TSL Express Daily Articles & News

$10 million Tiger Group sale features more than 100 fleet-suitable EVs, along with e-motors, battery packs, auto parts and advanced equipment such as dynamometers and laser-cutters

LSQ, a leading provider of working capital and payments management solutions, recently announced a strategic supply chain finance partnership with Ecobat, a distinguished leader in sustainable energy solutions. This collaboration marks a pivotal moment in bolstering supplier health and generating vital working capital for Ecobat.

The Hedaya Capital Group provided a $1 million factoring facility to a footwear company that created a new category in the space with a shoe that sits at the intersection of the driving loafer and the boat shoe. Based in Dallas, the lightweight, waterproof and fashion-forward shoe brand launched on Kickstarter in 2017.

Monroe Capital LLC (“Monroe”) announced it acted as administrative agent and joint lead arranger on the funding of a senior credit facility and equity co-investment to support the acquisition of Cam Tran Co. Ltd. (“Cam Tran”), by Central Moloney, Inc. (“CMI”). CMI is an existing portfolio company of Wind Point Partners.

- West Coast Community Bancorp (OTCQX: "SCZC") ("Bancorp"), the holding company for Santa Cruz County Bank ("Bank"), headquartered in Santa Cruz, California, and 1st Capital Bancorp (OTCQX: "FISB"), the holding company for 1st Capital Bank, headquartered in Salinas, California, jointly announced today that they have entered into an agreement and plan of reorganization and merger (the "Agreement"), pursuant to which 1st Capital Bancorp will merge with and into West Coast Community Bancorp in an all-stock transaction valued at approximately $63 million.

BankUnited Inc. (NYSE: BKU) announced it has hired Ernie Diaz as senior executive vice president, consumer & commercial/small business executive to lead the bank’s consumer, small business and commercial banking teams, effective Wednesday, May 29, 2024.

Leading global professional services firm Alvarez & Marsal announced the formation of its Alvarez & Marsal Legal Services (AMLS) business, which will provide management and consulting services to law firms worldwide. AMLS gives access to world-class technology and outsourcing services to improve the effectiveness and efficiency of back-office functions including finance, human resources and legal operations, such as document management.

Specialist business lending provider Simply Asset Finance has successfully gone live with Lendscape’s Asset Finance platform, marking a critical milestone for the business as it looks to optimise business growth and further improve customer experience.

Aquila Air Capital (“Aquila”), a leading engine lessor focused on end-of-life solutions, announced the successful execution of new financing for $100 million, upsizing the lessor’s current term loan facility to $200 million. Deutsche Bank acted as Sole Structuring Agent and Underwriter for the financing.

Peloton Interactive, Inc. ("Peloton") (Nasdaq: PTON) today announced that it intends to launch a global refinancing, pursuant to which it will offer $275.0 million aggregate principal amount of convertible senior notes due 2029 (the "notes") in a private offering (the "offering") and enter into a $1.0 billion five-year term loan facility (the "new term loan facility") and a $100.0 million five-year revolving credit facility (together with the new term loan facility, the "new credit facilities").

Many business owners may not realize that their bank can be a strategic partner, offering more than just a checking or savings account for their businesses. Small businesses' banking partners are often deeply invested in their success and impact on their communities, offering services beyond financial product expertise by also providing valuable advice during uncertain times.

Uncaged Capital funded a $45.5 million non-recourse factoring transaction to a tech company which sells hardware and software to major media companies around the world.

Allegion plc (NYSE: ALLE), a leading global security products and solutions provider, has successfully completed the extension and increase of its existing senior unsecured revolving credit facility.

Churchill Asset Management LLC (“Churchill”), an investment-specialist affiliate of Nuveen focused on middle market private debt and private equity solutions, and Dawson Partners (“Dawson”), a global alternative asset manager focused on providing innovative structured solutions to the private markets, today announced the closing of a $425 million transaction.

CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that Daniel Rinke, JD, LLM, has joined the firm as a principal in its International Tax practice. Based in Massachusetts, Rinke has more than two decades of international tax experience, notably involving cross-border transactional and operational planning for multinational corporations.

Solifi, a global fintech software partner for secured finance, received an accolade in the Best New Services Solutions: Data and Asset Management category in the 2024 Sustainable Finance Awards. The awards, which took place on 16 May in Paris, celebrate the success of leading finance businesses in achieving sustainable outcomes through innovation, breadth of coverage and rigorous use of data across Europe.

Katten announced today that Jennifer I. Wolfe will become its office managing partner in Chicago, where the firm was founded 50 years ago and where Wolfe has spent her entire legal career in its Private Credit practice representing middle-market lenders to borrowers in high-value transactions across numerous industries.

MidCap Business Credit LLC announced today that it has completed a $5 million asset-based credit facility to a manufacturer and distributor of cryogenic storage and transportation equipment located in the Southeast.

Mountain Ridge was able to provide greater availability and flexibility than the previous bank arrangement, which was meaningful for both the acquisition and supports working capital liquidity for growth going forward.

First Citizens Bank today announced that its Commercial Real Estate business provided $24.5 million in construction financing for 121 Commerce Center, a large new industrial property in Grapevine, Texas.