TSL Express Daily Articles & News

Gridiron Capital, LLC (“Gridiron Capital”), an investment firm focused on partnering with founders, entrepreneurs, and management teams, today announced that it has completed its investment in Esquire Deposition Solutions (“Esquire” or the “Company”), a leading national provider of remote and in-person court reporting, video, and interpreting services for corporate and law firm clients.

Schulte Roth & Zabel LLP advised Lovell Minnick Partners (LMP) and National Auto Care (NAC) in connection with the sale of NAC to APCO Holdings, LLC (APCO), a portfolio company of Ontario Teachers' Pension Plan. LMP is a private equity firm focused on investments in financial services, financial technology, and related business services.

Leading global professional services firm Alvarez & Marsal (A&M) has announced the appointments of Senior Directors Timothy Byhre in Chicago and Garrett Sussman and Matthew Bohlin in New York to the Valuation Services practice (VS).

Latham & Watkins LLP1 is pleased to announce that Corey Wright and Lisa Collier have joined the firm's New York office as partners in the Banking Practice. Both partners represent banks and other financial institutions in a broad range of complex leveraged finance transactions, including high-yield bond, debt and equity offerings, asset-based lending transactions, acquisition financings, and other bank loan financings.

Host Hotels & Resorts, Inc.​HST recently announced the amendment and restatement of its existing $2.5 billion credit facility (known as the “Agreement”) to boost liquidity position and financial flexibility. This involved the extension of the maturity from January 2025 to January 2028, inclusive of all extension options. The Agreement will continue to comprise a $1.5 billion revolving credit facility and two $500 million term loans.

Brightwood Capital Advisors (“Brightwood”), a middle market private credit firm, announced that it has provided debt financing to support the continued growth and expansion of Impact Fitness (“Impact” or the “Company”), a portfolio company of Morgan Stanley Capital Partners (“MSCP”).

Amerisource Business Capital announced the closing and funding of a $3,000,000 working capital facility for a Maryland-based manufacturer of hermetic packages, microelectronic housings, and assemblies. The proceeds were used to support the company’s growth and working capital needs.

In a deal that closed in 2022 for Sallyport Commercial Finance, a US project management business has been equipped with an $850,000 accounts receivable facility. Referred to Sallyport by its contact in investment banking, the company has some tremendous growth opportunities. They anticipate more than doubling their employees from 27 to 60 this year. Each employee generates revenue for the business but has to be paid before they generate any revenue for the company, and this poses an obvious cashflow challenge.

Crown Partners LP announced that HOP Energy, LLC, (“HOP”), a portfolio company of Delos Capital, has closed on a $75 million senior debt facility. Crown Partners served as exclusive financial advisor to HOP in connection with this transaction. Headquartered in White Plains, NY, HOP is a market‐leading home services provider, delivering heating distillates and performing installation and services of HVAC, heat pumps and other critical home systems.

MidCap Financial, a leading commercial finance company focused on middle market transactions, today announced it has provided a $150mm senior revolving credit facility to Trusted MidCo, LLC (“Trusted,” “Trusted Health,” or “Company”). The MidCap Financial credit facility includes an uncommitted option to increase the total facility size to up to $239mm. Proceeds from the MidCap Financial credit facility were used to refinance the Company’s prior credit facility and to provide for the business’ ongoing working capital needs.

eCapital Corp. (“eCapital”), a leading finance provider for businesses across North America and the U.K., today announced that CEO Marius Silvasan was named a Best in Biz Awards bronze winner in the Executive of the Year – Medium Companies category. The Best in Biz Awards are the only independent business awards program judged each year by prominent editors and reporters from top-tier publications in North America.

“Small businesses are the lifeblood of the U.S. economy: they create most net new jobs and drive U.S. innovation and competitiveness. As we close 2022 and start 2023, I’m incredibly pleased about our new business momentum by helping so many small businesses located throughout the country with an alternative source of financing when it’s most needed,” said Nicholas Pittas, National Sales Manager of United Capital Funding.

Alvarium Tiedemann Holdings, Inc. (NASDAQ: ALTI) (“Alvarium Tiedemann” or “AlTi” or the “Company”) announced today that it has entered into a $250 million credit facility with a syndicate led by BMO Capital Markets Corp. (“BMO”). The facility, which is comprised of a $150 million revolving credit facility and a $100 million term loan facility, will be used to pay down subsidiary debt and fund growth initiatives.

-SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, today announced the signing of a new $100 million three-year senior secured revolving credit facility that expands the company’s available borrowing capacity. The new credit facility contains an accordion feature that allows the company to increase the size of the facility by up to $30 million, subject to certain conditions, for a total potential borrowing capacity of up to $130 million. The facility was jointly arranged by Siena Lending Group LLC (“Siena”) and Great Rock Capital (“Great Rock”), leading asset-based lending companies

“Congratulations to our newest Senior Managing Directors,” said Steven H. Gunby, President and Chief Executive Officer of FTI Consulting. “These promotions reflect the outstanding contributions each individual has made to our clients and our firm as well as our ongoing commitment to recognize and invest in our next generation of leaders.”

Terry Novetsky has joined Kramer Levin’s Securitization and Structured Finance practice as a partner. Mr. Novetsky represents financial institutions, private equity funds and specialty lenders in asset securitization, secured lending and global trade finance transactions. He comes to Kramer Levin from King & Spalding, where he was a partner, and will be based in the firm’s New York office.

Olympic Steel also announced that it has increased the size of its asset-based revolving credit facility from $475 million to $625 million. Following the $131 million acquisition of Metal-Fab, Olympic Steel’s total debt under the revolving credit facility is approximately $297 million, with availability of approximately $280 million, leaving significant capital to continue its diversification strategy through investments in additional acquisitions, new capacity and increased efficiency through automation to deliver shareholder value.

Runway Growth Capital LLC ("Runway"), a leading provider of growth loans to both venture and non-venture-backed companies seeking an alternative to raising equity, today announced the closing of a senior secured term loan of $25 million to Vesta, a leading global transaction guarantee platform for online purchases. The non-dilutive financing will provide Vesta with additional working capital to support growth.

Amerisource Business Capital announced the closing and funding of a $1,000,000 interim bridge loan facility for a Texas-based powerline construction services and maintenance firm. The proceeds were used to provide working capital to support the company’s rapid growth.

Egide Group (Euronext Growth Paris™- ISIN: FR0000072373 - Mnemo: ALGID) and Amerisource Business Capital, a direct lender and capital provider to growing businesses throughout the United States and one of the largest independent finance American companies, today announced the signing of a $3M financing agreement.