TSL Express Daily Articles & News

John Hancock Investment Management, a company of Manulife Investment Management, and Marathon Asset Management announced today the launch of John Hancock Asset-Based Lending Fund (the fund). The fund is subadvised by Marathon Asset Management (Marathon), a leading global credit investor with nearly 25 years of experience successfully investing across multiple sectors, including structured credit and asset-based lending (ABL), where it has deployed more than $20 billion over its history with approximately $23 billion in assets under management as of December 31, 2021.

Wells Fargo announced today that Kleber Santos has been appointed the company’s CEO of Consumer Lending, effective immediately. Santos will lead all aspects of Wells Fargo’s Consumer Lending business, including Home Lending, Auto, Credit Cards and Merchant Services, and Personal Lending.

Greenspoon Marder is pleased to announce the expansion of the firm's Bankruptcy & Reorganization practice group with the addition of a dedicated team of bankruptcy professionals that comprises nine attorneys and eight staff members from SulmeyerKupetz – one of the premier business, financial restructuring and litigation firms in California.

HPD Lendscape, a leading secured finance technology provider, has evolved its brand to reflect the company’s market position and progressive approach to the financial sector. As part of this initiative, the business has changed its name from HPD Lendscape to Lendscape – matching the name of its market-leading software platform.

Pryor Cashman is pleased to announce that Robert M. Friedman and Richard C. Leska have joined the firm as Partners in the Corporate Group. Friedman was formerly a partner at Moses & Singer; Leska was formerly a partner at Meister Seelig & Fein.

Haversine Funding announced the following recently closed transactions: $3,000,000 of a $6,000,000 participation in an asset-based line to a technology-enabled healthcare management company and a $2,000,000 of a $4,000,000 participation in a commercial real estate transaction.

Providing companies and their advisors with fast access to reliable working capital solutions has always been at the center of Gibraltar Business Capital’s (“GBC”) mission. GBC is taking that commitment a step further by extending its financing levels to serve companies with greater capital needs. GBC is pleased to announce Gibraltar Business Capital is now able to offer asset-based loans up to $100 million.

Lazard Ltd (NYSE: LAZ) announced today that Ajay Dhankhar has joined the firm as a Managing Director in the Healthcare Group within Financial Advisory, effective immediately. Based in New York, Mr. Dhankhar will serve as Global Head of Medical Technology, Diagnostics and Tools. He will also advise clients in other healthcare segments, including biopharmaceuticals, and healthcare information and technology.

CIT, a division of First Citizens Bank, today announced it has hired Geoffrey Samuels as a business development officer in its Asset-Based Lending business. Samuels will be based in Charleston, South Carolina, with a focus on asset-based lending business development across the Southeast region.

NewAge, Inc. (Nasdaq: NBEV) (the “Company” or “NewAge”), today announced that Kevin Manion, Chief Financial Officer, departed the Company as of July 1, 2022. Lawrence Perkins, who along with his firm SierraConstellation Partners LLC have been engaged to provide Chief Restructuring Officer (CRO) and other services to the Company, will assume the role of the Company’s principal financial officer on an interim basis.

WSFS Financial Corporation (NASDAQ: WSFS) today announced it sold the business of BMT Insurance Advisors (BMTIA), an independent insurance brokerage and risk management consulting firm throughout the United States that builds custom insurance solutions for consumers and businesses, to Patriot Growth Insurance Services, LLC (Patriot). The deal includes an offer of continuing employment for all BMTIA Associates and is not expected to materially impact future earnings.

H.I.G. Capital, LLC ("H.I.G."), a leading global alternative investment firm with $50 billion of capital under management, is pleased to announce that Alejandra Arguello has joined the firm’s Capital Formation Group as a Managing Director, based in New York City.

Blank Rome LLP is pleased to announce that Rebekah Prince has joined the firm’s Corporate, M&A, and Securities practice group as a partner in the Los Angeles office. Rebekah’s diverse corporate practice includes representing public and private companies as well as clients in the sports, media and entertainment, and franchising industries. She joins the firm from Barnes & Thornburg LLP.

FP Newspapers Inc. ("FPI" or the "Company") (TSXV:FP) is pleased to announce that FP Canadian Newspapers Limited Partnership ("FPLP") has entered into an amended and restated facility letter (the "Restated Facility Letter") whereby its existing facility letter dated January 21, 2020 with HSBC Bank Canada (the "Original Facility Letter") was amended. In connection with the Restated Facility Letter, HSBC Bank Canada has provided the Company with a credit facility of up to $15,585,000 (the "Credit Facility").

With traditional work routines reexamined and overhauled due to the COVID-19 global pandemic, employers around the world need help from temporary staffing agencies to fill gaps in their workforce and delivery systems. Republic Business Credit was there to support a multinational staffing and consulting company meet the demand in the U.S.

Tradecycle Capital, an Indianapolis-based trade finance provider, announced it funded a new $2,000,000 revolving accounts payable funding facility for a family office owned processor of specialty metal alloy products.

Banc of California, Inc. (NYSE: BANC) today announced that its wholly owned subsidiary, Banc of California, N.A., California’s leading relationship-focused business bank, has hired Jagdeep Singh Sahota as Chief Payments Officer.

MidCap Business Credit LLC announced today that it has completed a $17 million asset-based credit facility to Virginia Explosives & Drilling Company. The Business was established in 1998 and is headquartered in Vansant, VA. The opportunity was sourced out of MidCap’s regional office in Baltimore, MD.

Pembrook Capital Management LLC ("Pembrook"), one of the nation's leading bridge lenders for market rate, workforce and affordable multifamily rental housing, has appointed John K. Malysa as a managing director of the firm. Mr. Malysa, a veteran commercial real estate credit risk professional with over 25 years of multi-faceted industry experience, will focus on and underwriting, oversee asset management, and serve as a member of Pembrook's Investment Committee.

EPSG, a leading integrator of merchant payment technology solutions, announced today that it has significantly expanded its existing revolving line of credit (“Credit Facility”) with People’s United, a division of M&T Bank Corporation (“M&T”) (NASDAQ: MTB).