TSL Express Daily Articles & News

SG Credit Partners is pleased to announce the addition of Bill Drmacich as a Managing Director in its Commercial Finance team. Bill is tasked with driving the strategic direction of the group, expanding nationwide coverage footprint and building a sponsor coverage practice. During Drmacich’s 30+ year career, he has spent significant stretches with HSBC, CIT, Ares and Mountain Ridge.

Bed Bath & Beyond, Inc. (NYSE: BBBY) (“Bed Bath & Beyond” or “BBBY”) has issued the following letter from Marcus Lemonis, Executive Chairman and Chief Executive Officer of Bed Bath & Beyond

A Crane Rental is a leading provider of full-service infrastructure with a modern fleet of rental crane equipment and heavy lifting solutions for commercial construction, industrial maintenance, oil and gas, wind and energy, and other industries. With eight strategically located branches in the Eastern United States, A Crane’s fleet includes hydraulic truck cranes, all terrain cranes, crawler cranes, rough terrain cranes, and boom trucks.

SFNet’s Advocacy Committee is planning next steps in response to the banking agencies’ proposed bank capital rule changes (Basel III Endgame) we alerted you to last month, including direct outreach to lawmakers, preparing questions to submit to lawmakers during an upcoming hearing and potentially submitting a revised comment letter to address specific concerns with the rules.

Mattr Corp. (“Mattr” or the “Company”) (TSX: MATR) announced that it has successfully closed on an amendment to its credit facility with The Toronto-Dominion Bank and National Bank of Canada as co-lead arrangers and Royal Bank of Canada, JP Morgan Chase Bank, Export Development Canada and ATB Financial as lenders to extend the US$300 million senior secured revolving facility until October 2030.

Heritage Global Valuations (“HGV”), a division of Heritage Global Inc. (NASDAQ: HGBL), a leading appraisal and liquidation firm, today announced the appointment of Elise DiBenedetto as Director of Business Development. Based in the Northeast, she will focus on expanding relationships across the restructuring, lending, and professional services sectors.

Gibraltar Business Capital (GBC) has finalized a $35MM senior secured facility for American Furniture Manufacturing (AFM) in support of the company’s acquisition by SouthWorth Capital Management (SCM). Founded in 1998 and headquartered in Ecru, MS, AFM is an assembler of upholstered furniture for sales to big box and independent furniture retailers and wholesalers.

Holland & Knight represented ArtCap Advisory Services Ltd. (ArtCap) in connection with a dual-currency senior secured term loan and Mexican peso revolving credit facility for Impulsora Sahuayo S.A. de C.V. and its subsidiaries. The deal closed on February 27.

The five-year FILO term loan, which closed on March 31, was part of the company's new upsized $175 million capital structure and provided additional liquidity to support operations and growth initiatives.

Toro Corp. (NASDAQ: TORO), (“Toro” or the “Company”), a global energy transportation services provider, today announced the signing of a $60.0 million revolving credit facility (the “Facility”) with a leading European Financial Institution.

Asset Enhancement Solutions, LLC (“AES”), a national debt advisory firm has facilitated the sale of $20 million in IEEPA Tariff Claims for Several Importers. These companies import apparel, home goods, food, holiday decorations and other types of consumer products.

Sallyport Commercial Finance is pleased to announce the successful delivery of a $2,000,000 Non-notification Factoring Facility to a Canadian printing company. Referred to Sallyport through trusted peers in the alternative finance space, this long-standing, family-run business required a flexible funding solution to repay its existing bank facility while also securing ongoing working capital to support day-to-day operations.

Morgan L. Patterson has joined FBT Gibbons as a partner in the firm’s Bankruptcy & Restructuring practice group in Wilmington, Delaware, strengthening the firm’s position in one of the nation’s most important restructuring jurisdictions.

Southstar Capital is pleased to announce the closing of a $2,000,000 accounts receivable financing facility for a private equity-backed software and consulting firm serving national retail brands across the United States.

Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack Private Bank & Trust are pleased to announce the promotion of Lisa Brandi to Senior Vice President, Treasury Management Sales.

Ares Management Corporation (NYSE: ARES) (“Ares”), a leading global alternative investment manager, announced today that it has raised approximately $5.4 billion of aggregate capital, including equity commitments and related transaction vehicles, to invest in value-add real estate opportunities across high-conviction markets in the U.S. and Europe.

KKR, a leading global investment firm, today announced the final closing of KKR North America Fund XIV (“NAX4” or the “Fund”), an approximately $23 billion fund focused on pursuing opportunistic private equity investments in North America through a disciplined and consistent investment approach. NAX4 is the largest private equity fund raised that focuses on investing solely in North America.

Cahill Gordon & Reindel LLP announced today that Shane McDonald has joined the firm as a partner in its London office. Shane will be a member of the firm’s growing European Finance Practice, which saw the recent addition of market-leading finance partners, Jeremy Duffy and Lisa Seifman.

Republic Bank & Trust Company (“Republic” or the “Bank”) is pleased to announce the appointment of Frank Vitarelli as Florida Market President. Vitarelli is a seasoned financial services leader with more than 25 years of experience driving growth, strengthening client relationships, and leading high‑performing teams throughout the Tampa Bay region.

CIBC Innovation Banking announced today that it has provided growth financing for REG Technologies, a leading provider of compliance and regulatory risk software for the insurance and financial services sector.