TSL Express Daily Articles & News

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and $6 billion in assets, today announced that its Asset-Based Lending team provided a $4 million revolving line of credit to Artist & Craftsman Supply (A&C), a national provider of arts and crafts supplies headquartered in Portland, Maine.

eCapital Corp. (“eCapital”), a leading finance provider for businesses across North America and the U.K., today announced the recent closure of a $20 million working capital line of credit to a prominent consumer packaged goods (CPG) company in the natural odor elimination category.

In the latest Fortune/Deloitte CEO Survey, CEOs share more modest growth expectations over the next 12 months, fine-tuning strategies around talent, workplace, and technology models to adapt to new conditions.

B. Riley Securities, Inc., a leading full service investment bank and subsidiary of B. Riley Financial, Inc. (NASDAQ: RILY) ("B. Riley"), today announced it has added a team of nine experienced Healthcare and Life Sciences professionals from Huron Transaction Advisory LLC ("Huron"). Veteran investment bankers, James Metcalf and Benjamin Matz, have joined B. Riley Securities along with a team of investment banking professionals with significant expertise that further fortifies the firm's Healthcare and Life Sciences practice.

Solifi™, a global fintech software partner for secured finance, announced The Secured Lender named Solifi to its inaugural 2022 Great Places to Work list. This recognition is testament to Solifi’s commitment in attracting and retaining talent through a range of initiatives, including an entrepreneurial company culture, competitive compensation, diversity, equity, and inclusion (DEI), work-life balance, and attractive perks.

Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) (“Verano” or the “Company”), a leading multi-state cannabis company, today announced it has entered into a credit agreement to refinance its existing $350 million credit facility, extending the maturity date to October 30, 2026. The refinanced indebtedness bears interest at a floating rate based on the prime rate, with a current rate of 12.75% per annum.

Expert in global pay solutions, CloudPay, has raised a new $50 million round of capital while recording strong growth as demand for cloud-based integrated global payroll and payments services continues. The funds raised were led by Runway Growth Capital and The Olayan Group.

Republic Bancorp, Inc. (NASDAQ: RBCAA) (“Republic” or the “Company”), the parent company of Republic Bank & Trust Company (“Republic Bank” or the “Bank”), and Cincinnati-based CBank (www.cbankusa.com) today announced the signing of an Agreement and Plan of Merger (the “Agreement”) under which Republic will acquire CBank and its wholly-owned subsidiary, Commercial Industrial Finance, Inc. (“CIF”). CIF, which is headquartered in St. Louis, Missouri, provides equipment leasing and financing to businesses nationwide.

Pathward Financial, Inc.™ ("Pathward Financial" the “Company”) (Nasdaq: CASH) today announced that Sonja Theisen, 41, currently Executive Vice President, Governance, Risk and Compliance, will succeed Glen W. Herrick, 60, as Chief Financial Officer, effective April 30, 2023.

J D Factors announced it has provided the following factoring facilities: $120,000 to a transportation company in New Jersey; $100,000 to a transportation company in Kentucky; $100,000 to a transportation company in Ontario; $1,000,000 to a transportation company in Illinois.

BHI, a full-service commercial bank, announced that it has closed on a $42.5 million term loan for TL Management, a company that owns skilled nursing facilities across the country.

-- Comvest Credit Partners (“Comvest”), a leading provider of flexible direct financing solutions to middle-market companies, is pleased to announce that it has acted as Administrative Agent on a $400 million senior secured credit facility (the “Financing”) to Beyond Finance (the “Company”), a Houston-based provider of success fee-based debt resolution services that has been part of Comvest’s Direct Lending portfolio since 2019.

Gordon Brothers, the global advisory, restructuring and investment firm, has completed the purchase of a substantial portion of Armstrong Flooring Inc.’s assets. Gordon Brothers purchased a majority of the flooring products manufacturer’s existing inventory and partnered with Vion Investments to purchase the accounts receivable to effect the wind down of the business and operations that did not move forward.

TD Bank, America's Most Convenient Bank®, announced it has appointed Gregory Carlisle as its Commercial Market President for South Jersey/Coastal New Jersey. He succeeds Robert Curley III, following his move to Regional President of the Pennsylvania and New Jersey Metro.

Modiv Inc. (“Modiv” or the “Company”) (NYSE:MDV), an internally managed real estate investment trust (“REIT”) that acquires, owns, and manages a diversified portfolio of single-tenant net-lease real estate properties, announced that it successfully exercised the accordion feature of its Credit Facility on October 21, 2022. The Credit Facility was increased to $400 million and is now comprised of a $150 million revolving credit facility (the “Revolver”) and a $250 million term loan (the “Term Loan”) (together, the “Credit Facility”).

RumbleOn, Inc. (NASDAQ: RMBL), the nation’s first technology-based omnichannel powersports platform, today announced that it has entered into a $75 million used powersports inventory financing credit facility with J.P. Morgan. The inventory financing facility supports RumbleOn’s strategy of providing customers a robust choice of powersports vehicles, and an unmatched buying experience both online and in retail locations.

Montage Capital is excited to announce the appointment of Samantha Kim as Principal. She joins Founder and Managing Director Mike Rose, Managing Director Eric Gonzales, and Principal Chet Kasper as the fourth member of the Montage investment team.

RBC Capital Markets is acting as exclusive financial advisor, and Stradley Ronon Stevens & Young, LLP is serving as legal advisor to Pacific Life. Ballard Spahr LLP, TJC Law Group LLP and Ropes & Gray LLP are legal counsel to Aristotle for the transaction.

RBC Capital Markets is acting as exclusive financial advisor, and Stradley Ronon Stevens & Young, LLP is serving as legal advisor to Pacific Life. Ballard Spahr LLP, TJC Law Group LLP and Ropes & Gray LLP are legal counsel to Aristotle for the transaction.

Hilco Streambank presents the opportunity to acquire the intangible assets of Packable Holdings, LLC (“Packable” or “Pharmapacks”) including its software platform utilized to sell products on Amazon, Walmart and other third-party marketplaces. Packable is a leading, technology-driven eCommerce marketplace enablement platform providing consumer brands, distributors and digitally native brands with the connections, insights and services needed to enable and accelerate sales growth across multiple online marketplaces simultaneously.