TSL Express Daily Articles & News

Sallyport Commercial Finance is delighted to announce the late March funding of a new business in the oil and gas services industry. The $500,000 accounts receivable finance will give them the working capital required to support their rapid projected growth.

Gordon Brothers, the global advisory and investment firm, will sell retail leases and operate going-out-of-business sales at all 39 retail store locations of Esco Ltd., operating as Shoe City, throughout Maryland, Virginia and Washington, D.C.

Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that it recently completed a new portfolio investment to facilitate the recapitalization of Infinity X1 LLC ("Infinity" or the "Company"), a leading supplier of portable lighting products. Main Street, along with its co-investor, partnered with the Company's existing owners and management team to facilitate the transaction, with Main Street funding $22.0 million in a combination of first-lien, senior secured term debt and a direct minority equity investment.

Washington Trust is pleased to announce the recent promotions of four senior managers to executive vice president:

Mr. Dunstone joins Milbank with 25 years of experience as a restructuring specialist in multiple jurisdictions across the globe. His experience includes acting as a legal adviser to the global fund and distressed investing community and serving as a partner in an investment fund.

Luis Massiani has been promoted to Senior Executive Vice President and appointed President of Webster Bank. He continues in his role as Chief Operating Officer, a role to which he was appointed in January 2022. Chris Motl, President of Commercial Banking, has also been promoted to Senior Executive Vice President. Motl will continue to lead all of Webster’s Commercial Banking verticals

BankUnited, N.A., one of the largest independent depository institutions headquartered in Florida, is expanding its Florida corporate banking division with the addition of three bankers who will help serve the bank’s growing portfolio of middle-market and large corporate companies doing business throughout the region.

Huntington Business Credit announced it closed a new credit facility with Needler Enterprises, Inc. on February 27, 2023. Proceeds of the facility were used to refinance existing debt and provide ongoing working capital growth financing.

Vesper Energy, a leading developer, owner, and operator of utility-scale renewable energy assets, today announced it has upsized its existing letter of credit (LC) facility from $140 million to $200 million. The upsizing, which follows the recent tax equity closures and debt financing of Vesper Energy's Nestlewood and Gaucho solar energy facilities, reinforces Vesper Energy's continued growth and success in the renewable energy industry.

Sound Point Capital Management, LP, a credit-oriented investment manager overseeing approximately $32 billion in total assets, is pleased to announce that it has entered into an agreement to acquire Assured Investment Management LLC and certain of its related asset management entities (“Assured-IM”), which conducts the institutional asset management business of Assured Guaranty Ltd. (together with its affiliates, “Assured Guaranty”).

Locus Fermentation Solutions (Locus FS), a green tech company that produces biological alternatives to chemicals that advance decarbonization goals, has secured $117 million in IP-insurance backed debt financing arranged by Jefferies (NYSE: JEF)—bringing its total raise to over $250 million. The financing was driven by the value of Locus Fermentation Solutions’ intellectual property (IP) and library of more than 1,300 biomanufacturing technology patent filings.

Capital One announced today that it has made a $90 million tax equity investment in the 120 megawatt (MW) Jackpot Solar project, which, upon completion, is expected to be the largest solar facility in Idaho. The sponsor, Duke Energy Renewables, is a leading U.S. developer of wind and solar energy solutions, owning and operating facilities generating 2,900 MW.

South Plains Financial, Inc. (NASDAQ:SPFI) (“South Plains” or the “Company”), the parent company of City Bank, today announced that it has sold City Bank’s wholly-owned subsidiary, Windmark Insurance Agency, Inc. (“Windmark”), to Alliant Insurance Services, Inc. (“Alliant”). The transaction closed on April 1, 2023.

Sidley is pleased to announce the addition of partner Rakhee V. Patel to its Restructuring group. She joins Texas-based partners Duston McFaul and Charles Persons in Sidley’s growing global Restructuring practice, on the heels of the recently announced addition of London-based partner Kieran Sharma.

Monroe Capital LLC announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the strategic investment and future growth of Amelia, alongside private equity sponsor BuildGroup.

Revlon, Inc. (“Revlon” or the “Company”) today announced that the United States Bankruptcy Court for the Southern District of New York has confirmed the Company’s Plan of Reorganization (the “Plan”). The Plan positions Revlon to emerge from bankruptcy in late April – consistent with the timeline announced at the beginning of the restructuring.

Griffin Global Asset Management (“Griffin”) announced today that on April 4, 2023 Palisade Aviation Holdings Warehouse, Ltd. and Palisade Aviation Holdings Warehouse, LLC (together, the “Borrowers”), have upsized its senior secured warehouse facility to $2 billion. The facility now has 12 lenders including new banking partners Citibank, N.A. and Sumitomo Mitsui Banking Corporation, and an additional commitment from Bank of Montreal.

B. Riley Financial, Inc. (NASDAQ: RILY) (“B. Riley”), a leading provider of business advisory and financial services, is pleased to share it earned top honors during The M&A Advisor 17th Annual Turnaround Awards Gala held on March 22, 2023 at The Colony Hotel in Palm Beach, Florida.

Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, announced today that it has hired technology investment banking veteran Alec Ellison as Global Head of FinTech, a newly dedicated industry group that builds on the firm’s leading technology and financial services expertise and underscores its view of and commitment to financial technology as a fundamental element of the financial ecosystem.

Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending, purchase order financing, d2c and e-commerce inventory financing firm in the United States, today announced the completion of seven recent ABL transactions totaling roughly $70 million.