TSL Express Daily Articles & News

The U.S. economy is moving from a post-reopening boom phase toward a moderating period, which, depending on the policy prescription, may end up feeling like a mid-cycle slowdown in the second half of 2022, according to Mitsubishi UFJ Financial Group’s (MUFG’s) 2022 U.S. Macro Strategy Outlook titled “The year ahead: balancing macro risks and markets.”

B. Riley Financial, Inc. (NASDAQ: RILY) ("B. Riley" or the "Company"), a diversified provider of business advisory and financial services, today announced it has agreed to acquire FocalPoint Securities, LLC, a leading independent investment bank based in Los Angeles, for total consideration of up to $175 million. Sullivan & Cromwell LLP acted as legal counsel to B. Riley Financial. Sidley Austin LLP and Sheppard, Mullin, Richter and Hampton LLP served as legal counsel to FocalPoint. Houlihan Lokey served as financial adviser to FocalPoint.

Antares Capital, a private debt credit manager with more than $45.4 billion of capital under management and administration, announced today that Monica Kelsey has joined the firm as Chief Financial Officer and Benjamin Concessi will join as Head of Strategy and Corporate Development, a new role.

CIT, a division of First Citizens Bank, today announced that its Power and Energy business served as lead arranger of $50.5 million in financing for construction of Amp’s NY3 assets, a planned portfolio of new community solar installations in New York State. CIT arranged the financing on behalf of a subsidiary of Amp Energy, a leading global developer of clean energy infrastructure. NY3 consists of six solar projects located throughout central New York State.

Mark P. Ramsey is joining Kramer Levin’s New York office as a partner in its Corporate practice. For more than two decades, Mr. Ramsey has structured and negotiated complex syndicated, club and direct lending financing transactions on behalf of both borrowers and lenders, with a focus on leveraged buyouts, in- and out-of-court restructurings, dividend recapitalizations, asset-based loans and other corporate financing transactions.

Rendering financial advisory services in the business turnaround, restructuring and bankruptcy practice areas requires both special knowledge and extensive relevant experience. In 1992, the AIRA established the Certified Insolvency and Restructuring Advisor (CIRA) program to recognize by public awareness and certification those individuals who possess a high degree of knowledge and proficiency across a spectrum of functions related to serving clients in situations involving distressed and/or insolvent entities.

oritt Hock & Hamroff LLP has announced that Michael Cardello III, a Partner of the firm, has been elected to serve as a Fellow of The New York Bar Foundation. The New York Bar Foundation is the charitable and philanthropic entity of the New York State Bar Association. The Fellows are distinguished members of the bench and bar recognized for outstanding professional achievement, dedication to the legal profession, and commitment to the Rule of Law.

Dorsey is excited to announce today that it has opened an office in Phoenix, Arizona. The new Phoenix office is the Firm’s 20th location, further enhancing its ability to provide outstanding legal services to its clients. The lawyers establishing Dorsey’s Phoenix office include Scott Jenkins, Isaac Gabriel and Andrea Palmer. All of them join Dorsey as partners.

Parker, Hudson, Rainer & Dobbs LLP is pleased to announce that Harris Winsberg and Elizabeth (Lizzie) Garner have joined the Firm as partners in its Bankruptcy & Restructuring Practice and Commercial Finance Practice, respectively. Both partners will reside in the Atlanta office.

Ares Commercial Finance (“ACF”) announced that it has provided a senior secured credit facility to Capezio, Ballet Makers, Inc. The credit facility consists of a revolving line of credit and term loan. Proceeds will be used to refinance existing indebtedness and for ongoing working capital.

BMI Merchandise is a leading provider of end-to-end redemption merchandise and inventory management solutions, servicing family entertainment centers, arcades, bowling centers, theme parks and similar entertainment-oriented customers throughout the U.S. BMI was founded in 1986 and is currently majority-owned by KLH Capital, who supported a recapitalization of BMI in 2016.

International law firm Bryan Cave Leighton Paisner (BCLP) today announced that experienced finance transactions lawyer Braden Shaw has joined the firm as a partner. Based in BCLP’s Chicago office, he joins as a member of the firm’s global Finance Transactions Practice.

TradeCap’s financing support allowed gaming accessories to be manufactured with overseas suppliers and shipped through a combination of air and sea shipments. The non-dilutive structure extended the runway of cash from the equity raise and enhanced the value of original shareholders.

Mr. Goldberger’s experience extends across a variety of industries and business structures, representing diverse institutional consumers and providers of senior and subordinated debt financing, across a broad range of financing transactions, including, among others, asset-based and cash-flow lending, acquisition financings, and recapitalizations and restructurings.

Lighthouse Financial Corp. is pleased to announce the completion of a $3,750,000 Credit Facility for a Tennessee based designer and distributor of lifestyle apparel. The company prides itself on bridging the gap between lifestyle and performance with a constant eye on ultimate style and quality.

NXT Capital announced today that it closed a senior credit facility in support of Sentinel Capital Partners’ acquisition of TTG Imaging Solutions, LLC. NXT Capital acted as the Administrative Agent, Lead Arranger, and Lead Bookrunner on this transaction.

SierraConstellation Partners LLC (SCP), an interim management and advisory firm to middle-market companies in transition, has promoted Tom Lynch to President and Chief Operating Officer. Since joining SCP in 2018, Lynch has played a pivotal role in building SCP’s nationwide presence from his base in the Northeast. He has led some of SCP’s most high-profile engagements, including serving as the interim CEO of David’s Bridal and as the Chairman and CEO of MedMen.

Burberry’s finances are going a deeper shade of green with a new sustainability-linked loan coordinated by Lloyds Bank. The 300 million pounds loan is linked to Burberry’s ambition to be climate positive by 2040, and comes less than 18 months after the company issued a sustainability bond.

GTCR, a leading private equity firm founded in 1980, announced today the opening of offices in New York City and West Palm Beach, Florida, establishing new locations to support its investment capabilities and broaden its talent acquisition initiatives. GTCR's offices in Chicago will continue to serve as the firm's headquarters and center of operations and will continue to account for the majority of the firm's employees.

Swept Technologies Inc. (“Swept”), the leading field management software platform in the janitorial industry, today announced closing debt financing with FirePower Capital (“FirePower”), Canada’s entrepreneurial lender, investor, and M&A advisor.