TSL Express Daily Articles & News

Propel Holdings Inc. (“Propel”) (TSX: PRL), an innovative fintech company dedicated to credit inclusion, announced a new $250 million syndicated credit facility for the company’s CreditFresh line of business (“the credit facility”). The new credit facility replaces and upsizes the previous CreditFresh facility by $90 million.

H.I.G. Capital, LLC ("H.I.G."), a leading global alternative investment firm with $55 billion of capital under management, is pleased to announce that Colin Hannaway has joined the firm’s Capital Formation Group as a Managing Director, based in New York City.

Stonebriar Commercial Finance (“Stonebriar”) today announced the closing of a $22 million sale and leaseback on a new manufacturing plant and associated equipment that has the capacity to produce 100-million pounds of protective coating for automotive OEM and aftermarket space. This transaction provided the Lessee the ability to consolidate its supply chain, driving significant savings every year, while also building out the production capacity that establishes them as the market leader.

SSG Advisors, LLC (“SSG”) acted as the investment banker to Amoroso’s Baking Company and Quattro Foods Group, LLC (collectively “Amoroso’s” or the “Company”) in the Company’s recapitalization. The funding was used to refinance existing indebtedness and provide additional liquidity for growth. The transaction closed in January 2023.

Crescent Capital Group LP (“Crescent”), a leading alternative credit investment firm, announced today the successful final close of its eighth private credit solutions fund, Crescent Credit Solutions VIII (“CCS Fund VIII”), raising $8 billion in investable capital, including targeted leverage and separately managed accounts investing alongside the fund.

nFusion Capital was selected as a winner of the M&A Advisor’s Restructuring Deal of the Year ($50 million to $100 million) for our role in the restructuring of an oil and gas equipment manufacturer. The award will be presented during the 2023 Distressed Investing Summit and 17th Annual Turnaround Awards Gala in Palm Beach, Florida in March.

LINKBANCORP, Inc. ("LINK") (NASDAQ: LNKB), parent company of LINKBANK, and Partners Bancorp ("Partners") (NASDAQ: PTRS), a financial services company with two wholly-owned operating subsidiaries, The Bank of Delmarva and Virginia Partners Bank, announced today that they have entered into a definitive agreement under which the companies will combine in an all-stock combination, valued at approximately $167.8 million, based on LINK's 10 day volume-weighted average price of $8.08 as of February 21, 2023.

Spouting Rock Asset Management, LLC, (Spouting Rock), a multi-boutique manager platform providing investment solutions and services, today announced an ownership stake in Altan Asset Management LLC (Altan), an investment management firm that aims to drive outsized returns by diligently seeking overlooked opportunities in the global equity markets.

Sotera Health Company (“Sotera Health” or the “Company”) (Nasdaq: SHC), a leading global provider of mission-critical end-to-end sterilization solutions and lab testing and advisory services for the healthcare industry, today announced that it has successfully closed on a new senior secured Term Loan B facility in an aggregate principal amount of $500 million.

Gridium, Inc., a decarbonization partner to leading real estate firms, announced total funding of over $14M from investors who see the potential to decarbonize commercial buildings. Gridium also entered into a revolving debt financing facility sized at $10M with Mitsubishi HC Capital America, Inc

Austin Financial Services, Inc. (AFS) is pleased to announce closing of a $2.5MM AR & inventory facility to a manufacturer and distributor of health & beauty aids. Proceeds from AFS’ revolver were used to refinance the Company’s existing bank facility and provide ongoing working capital support.

First-Citizens Bank & Trust Company (First Citizens Bank) today announced that its vendor equipment financing business will now be known as First Citizens Bank Equipment Finance to better communicate its core mission to vendors, customers and prospects.

Unlock Technologies Inc. (Unlock), a leading home equity investment technology company, and Saluda Grade, a private alternative real estate investment firm, today announced that they have secured a $300 million revolving credit facility from Barclays Bank PLC (Barclays). The revolving credit facility will provide Unlock with access to significant capital to serve its growing customer base.

Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm, today announced it has successfully amended its $140 million credit facility at more favorable terms, to improve the firm’s financial flexibility. BofA Securities Inc. was the Sole Lead Arranger and Sole Bookrunner on the transaction.

In this newly created role, Hillary is responsible for all client, marketing, and product development-related activities for Commercial and Business Banking operations, including the Japan/Asia Business Division. Hillary reports to Sander Pruijs, President of Manufacturers Bank, and is a member of the Manufacturers Bank Management Committee.

First Business Bank announces that its Accounts Receivable Financing team recently funded a $5 million Accounts Receivable Factoring facility for a company that generates sales leads for other businesses. The client uses a combination of direct calling aided by artificial intelligence to maximize output for its clients.

Several more states are attempting to pass commercial finance disclosures bills, including Georgia, Illinois, Kansas and Mississippi. The law firm of Parker Hudson Rainer & Dobbs has supplied a summary of the Georgia legislation. We will publish analyses of the other states shortly. SFNet continues to work with our legislative consultant and other channels to effect the most advantageous outcome for SFNet members.

Trinity Biotech plc (Nasdaq: TRIB) (the “Company”), a leading developer and manufacturer of diagnostic products for the point-of-care and clinical laboratory markets, today announced its entry into an increased loan facility to fund potential acquisitions and ongoing operations.

Sycamore Tree Capital Partners (“Sycamore Tree”), a specialist asset manager with private and alternative credit investment expertise, announced today the closing of STCP CLO 2023-2, Ltd. (“STCP CLO 2” or “the Fund”), the Firm’s second collateralized loan obligation fund.

B. Riley Financial, Inc. (Nasdaq: RILY) (“B. Riley”), a diversified financial services platform, today announced that it has acquired the corporate division of Farber Group (‘Farber”), a Toronto-based restructuring and business advisory firm.