TSL Express Daily Articles & News

The International Factoring Association, the world’s largest association of commercial finance companies, announced that Tania Daniel has assumed the role of Executive Director. Daniel, who has spent her entire career in the factoring industry and is also a long-standing member of the IFA’s Advisory Board, will help lead the association into its next chapter.

German American Bancorp, Inc. (Nasdaq: GABC) announced today that it has completed its merger with Citizens Union Bancorp of Shelbyville, Inc., the parent company of Citizens Union Bank of Shelbyville, Inc. of Shelbyville, Kentucky, effective at 12:01 a.m. (Eastern time) on January 1, 2022. Immediately following completion of the holding company transaction, Citizens Union Bank merged with and into German American’s banking subsidiary, German American Bank.

Apex Innovative Sciences, Inc. (“Apex” or the “Company”), a clinical research and site service organization specializing in complex early phase studies, has completed a corporate divestiture of Ocean View Adult Psychiatric Hospital (“Ocean View”). Ocean View was acquired by View Behavioral Health (“View”), an investment group led by former Divisional President, Jack Stephens. FocalPoint Partners (“FocalPoint”) served as exclusive financial advisor to the Company.

Velocity Risk Underwriters, LLC (“Velocity Risk”), a catastrophe-focused property and specialty insurance risks managing general agent (“MGA”), has announced its acquisition by funds managed by Oaktree Capital Management, L.P. (“Oaktree”), a leading global investment manager specializing in alternative investments.

Urgently, a leading provider of digital roadside and mobility assistance services, announced today it has secured up to $75 million in debt financing from certain funds managed by Highbridge Capital Management, LLC (“Highbridge”), Onex Credit and Whitebox Advisors, that will help the company advance its mission to transform the legacy roadside assistance market and to develop and define the new market for connected mobility assistance services for automotive, insurance, fleet, logistics, new mobility and technology transportation companies. In addition, Structural Capital refinanced and increased its existing debt facility with Urgently to $17.5 million.

Stephen Emery Cummings, who retired in March as the president and CEO of Mitsubishi UFJ Financial Group (MUFG) in the Americas, has been chosen as Virginia’s next secretary of finance, Gov.-elect Glenn Youngkin announced Wednesday.

Dominion Lending Centres Inc. (TSXV:DLCG) (“DLC” or the “Corporation”) is pleased to report that it has closed its new credit facilities with Toronto-Dominion Bank, the terms of which were previously announced by the Corporation on November 29, 2021.

Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised WhiteWater Express Carwash (WhiteWater), a portfolio company of SkyKnight Capital L.P. (SkyKnight), on its recapitalization led by Freeman Spogli & Co. (Freeman Spogli). WhiteWater is an express car wash platform with over 60 locations headquartered in Houston. The transaction was led by Jershon Jones, Jason Bass, Joe Conner, Jonathan Meredith, Nick Petrick and Matt Williamson of the Harris Williams Transportation & Logistics (T&L) Group.

Capital Southwest Corporation (“Capital Southwest”) (Nasdaq: CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, announced today that it backed Xyresic Capital’s (“Xyresic”) acquisition of Tele-Town Hall LLC (“TTH” or the “Company”) with a senior secured first lien term loan and a second lien term loan. Capital Southwest led the financing and will act as the sole administrative agent on the facility.

More than ever, the past two years have underscored how we are all connected. In the spirit of giving and sharing, Siena has donated to several food pantries and soup kitchens across the country on behalf of our employees and clients.

Parker, Hudson, Rainer & Dobbs LLP is pleased to announce commercial finance attorney Kelley C. Gass has been admitted to the partnership as of January 1, 2022. Kelley is a member in the firm’s Commercial Finance practice group, representing national and regional banks and other financial institutions in a broad spectrum of secured lending transactions. Her work includes asset-based financings, syndicated loan facilities, healthcare financings, acquisition financings, and debtor-in-possession financings.

Celtic Capital provided a $500,000 accounts receivable line of credit and a $630,000 equipment loan to accomplish the company’s objectives.

Bitfarms Ltd. (NASDAQ: BITF // TSXV: BITF), a global Bitcoin self-mining company, secured a $100 million credit facility with Galaxy Digital LLC backed by Bitcoin (BTC).

Finitive, the leading data-driven private credit marketplace connecting borrowers with institutional investors, today announced it has hired Todd Stokes, PhD as its Chief Data Officer. In his new role, Dr. Stokes will lead the formation of an analytics organization to leverage third-party and proprietary data, machine learning and algorithms to advance and accelerate how investors gain access to, and lend to, private credit borrowers on the Finitive platform.

Aterian, Inc. (Nasdaq: ATER) (“Aterian”) announced today that it has signed an asset backed credit facility with MidCap Financial Trust (“MidCap”), which is managed by a subsidiary of Apollo Global Management, Inc. The credit facility has a three year term and gives Aterian access to up to $50 million in total credit, consisting of $40 million in commitments with an accordion facility of an additional $10 million.

CIT Group Inc. (NYSE: CIT) today announced that its Maritime Finance business provided $35.5 million to finance four commercial shipping vessels operated by Greenyield Shipping LLC.

Audax Private Debt announced that, as Administrative Agent and Sole Arranger, it provided a unitranche credit facility to support the acquisition of PracticeTek (or the “Company”) by investment funds affiliated with Lightyear Capital, a New York-based private equity firm focused on financial services.

Commercial Credit, Inc. (CCI), a Charlotte-based equipment and accounts receivable finance company and the parent company of Commercial Credit Group Inc. (CCG) and Commercial Funding Inc., announced today that it has acquired Keystone Equipment Finance Corp. Terms of the transaction were not disclosed.

MCAP Acquisition Corporation (“MCAP”) (Nasdaq: MACQ), a special purpose acquisition company sponsored by an affiliate of Monroe Capital LLC (“Monroe Capital”), today announced the completion of its business combination (the “Business Combination”) with AdTheorent Holding Company, LLC (“AdTheorent” or the “Company”), a leading programmatic digital advertising company using advanced machine learning technology and privacy-forward solutions to deliver measurable value for advertisers and marketers.

Simmons Bank (Simmons) announced today the creation of a new Corporate Banking Division. This new unit will provide Simmons Bank the ability to consolidate specialized lines of business loans aligning commercial and equipment finance, government and institutional banking, mortgage warehouse lending, commercial deposits, asset-based lending and structured real estate finance into a dedicated division.