TSL Express Daily Articles & News

Gordon Brothers, the global advisory and investment firm, in a joint venture with Nations Capital Inc., an asset management and advisory firm, has completed the purchase of substantially all the assets of H2 Brands Group, a leading national consumer products company with annual sales in excess of $250 million and a portfolio of nationally recognized brands, including Comfort Zone®, Shur-Line®, Helping Hand® and Bulldog® Hardware.

Commercial Funding Inc., a national provider of accounts receivable financing, including invoice factoring, and asset based lending, has closed a $1 million factoring facility for an engineering and project management company that services the oil and gas industry.

Abacus Finance Group, LLC – a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of lower middle-market companies – today announced that it served as Senior Secured Credit Facilities Administrative Agent and Lead Arranger for senior secured credit facilities to support the acquisition of Workplace Modular Systems LLC by Accelevation LLC, an LFM Capital portfolio company.

Moritt Hock & Hamroff announced today the opening of a new office in the Fort Lauderdale, Florida metro area serving the Southeast Florida market. The office will be supported by four attorneys from the Florida-based law firm of Ritter & Chusid including one of its founders, Gregory J. Ritter who will be a partner. Joining with Greg are Gary Rosner as partner, Evan Rosenberg as counsel, and Olivia Retenauer as an associate

-Comvest Credit Partners (“Comvest”), a leading provider of flexible direct financing solutions to middle-market companies, is pleased to announce that it is acting as Administrative Agent and Sole Lender on a $153 million senior secured credit facility (the “Financing”) for Oak Dental Partners (“Oak Dental”, or the “Company”), an Atlanta-based dental service organization (DSO).

When Revlon filed for Chapter 11 bankruptcy protection in the US last June, the news sent shock waves through the global beauty industry. The 91-year old multinational was struggling with over US$3 billion in debt and major supply chain issues.

PlainsCapital Bank recently announced the promotions of three seasoned bankers in the Lubbock market. Commercial Lending Manager Seth Schulz and Consumer and Agriculture Lending Manager Matthew Wade have been promoted to executive vice president, while Senior Vice President Mark Rosenberg has been promoted to real estate lending manager.

Access Capital, Inc., the nation’s leading independent lender to the staffing industry, recently added Jacob Hamilton to the team. Jacob will serve as Business Development Officer covering territory in the Midwest. Before joining Access Capital, Jacob began his career providing working capital solutions to staffing firms of all sizes and forging connections with staffing industry experts and advisors at Advance Partners.

Assembled Brands, the leader in financing today’s top consumer brands in the U.S., is pleased to announce the appointment of Dave Warga as its new director of Underwriting. Dave brings extensive experience and expertise to the company and will play a crucial role in driving the business forward.

The client was introduced to Sallyport directly by a broker pre-pandemic and we’ve nurtured a relationship with them since then. Experiencing the age-old challenge for staffing businesses; payroll to be made weekly but debtors only paying in 30 - 60 days, the funding will allow the business to pay wages without causing a cash crunch.

DeCurtis Corporation (“DeCurtis” or the Company”), the leading provider of location and proximity enabled solutions in complex environments, has entered into an agreement with Invictus Global Management, its largest prepetition secured lender, on a sale transaction that will strengthen its financial position, obtain debtor-in-possession financing, address outstanding intellectual property-related claims, and best align the Company for future growth.

The global law firm Jones Day announced today that Ted Powers has joined the Firm as a partner in its Corporate Practice. He will be based in Jones Day’s New York Office. Mr. Powers has more than 20 years of experience practicing corporate law, including private and public mergers and acquisitions, asset and stock transactions, minority investments and general corporate and securities matters.

Stellus Capital Management, LLC (“Stellus”) announced today that its affiliates partnered with City National Bank to provide senior debt financing in support of Intuitive Health (“Intuitive” or the “Company”), a portfolio company of Altamont Capital Partners (“Altamont”), on its acquisition of Premier ER & Urgent Care (“Premier”), a Texas-based hybrid emergency room (ER) and urgent care (UC) clinic with four locations in San Marcos, Temple, Waco, and Woodway, Texas.

Talen Energy Corporation ("TEC") announced today that Talen Energy Supply, LLC ("TES" or the "Company"), a direct wholly owned subsidiary of TEC, has priced an offering of $1.2 billion in the aggregate principal amount of its 8.625% senior secured notes due 2030 (the "Notes"), pursuant to the Joint Chapter 11 Plan of Reorganization of Talen Energy Supply, LLC and its Affiliated Debtors (the "Plan").

Mountain Ridge Capital ("Mountain Ridge") today announced the closing of a senior secured credit facility for a southeast commercial bakery operation. The new credit facility, consisting of a $3 million revolving line of credit and a $3 million term loan, refinanced a national commercial bank.

Peoples Bancorp Inc. ("Peoples") (Nasdaq: PEBO), parent company of Peoples Bank, announced today that it has completed its acquisition of Limestone Bancorp, Inc. ("Limestone") (NASDAQ: LMST) and Limestone's wholly-owned subsidiary, Limestone Bank, Inc. ("Limestone Bank"). The acquisition became effective as of the close of business on April 30, 2023.

Ares Management Corporation announced today that funds managed by its Credit Group (collectively “Ares”) closed approximately $2.1 billion in U.S. direct lending commitments across 35 transactions during the first quarter of 2023 and approximately $23.5 billion in U.S. direct lending commitments across 189 transactions in the last twelve-month period ended March 31, 2023.

U.S. Bank is introducing a new Business Diversity Lending Program that will expand the ability of diverse business owners to obtain capital, building upon the bank’s broader efforts to support under-represented businesses and help address the wealth gap.

Today, Federal Deposit Insurance Corporation (FDIC) Chief Risk Officer Marshall Gentry released FDIC’s Supervision of Signature Bank, an internal review evaluating the agency’s supervision of Signature Bank, New York, New York, from 2017 until its failure in March 2023. The internal review report identifies the causes of Signature Bank’s failure and assesses the FDIC’s supervision of the bank. The review was conducted at the request of FDIC Chairman Martin J. Gruenberg.

Encina Lender Finance, LLC (ELF) announced today continued expansion of its senior leadership team with the addition of industry veterans Jeff Carbery as managing director, Ryan Connorton as managing director, and Latonya Whitfield Stroup as director.