TSL Express Daily Articles & News

SLR Healthcare ABL is pleased to announce it has provided a $2,500,000 asset-based revolving line of credit to a pediatric therapy services provider in June 2022. SLR Healthcare ABL provides asset-based financing solutions to small and mid-size healthcare providers throughout the United States.

TradeCap Partners recently closed a $450,000 purchase order finance facility for a Texas-based startup manufacturer and distributor of outdoor goods. TradeCap’s non-dilutive solution preserved 100% of the founders’ ownership and provided the flexible structure needed to complete transition of the business plan and rapidly scale.

FTI Consulting, Inc. (NYSE: FCN) today announced continued investment in its Economic Consulting segment in Australia with the appointment of Monish Paul as a Senior Managing Director. Mr. Paul, who is based in Perth, has more than 25 years of experience advising clients in business and regulatory economics, transaction advisory and business transformation. Over his career, he has held senior positions in global management consulting firms including IBM and Deloitte, with a focus on government and public policy, infrastructure, energy and financial services.

Iron Horse Credit (“IHC”), a leading inventory lender, is pleased to announce the closing of a $1,500,000 stand-alone inventory revolving line of credit to a wholesale distributor of tile and natural stones. The company has a reputable name dating back over a century and offers a one-stop point for both domestic and imported products.

Blackbuck Resources LLC (“Blackbuck”), which designs, builds, and operates water infrastructure, announced it has expanded its sustainability-linked term loan with Riverstone Credit Partners LLC, a dedicated credit investment platform focused on energy, power, decarbonization, and infrastructure managed by Riverstone Holdings LLC (“Riverstone”).

Crayhill Capital Management, a New York-based, minority-owned private credit manager focused on asset-based investments, announced today the close of a $100mm credit facility with Fort Amsterdam Capital, a New York-based, vertically-integrated real estate lender. The facility will be collateralized by both land and commercial real estate properties in the Northeast Corridor.

Beach Point Capital Management announced it provided the debt financing for the acquisition of 888 Holdings' B2C and B2B bingo businesses by Saphalata Holdings, a member of the Broadway Gaming group, for $46 million.

Stroock is expanding its Restructuring and Bankruptcy practice with a team from Luskin, Stern & Eisler, a Chambers-ranked boutique firm focused on restructuring and bankruptcy. The attorneys will be based in Stroock's New York office.

First Citizens Bank announced that its OneWest Bank division based in Southern California has completed its conversion to First Citizens’ operations and systems. This conversion integrates OneWest Bank customer accounts into First Citizens products and services.

Alvarez & Marsal and White & Case LLP advised Mill Rock Packaging on the transaction. FINNEA Group advised Impressions. BMO Sponsor Finance and PGIM Private Capital provided debt financing.

Vida Capital, Inc. (“Vida”), a portfolio company of RedBird Capital Partners and Reverence Capital Partners, today announced that David Shapiro has joined the firm as Managing Director. Mr. Shapiro will be based in New York and report to David Gussmann, Senior Managing Director.

Eagle Point Credit Management LLC (“Eagle Point”), a specialist asset manager focused on investing in CLO securities, portfolio debt securities and other credit investments, has appointed Karan Chabba as Head of ABS, MBS, SRT and Specialty Finance.

Ducommun Incorporated (NYSE: DCO) (“Ducommun” or the “Company”) today announced that effective July 14, 2022, it entered into a new credit facility consisting of a $250 million term loan and a $200 million revolving line of credit to replace its existing debt structure. In connection with the transaction, the Company extinguished its existing $140 million term loan, its existing $100 million unused revolving line of credit, and its other existing $240 million term loan, which would have matured in December 2024, December 2024, and November 2025, respectively.

Global law firm Norton Rose Fulbright has appointed Yianni Cheilas, co-head of asset finance for Europe, Middle East and Asia (EMEA), to head up its Greek offices, with effect from August 1, 2022. Yianni will replace Dimitri Sofianopoulos, who has been with the firm for nearly 30 years. Dimitri will take on a role at Costamare group, but will continue with Norton Rose Fulbright as a senior consultant of the firm.

Winston & Strawn LLP represents Sound Point Agency LLC, as administrative and collateral agent for the first lien secured lenders in the jointly administered chapter 11 cases of Path Medical LLC and Path Medical Center Holdings, Inc. pending in the Bankruptcy Court for the Southern District of Florida under Case No. 21-18338. The debtors provide acute trauma treatment and diagnostic imaging services to patients throughout the state of Florida.

Franklin Capital proudly announces that Sue Duckett has been promoted to COO. As COO, Sue will oversee Franklin’s operations and asset quality while continuing to drive growth and profitability. Sue joined Franklin Capital in 2017 as Executive Vice President and has played a central role in Franklin’s success and maximizing business performance. She has been instrumental in supporting business development. Additionally, Sue has been key to continued impeccable client service and maintaining excellent client relationships.

Second Avenue Capital Partners (SACP), a lender specializing in asset-based loans for the broader retail and consumer products industry, announced Michael P. Russell has joined the firm as a Managing Director. Based in the Boston office, Michael’s responsibilities include origination, underwriting, and account/relationship management.

Maxim Commercial Capital (“Maxim”) provided creative financing solutions for small businesses across the U.S. during the second quarter of 2022. Fundings ranged in size from $20,000 for an owner operator to purchase a new rig to $2.0 million for a residential care company to purchase an additional facility to grow its business.

SLIM Capital, located in Beverly Hills and Orange County, California, reports significant increased business volume for the first half of 2022. With a stellar first half of the year, SLIM Capital is set to break its yearly funding records. Shervin Rashti, CEO is extremely pleased with how 2022 has begun and feels confident that there will be continued growth as we prepare for the last half of the year.

North Mill Equipment Finance LLC (“NMEF”), a leading independent commercial equipment lessor headquartered in Norwalk, Connecticut, announced that the company has implemented major enhancements to its pricing scheme, simplifying its buy rate structure and connecting each price point directly to the credit parameters company analysts use to assess each transaction.