TSL Express Daily Articles & News
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Gerber Finance Launches Gerber+
Gerber Finance, a leading finance partner for companies experiencing accelerated growth, is expanding its portfolio and client offerings with the launch of Gerber+. This new division will service businesses seeking a higher level of funding ranging from $10 to $25 million. Gerber Finance currently focuses on facilities up to $10 million. Gerber is also announcing its first Gerber+ client, Molded Acoustical Products (MAP) of Easton, a full-service insulation manufacturing solutions company.
Gerber has established this new division alongside its parent company, eCapital Corp., ("eCapital"), a leading alternative finance provider, to help companies grow and achieve their mission by accelerating their access to capital. The new division will be led by Senior Vice President Entela Semini, who will serve as Northeast director of Gerber+.
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Conway MacKenzie Launches Consumer Products Practice
September 9, 2019This team will help clients capitalize on growth opportunities and navigate challenges while facing unprecedented disruption from e-commerce, demographics trends, regulatory uncertainty, and shifts in consumer-brand relationships.
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Hilco Global Donates More Than $75,000 of Children’s Shoes to Disadvantaged Youth
September 9, 2019The in-kind donation is valued at over $75,000 at retail, and the shoes are being distributed through the Hilco Global philanthropic arm called Hilco Helps (www.hilcohelps.com).
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IES Holdings Announces Extension of Credit Agreement with Improved Terms
September 9, 2019IES Holdings, Inc. (or “IES” or the “Company”) (IESC) today announced that it has entered into an amendment to its credit agreement with Wells Fargo Bank, National Association.
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VMAC Holdings Announces New $5 Million Line of Credit Facility
September 9, 2019VMAC Holdings LLC, a national owner and operator of rideshare, microtransit, and Transportation as a Service fleets, today announced the closing of a $5 million line of credit facility with Mercedes-Benz Financial Services USA LLC, a leading, captive financial services provider within the Daimler Mobility AG group of companies
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King & Spalding’s New York Office Adds Corporate Partner Jonathan Arkins
September 9, 2019King & Spalding today announced that Jonathan Arkins has joined as a partner in the firm’s Corporate, Finance and Investments (CFI) practice group in its New York office.
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Artis Trade Systems Continues Rapid Growth
September 9, 2019Artis Trade Systems (“Artis”) continues its rapid growth as it added another client to ArtisPay©, Artis’ Supply Chain Finance (SCF) software platform. On August 28th, Artis entered into an agreement with an independent lender based out of Austin, TX.
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Allied Affiliated Funding Announces Closed Transaction
September 9, 2019Allied Affiliated Funding, a division of Axiom Bank, N.A. provided $1,500,000 in receivables financing to a Florida-based company that has been in business for over a decade, designing and assembling communication systems for the government and large, commercial companies and $150,000 in receivables financing to a Texas-based start-up.
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Rosenthal Provides $3M PO Finance Facility for Women's Footwear Importer
September 9, 2019Rosenthal & Rosenthal, Inc., the leading independent factoring, asset-based lending and purchase order financing firm in the United States, today announced the completion of a recent $3 million inventory production finance deal for an iconic importer of women’s footwear.
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Sallyport Commercial Finance Supports a Manufacturer in the Food and Beverage Industry
September 9, 2019With Sallyport’s assistance, the company intends to expand their product line and progress into other major Canadian retailers. Sallyport Commercial Finance is excited to collaborate with this company as they continue to fulfill their Hopes and Dreams and provide their customers with the “perfect tortilla.”
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Fred’s Commences Voluntary Chapter 11 Proceedings
September 9, 2019The Company has also filed a motion seeking interim and final approval of the U.S. Bankruptcy Court to enter into a proposed debtor-in-possession (“DIP”) financing agreement (the "Financing Agreement") with certain of the Company’s existing lenders, which would provide for up to $35 million in new funding.
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Cheniere Partners Announces Offering of $1.0 Billion Senior Notes Due 2029
September 9, 2019Cheniere Partners intends to use the proceeds from the offering to prepay all of the outstanding term loans under its senior secured credit facilities due 2024 (the “CQP Credit Facilities”) and for general corporate purposes, including funding future capital expenditures in connection with the construction of Train 6 at the Sabine Pass liquefaction project.
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Restaurant Brands International Inc. Announces Launch of First Lien Senior Secured Notes Offering and Intention to Enter into a New Term Loan Facility and Amend Revolving Credit Facility
September 9, 2019Restaurant Brands International Inc. ("RBI") (TSX/NYSE: QSR, TSX: QSP), 1011778 B .C. Unlimited Liability Company (the "Issuer") and New Red Finance, Inc. (the "Co-Issuer" and, together with the Issuer, the "Issuers") announced today that the Issuers have launched an offering of $500 million in aggregate principal amount of First Lien Senior Secured Notes due 2028.
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Tradewind Closes $15 Million Credit Facility for Manufacturer Headquartered in Europe
September 9, 2019Tradewind has provided a $15 million credit facility to a 75-year-old manufacturer headquartered in Europe with a subsidiary in the USA. The company sells globally and is using the facility to support 120-day open account payment terms.
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ExWorks Capital Welcomes Donald Baty To The Team
September 9, 2019After 34 years in private practice, Don joined ExWorks Capital as Chief Transaction Counsel and Managing Director in July 2019. He is responsible for managing and supervising legal matters for both domestic and international financing transactions.
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Abacus Finance Supports May River's New Portfolio Company, AMP, to Buy Kason Corporation
September 9, 2019Abacus Finance Group, LLC, a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of companies with $3 million to $15 million in EBITDA, today announced that it served as Administrative Agent and Sole Lender for senior secured credit facilities to support the acquisition of Kason Corporation by Advanced Material Processing (“AMP”), a newly-formed May River Capital portfolio company.
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Calumet Specialty Products Partners, L.P. Announces $100 Million Expansion of its Revolving Credit Facility
September 9, 2019Calumet Specialty Products Partners, L.P., a leading independent producer of specialty hydrocarbon and fuels products, today announced that it has successfully amended the terms of its existing asset-based loan facility (the "ABL" or "the facility") to increase the borrowing base on the facility by approximately $100 million.
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Team, Inc. Announces Extension and Amendment to Credit Agreement
September 9, 2019Team, Inc. announced the successful extension and amendment to its Credit Agreement. The Amendment (i) extends the maturity date to July 7, 2021, (ii) reduces the borrowing capacity from $300 million to $275 million, and (iii) provides an accordion feature.
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SierraConstellation Partners Promotes Philip Kaestle to Senior Director Kaestle to Relocate to Seattle Following Promotion
September 9, 2019SierraConstellation Partners (SCP), a national interim management and advisory firm to middle-market companies in transition, announced today that Philip Kaestle has been promoted to Senior Director and will relocate to Seattle as the firm establishes a presence in the Northwest U.S. market.
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Urban Grid Closes USD100M Senior Secured Term Loan Facility Provided by Crayhill Capital Management
September 9, 2019Urban Grid, a developer of solar projects throughout the United States, has closed a senior secured term loan facility for up to USD100 million with Crayhill Capital Management (Crayhill), a New York-based private credit manager and asset-based lender.
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High Road Cap Locks up Another Door Security/Hardware Wholesaler
September 9, 2019High Road Capital Partners announced that its portfolio company Banner Solutions has completed the acquisition of the assets of Specialized Builder’s Hardware, marking the company’s fifth acquisition under High Road Capital’s ownership.
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