Crestmark Equipment Finance provided $15,558,380 in 14 new lease transactions; Crestmark Vendor Finance provided $9,586,873 in 88 new lease transactions; and the Government Guaranteed Lending Division provided $8,355,000 in financing for one new client in the second half of October.
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California Premium Home Furnishings Company Secures a $2.5MM Inventory Finance Facility; Worthy Lending LLC Joins Syndication
November 6, 2019Worthy Lending LLC (WL) provided $1MM participating in a $2.5MM inventory finance facility for a west coast high-end home furnishings manufacturer/retailer. This well-established top-quality furniture can be found in showrooms located in Georgia, Illinois, Ohio, Texas, Colorado, Arizona, California, Florida, Nevada, New York, DC, and retail outlets in Europe.
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TAB Bank Provides Commercial Printing Company in Illinois with a $3 Million Asset-Based Credit Facility
November 6, 2019TAB Bank is pleased to announce it has provided a $3 million asset-based revolving credit facility for a commercial printing company located in Illinois. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs.
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Citizens Commercial Banking Provides $138 Million Loan to DSC Partners for Acquisition of 28 Maryland Office and Industrial Buildings
November 6, 2019Citizens Commercial Banking announced today that its Commercial Real Estate Finance team is providing a $138 million loan to Washington, D.C.-based DSC Partners, a real estate investment company founded in 2017 by former First Potomac Realty Trust executives, for the acquisition of 28 office and industrial buildings located in Montgomery County, MD. Citizens is Left Lead Bank and Administrative Agent.
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Cambridge Wilkinson Investment Banking Announces Transaction
November 6, 2019Cambridge Wilkinson has arranged a $50 million senior debt facility for a 15-year-old national specialty finance company that provides consumer-oriented loans and purchases consumer receivables across a number of consumer sub-categories.
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Healthcare Services Executives Predict Another Strong Year Ahead Despite Cooling M&A Outlook
November 6, 2019A Capital One annual survey revealed that healthcare services executives continue to have an optimistic outlook for business performance heading into 2020. Over the next year, more than two-thirds (69%) of executives predict their businesses will perform better compared to the last 12 months, with just 4% expecting a drop in performance in that time period.
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Optima Partners, LLC Establishes Chicago Office and Promotes Capital Markets Partner to Lead Midwest Regional Practice
November 6, 2019Expansion comes in the wake of strong regional client growth and the continued strength of traditional and alternative asset management in the Midwest.
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Exchange Income Corporation Secures New Credit Facility
November 6, 2019National Bank Financial Inc., Canadian Imperial Bank of Commerce, and The Toronto-Dominion Bank are Co-Lead Arrangers and Joint Bookrunners to the new facility. National Bank Financial Inc., is Agent, and the follow lenders complete the syndicate; The Bank of Nova Scotia, ATB Financial, Laurentian Bank of Canada, Bank of Montreal, HSBC Bank Canada, Raymond James Finance Company of Canada Ltd., Royal Bank of Canada, Wells Fargo Bank, N.A. Canadian Branch.
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Cheniere Energy, Inc. Announces Intent to Offer $1.0 Billion Senior Secured Notes Due 2029 by Cheniere Corpus Christi Holdings, LLC
November 6, 2019Cheniere Energy, Inc. ("Cheniere") (NYSE American: LNG) announced today that its wholly owned subsidiary, Cheniere Corpus Christi Holdings, LLC ("CCH") intends to offer, subject to market and other conditions, $1.0 billion principal amount of Senior Secured Notes due 2029 ("CCH 2029 Notes").
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Utica Equipment Finance Completes Funding of a Capital Lease Line
November 5, 2019Utica Equipment Finance completed the funding of a capital lease line up to $2.0MM secured by passenger cars to a for-hire vehicle rental car company located in the northeast. Utica provided the working capital for this company to expand and grow operations.
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