TSL Express Daily Articles & News

Espresso Capital announced today that it has provided Innovapptive, a digital transformation pioneer, with a $15 million credit facility. Innovapptive, whose platform connects frontline maintenance workers and warehouse operations with back-office systems through easy-to-use mobile apps, will use the funds to drive additional growth.

National Funding, one of the largest U.S. specialty finance companies serving small- and medium-sized businesses, closed its second asset-backed securitization (ABS) for $125 million. Guggenheim Securities served as sole structuring advisor and the sole initial purchaser of the notes.

IR2 Holdings, LLC (“IR2”) is pleased to announce its formal launch of a specialized joint venture between Alan Kestenbaum, Gaurav Mehta and funds and accounts managed by Oaktree Capital Management, L.P. (“Oaktree”), leveraging a unique collection of expertise, resources, and track record for investments across the metals, mining and natural resources sectors.

Benefit Street Partners L.L.C (“BSP”) and its parent company Franklin Templeton today announced the launch of Franklin BSP Private Credit Fund (FBSPX). The fund takes a multi-strategy approach to investing in US middle market private credit, seeking to generate strong current income and superior risk-adjusted returns across market cycles.

Pathward™, N.A., an industry leading financial empowerment company, today announced the unveiling of its new corporate brand and the launch of the company’s new website, Pathward.com. This follows the company’s name change from MetaBank®, N.A. earlier this year. The new name and branding reflect the company’s commitment to providing a path forward for individuals and businesses to reach the next stage of their financial journey.

PKF Clear Thinking, LLC, the award-winning business advisory firm and subsidiary of PKF O’Connor Davies, LLP, one of the nation’s largest accounting, tax and advisory firms, today announced that it has hired Neil Canty as Managing Director. Canty comes to the Firm with more than three decades of senior-level experience spearheading the financial operations of numerous million- and billion-dollar businesses.

Entrepreneur Growth Capital (“EGC”), headquartered in New York City, announced the hiring of Ryan Ray as Vice President of Business Development to enhance EGC’s lending footprint throughout the Midwest. Based in Chicago, Ryan will be responsible for sourcing new asset-based loan opportunities from $1 million to $15 million.

HLS Therapeutics Inc. ("HLS" or the "Company") (TSX: HLS), a pharmaceutical company focusing on central nervous system and cardiovascular markets, announces updates to its credit agreement and senior secured term loan with its existing syndicate of bank lenders co-led by JPMorgan Chase Bank, N.A. and Silicon Valley Bank. All dollar amounts are stated in U.S. currency.

Gen II Fund Services, LLC (“Gen II”), a leading independent private capital fund administrator, today announced the appointment of Nikolaos Perros as Chief Operating Officer and Ishita Shah as Chief Commercial Officer.

Brightwood Capital Advisors ("Brightwood"), a leading private credit and impact firm, announced the appointment of Kristan O’Connor as Managing Director in the firm’s Portfolio Management & Risk group. Ms. O’Connor brings over 30 years of experience across credit administration, portfolio management, underwriting, and loan workouts to the team.

Washington Federal, Inc. (Nasdaq: WAFD) (the “Company”), parent company of Washington Federal Bank, “WaFd Bank” today announced the promotion of veteran commercial banker Dan LaCoste to lead the bank’s growing presence in Southern Oregon. An accomplished banker in Oregon, Dan joined WaFd Bank three years ago as Senior Vice President – Commercial Division Manager. In that short tenure his team has successfully grown the commercial loan portfolio by nearly a quarter of a billion dollars and deposit growth of more than $160 million dollars.

Access Capital, Inc., the nation’s leading independent lender to the staffing and other industries, announced that it is continuing to expand its team as Sandra Herrera has joined as a Senior Collateral Analyst. She will be based in Chicago, IL Sandra brings over 25 years of experience to the position with both banking and non-banking lenders.

The 61st ELFA Annual Convention is still scheduled for Oct. 9-11. However, the event will be held in a new location: the JW Marriott Grande Lakes Resort in Orlando, Florida. The JW Marriott Grande Lakes in Orlando, which is 4.5 hours north of Marco Island, is fully operational and ready to welcome attendees.

Medexus Pharmaceuticals (Medexus) (TSX: MDP) (OTCQX: MEDXF) today entered into an amendment to the company’s revolving credit facility with a syndicate of lenders agented by MidCap Funding IV Trust (MidCap). Among other things, the amendment provides for a US$5.0 million increase in MidCap’s revolving loan commitment amount on substantially the same terms provided under the existing facility. Following the amendment, Medexus will have total borrowing capacity under the revolving credit facility of US$25.0 million subject to the borrowing base.

Heritage Cannabis Holdings Corp. (CSE: CANN) (OTCQX: HERTF) (“Heritage” or the “Company”), today announced that it has entered into a second loan amending agreement (the “Second Amending Agreement”) to an original loan agreement dated March 29, 2021, as amended October 4, 2021 with BJK Holdings Ltd. (“BJK”) in the total amount of $19.775 million across four facilities (collectively the “Loan”). ​

Leading global professional services firm Alvarez & Marsal (A&M) announced that Andreas Lucido has been appointed as Managing Director with A&M’s Public Sector Services (PSS) in Washington, D.C. and National Federal Practice Leader. Mr. Lucido’s joining demonstrates A&M’s commitment to the Federal government with helping civilian and defense agencies enhance and transform their operations through strategic management solutions focusing on execution, accountability and results.

WSFS Bank is pleased to announce that the following six Associates from across the organization have been elevated to Senior Vice President (SVP) positions: Ed Andrewlevich – SVP, Director of Analytics & Marketing Automation; Hugh Arbuthnot – SVP, Sr. Relationship Manager, C&I; Cindy Grimes – SVP, Applications & Data Services Manager; Rene Lopez – SVP, Audit Manager; Charles Nangeroni – SVP, Division Controller and William Womer – SVP, Sr. Relationship Manager, CRE.

Four-in-five (82 per cent) of small business owners want governments to do more to address inflation, according to a recent survey from Equifax Canada. Within a nationwide panel of 300 small business owners, 87 per cent said they have been forced to increase prices as a result of rising business costs and 78 per cent admit that this move is hurting their business.

Abacus Finance Group, LLC – a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of companies with $3 million to $15 million in EBITDA – today announced that it served as Senior Secured Credit Facilities Administrative Agent and Sole Lender for senior secured credit facilities to support the financing of Automated Handling Solutions by May River Capital. Abacus made an equity co-investment in Automated Handling Solutions.

CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that Shlomo Lang has joined the firm as Managing Director in its Valuation Advisory Services practice. Based in New York, Lang has more than 22 years of experience providing a broad range of valuation and financial advisory services to public and private enterprises worldwide.