TSL Express Daily Articles & News

Third Eye Capital (“TEC” or the “Company”), Canada’s leading provider of asset-based financing solutions to underserved or overlooked companies, is pleased to announce the appointment of David Steele as President and Chief Operating Officer, effective August 15, 2023.

Private, employee-owned investment firm Neuberger Berman has held the final close of the NB Credit Opportunities Fund II with approximately $2.5bn in limited partner capital commitments, exceeding the fund's initial target of $1.5bn.

Hilco Commercial Industrial (HCI), a leading investment platform specializing in asset-based capital solutions, is proud to announce exciting organizational changes aimed at bolstering its commercial and industrial investment capabilities. Leveraging Hilco Global's extensive asset valuation expertise and operational proficiency, HCI is set to deliver exceptional value to middle-market industrial businesses across North America.

Gordon Brothers, the global advisory and investment firm, has provided Allstar Marketing Group LLC a $6 million first-in, last-out loan that will be a part of a new $50 million credit facility. The U.S.-based multichannel marketing services company will use the facility to refinance its current indebtedness and finance its ongoing working capital needs.

Leading global professional services firm Alvarez & Marsal (A&M) announced that Mark Dorn will join the firm’s Private Equity Performance Improvement (PEPI) practice as a Senior Director focused on private equity (PE) and corporate clients within the Aerospace, Defense, Aviation & Space (ADAS) group.

Womble Bond Dickinson announced today that Edward Schnitzer, David Banker, and Wojciech Jung have joined the Capital Markets practice and Bankruptcy team in New York. Schnitzer and Banker join the firm from Montgomery McCracken; Jung joins from Lowenstein Sandler.

B. Riley Securities, Inc. ("B. Riley"), a leading middle market investment bank and subsidiary of B. Riley Financial, Inc. (Nasdaq: RILY), is pleased to have served as exclusive capital markets advisor and sole placement agent to NYSE-listed special purpose acquisition company, Galata Acquisition Corp., in its $541 million business combination with Marti Technologies Inc. and $35.5 million convertible note PIPE.

Breakout Capital, a leading fintech company simplifying access to capital for small businesses, announced today the completion of a $45 million credit facility in which Synovus Bank will provide the senior credit facility and an Austin, Texas-based credit fund, will provide the subordinate credit facility. Under the terms of the agreement, Breakout may now obtain funding through Synovus by accessing $35 million of committed capacity with an additional $10 million uncommitted.

Haversine Funding announced the following recently closed transactions: $1,000,000 senior secured, lender finance line of credit to a transportation factoring company in the Southeast.

Haversine Funding announced the following recently closed transactions: a $5,000,000 of a $20,000,000 asset-based lending participation to an infrastructure services business

Haversine Funding announced the following closed transactions: $25,000,000 senior, lender finance line of credit to a factor and asset based lender. This comprehensive credit facility also includes a supplemental “gap” funding line, with advances up to 95% of eligible loans.

LSQ, a leading provider of working capital financing and payments solutions, recently originated a $30 million credit facility for a New York manufacturer, packager and distributor of pharmaceutical and consumer healthcare products.

Zions Bancorporation, N.A., through its Texas division, Amegy Bank, closed and funded a $20,000,000 credit facility for an energy-focused private equity-owned provider of oil country tubular goods and services. The credit facility consisted of a multi-year revolving line of credit.

SLR Business Credit announced today that Jan Ibey has joined the company as Senior Vice President of ABL Business Lending. Ibey is a seasoned asset-based (ABL) finance executive with over 25 years of debt capital raises for lower and mid-market companies, providing business capital solutions to high-growth companies, as well as those in turn-around.

Haversine Funding announced the following recently closed transactions: $1,750,000 junior secured, lender finance line of credit to support expected growth of a transportation factor in the Midwest.

Authentic Brands Group has scooped up Rockport, adding another heritage shoe brand to its growing portfolio. The company behind dozens of brand and retailer acquisitions announced on Wednesday that the U.S. Bankruptcy Court for the District of Delaware approved the sale transaction of Rockport, a Newton, Massachusetts-based footwear label.

A Canadian company selling portable chargers was awarded a large retail opportunity with one of the largest US retailers. With this new opportunity, they needed cash flow assistance for inventory and operations. A bank referred them to Gateway Trade Funding.

Performance Energy Services, LLC is a Colorado-based energy service construction company contractor delivering safe, client-focused support to the onshore and offshore energy markets. As a trusted partner to oil and gas companies around the world, they provide fabrication, industrial construction, instrumentation & electrical, mechanical, and specialty services.

Bastion Management ("Bastion"), a private investment firm focused on asset-based lending in the specialty finance sector, announced today that it agented a senior debt investment of $40 million with accordions up to $100 million in Okinus Inc. ("Okinus") to refinance the existing senior lender and fund future growth of their lease-to-own portfolio.

A new survey from Grant Thornton LLP, one of America’s largest audit, tax and advisory firms, revealed that chief financial officers (CFOs) are heavily focused on two areas that could lead to revenue gains: building and preserving a workforce that can help drive them toward growth; and investing in technology that has the potential to deliver efficiency and revenue gains.