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Citizens Provides $30M Asset-Based Revolving Line of Credit to Ross-Simons

Citizens announced today that it has provided a new $30 million asset-based revolving line of credit to Cranston, R.I. based Ross-Simons, a leader in direct-to-consumer sales, specializing in offering unique and proprietary fine jewelry designs alongside a deep selection of classics such as diamond tennis bracelets and gold necklaces. Citizens is the Administrative Agent, Sole Lead Arranger and Sole Bookrunner.

Ross-Simons reaches consumers through a company-operated website, catalog, and its flagship retail store in Warwick, R.I.  The company offers a wide selection of fine jewelry across a range of price points and is known for mixing materials and colors in unexpected combinations. The company was acquired earlier this month by Nonantum Capital Partners.

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  • Williams Industrial Services Group Increases Revolving Credit Facility to $25 Million to Fund Strategic Growth Initiatives
    January 15, 2020
    Williams Industrial Services Group Inc. (OTCQX: WLMS) (“Williams” or the “Company”), a construction and maintenance services company, announced it has successfully amended the terms of its revolving credit facility with Midcap Financial (the “Revolver”), increasing borrowing capacity by $10 million to $25 million and extending the maturity of the facility by one year to October 11, 2022.
  • Exela Technologies Announces Closing of $160 Million Financing
    January 15, 2020
    Exela Technologies, Inc., a location-agnostic global business process automation (BPA) leader across numerous industries, today announced that it has entered into a 5-year, $160 million accounts receivable securitization facility. Guggenheim Securities LLC acted as Exela’s financial advisor.
  • Hahn & Hessen Law Firm Promotes New Partner in the Firm's Business Finance Group
    January 15, 2020
    The New York based law firm of Hahn & Hessen LLP is pleased to announce that Ariele T. Strauss has become a partner in the Firm, effective January 1, 2020. Ms. Strauss was formerly a senior associate with the Firm. She concentrates her practice on secured commercial lending transactions. Her experience stretches across a wide range of domestic and cross-border transactions.
  • Curaleaf Holdings, Inc. Announces Upsizing and Closing of $300 Million Senior Secured Term Loan Facility
    January 15, 2020
    The proceeds will be used to refinance existing debt, satisfy transaction fees and expenses from previously announced acquisitions, fund capital expenditures and for general corporate purposes. The sole placement agent for the Facility is Seaport Global Securities LLC.
  • Orrick Adds Leveraged Finance Advisor in London
    January 15, 2020
    Orrick announced today that leveraged finance and direct lending rising star Anthony Kay has joined the firm as a partner in London. He joins Orrick from Latham & Watkins. Anthony joins an established finance team in London and will work alongside M&A and private equity partners James Connor and Daniel Wayte in growing the firm's private equity practice. James and Dan moved to Orrick in 2018 from Simpson Thacher and Milbank respectively.
  • Imperial Capital Hires Senior Credit Sales Professional, Drew Hall
    January 15, 2020
    Imperial Capital, LLC (“Imperial Capital”), today announced the continued expansion of its High Yield Sales Group with the hiring of Drew Hall, a senior high yield institutional sales professional who will be based in its New York Office.
  • Shoreline Equity Partners Announces Recapitalization of Mr. Greens
    January 15, 2020
    Shoreline Equity Partners, LLC, a purpose-driven lower middle market private equity firm, has partnered with management to recapitalize Florida Veg Investments, LLC. Senior financing for the transaction was provided by NXT Capital and the junior debt financing was provided by Nuveen. SunTrust Robinson Humphrey represented Mr. Greens in the transaction.
  • McLean Wilson Appointed Breakout Capital CEO and President
    January 15, 2020
    Breakout Capital, a leading nationwide small business lender focused on transparent, business-friendly loans and product innovation, announced today the promotion of McLean Wilson from Chief Credit Officer to Chief Executive Officer and President. The industry veteran steps into the role with deep experience in asset-based lending, factoring, asset management, and capital raising for alternative investments.
  • Ares Commercial Finance Provides a $17 Million Credit Facility to Cox Interior, Inc.
    January 15, 2020
    Ares Commercial Finance announced that it has provided a $17.3 million senior secured credit facility to Cox Interior, Inc. comprised of a revolving line of credit and a term loan secured by real estate, machinery and equipment. Proceeds from the financing were used to refinance the company’s debt and to provide for ongoing working capital needs.
  • Tradewind Finance Delivers Credit Facility to Packaging Manufacturer in the UAE
    January 15, 2020
    Tradewind Finance has completed a $1 million non-recourse factoring facility for a packaging manufacturer in the UAE that primarily sells to domestic big names. The company, who produces cardboard boxes and packing tape, is allocating the funding to purchase raw materials for new orders.
  • Oxford Finance Provides $87.5 Million Credit Facility to Tarrytown Expocare
    January 14, 2020
    Oxford is the sole lead arranger and administrative agent in this transaction with Sheridan Capital Partners as the lead equity investor in Tarrytown.
  • Sundance Energy Inc. Announces Increase in Borrowing Base to $210 Million
    January 14, 2020
    Sundance Energy Inc. (NASDAQ: SNDE) (“Sundance” or the “Company”) today announced that the Company’s bank group has completed its scheduled fall borrowing base redetermination under the Company’s senior secured revolving credit facility, resulting in unanimous approval for a borrowing base increase to $210 million with an elected commitment of $190 million presently available, and an increase in the facility’s maximum credit amount to $500 million. The Company also announced TD Securities as the new administrative agent under the revolving credit facility.
  • NioCorp Expands Existing Non-Revolving Credit Facility with Executive Chairman Mark Smith to $2.5 Million
    January 14, 2020
    NioCorp Developments Ltd. ("NioCorp" or the "Company") (TSX: NB;OTCQX: NIOBF) is pleased to announce that it has expanded its existing non-revolving credit facility between the Company and its Executive Chairman, Mark Smith, to US$2.5 million from the previous limit of US$2 million.
  • King Trade Capital Provides $2.4 Million Contract Finance Facility for Florida Based Government Contractor
    January 14, 2020
    King Trade Capital is pleased to announce the completion of a $2.4MM purchase-order finance facility for a Florida-based, minority-owned government contractor (the “Client”). A financial consultant, who had previously utilized KTC to finance another government contractor, contacted King Trade Capital to help its current client acquire the capital necessary to fulfill its growing contracts with FEMA.
  • InterNex Capital Announces Recently Completed Transactions
    January 14, 2020
    InterNex Capital announced recently completed transactions powered by Velocity, InterNex’s underwriting and business analytics platform.
  • Gibraltar Provides Responsive Seasonal Solution for Heating Oil Company
    January 14, 2020
    Gibraltar ended its most successful year ever on a strong note, closing a $10 million credit facility for a New York-based heating oil distributor on December 23.
  • Stonebriar Commercial Finance Names Alex Palazzolo Managing Director of Originations
    January 14, 2020
    Stonebriar Commercial Finance announced that Alex Palazzolo has joined the company as Managing Director of Originations. Based in Plano, Texas, Alex will leverage existing and develop new relationships to source fixed asset secured loan and lease opportunities.
  • Business Capital Delivers $5.5 Million Financing for Wedderspoon
    January 13, 2020
    Business Capital structured and delivered a $5.5MM working capital facility for Wedderspoon, the largest seller of Manuka honey and its portfolio of branded products in North America. Sourced almost solely from New Zealand, Manuka is a rare and supercharged version of traditional honey with medicinal and nutritional properties. Coastline Capital, Wedderspoon’s private equity sponsor, brought in Business Capital to arrange financing for its rapidly growing portfolio company.
  • AlixPartners Announces Managing Director Promotions
    January 13, 2020
    Simon Freakley, Chief Executive Officer of AlixPartners, said, "I congratulate our newly promoted Managing Directors on their new leadership roles. These exceptional individuals exemplify AlixPartners’ core values while delivering high impact results for our clients by guiding them through times of unprecedented disruption. I wish them every success in the next phase of their careers at AlixPartners."
  • LongueVue Capital Adds Experienced Healthcare Operating Partners to Support New & Existing Investments
    January 13, 2020
    LongueVue Capital Partners ("LVC"), a partnership-driven, operator-centric private equity firm based in New Orleans with approximately $500 million of assets under management, announced today that Geoff Glass and Pete Allen have joined the firm as healthcare Operating Partners. Geoff, a seasoned pharma services executive, will focus on the life science space.

 

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