TSL Express Daily Articles & News

FGI Worldwide LLC, a global leader in commercial finance, today announced that Paul Melchiorre has been appointed to the Board of Directors of its parent company, FGI Worldwide Holdings LLC. Mr. Melchiorre brings over 30 years of business solutions leadership experience to FGI, specifically within the SaaS environment.

Amerisource Business Capital announced the closing and funding of a $2,000,000 senior credit facility for an Illinois based manufacturer of nickel and cobalt alloy.

JPMorgan Chase Bank, N.A (JPM), BofA Securities, Inc. (BAS), KKR Capital Markets LLC (KCM), Citigroup, N.A. (Citi), Credit Suisse Loan Funding LLC (CS), Goldman Sachs Bank USA (GS), Morgan Stanley Senior Funding, Inc. (MSSF), and UBS Securities LLC (UBSS) acted as joint lead arrangers (collectively, including any of the foregoing in their capacity as Joint Lead Bookrunners, each as a “Lead Arranger”).

Solifi, formerly IDS, a global fintech software partner for secured finance, announced that Stonebriar Commercial Finance (Stonebriar) has extended their relationship with Solifi as we provide our software-as-a-service (SaaS) technology platform to support their back-office portfolio management and growth goals. Stonebriar, the largest private independent equipment financing firm in the U.S., has been a client of Solifi since Stonebriar’s inception in 2015 and since 2004 with the management’s former company.

Crestmark, the Commercial Finance Division of MetaBank®, N.A., secured a total of $11,700,000 in ABL/factoring financial solutions for 13 new clients; Crestmark Equipment Finance provided $6,086,672 in 23 new transactions; Crestmark Vendor Finance provided $4,050,096 in 39 new transactions; and the Government Guaranteed Lending group provided $910,000 in financing for one new client in the first half of October.

Winston & Strawn represented Alkuri Global Acquisition Corp. (NASDAQ: KURI, KURIU and KURIW) ("Alkuri"), a special purpose acquisition company, in connection with its business combination with Babylon Holdings Limited ("Babylon"), one of the world's fastest-growing digital healthcare companies.

CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that, for the second year in a row, Hedgeweek has recognized CohnReznick as Best Audit Firm in its 2021 Americas Awards program. Hedgeweek is a major global publication covering hedge fund industry news for investors and fund managers.

BizCap® (Business Capital since 2002), a national commercial finance and advisory firm, today announced it has successfully structured and secured $8 million in growth financing for its repeat client, AlterG, the creator of the Anti-Gravity Treadmill. This financing will be used to pay-off existing debt with the remaining proceeds available to accelerate growth initiatives and working capital purposes, including new product development and expansion into new markets, as well as broadened adoption in rehabilitation and elite athletics.

Rosenthal & Rosenthal, Inc., a leading factoring, asset-based lending and purchase order financing firm in the U.S., today announced the completion of a recent $2 million revolving credit facility and $750,000 term loan to support the working capital needs of an Ohio-based finishing and coatings company serving the automotive, appliance and electrical industries.

RH (NYSE: RH) today announced the completion of a $2 billion debt financing (the “Term Loan”) by means of a Term Loan Credit Agreement through its subsidiary, Restoration Hardware, Inc. (“RHI”), as the borrower, Bank of America, N.A. as administrative agent and collateral agent, and the various lenders party thereto (the “Term Loan Credit Agreement”). The Term Loan has a maturity date of October 20, 2028 and a floating interest rate based on 2.5% spread over LIBOR subject to a 0.50% LIBOR floor.

Gerber Finance, an eCapital company and the leading finance partner for companies experiencing accelerated growth, today announced the closing of a $7MM line of credit to Fair Harbor, maker of sustainable swimwear, clothing, and accessories. The deal was completed under its Naturally Gerber division, which works with companies within the fast-growing natural products space, from clean label, organic and non-GMO products, to sustainable design and packaging.

Hudson Avenue Partners is pleased to announce that United Safety & Survivability Corporation, a Dubin Clark portfolio investment, has raised financing to support its acquisition of Fireboy-Xintex from W.S. Darley & Company. Hudson Avenue Partners acted as exclusive financial advisor to Dubin Clark and United Safety in arranging financing to support the acquisition and future growth capital needs of the company.

SG Credit announced it provided a $1.5 million growth capital facility to a leader in channel management automation for enterprises selling through channel partners. The Company was seeking capital for product development, to expand its team, and to execute on growth opportunities in its pipeline.

HV Bancorp, Inc., the parent company of Huntingdon Valley Bank, announced that Vice-Chairman Robert J. ‘Bob’ Marino has been appointed President of HV Bancorp, Inc., and its subsidiary, Huntingdon Valley Bank (HVB). Mr. Marino will join an executive team of accomplished bankers and help guide the next phase of Huntingdon Valley Bank’s explosive growth. HVB continues its work toward being the premiere community bank in the greater Philadelphia area.

Winston & Strawn represented Chart Industries, Inc. (the “Company”), as a Borrower, in connection with a $1,000,000,000 revolving credit facility with JPMorgan Chase Bank, N.A., to refinance its existing revolving credit facility and repay its existing term loan.

Exagen Inc. (Nasdaq: XGN), a leading provider of autoimmune testing solutions, announced today that it entered into an amendment to its loan and security agreement with its primary lender, an affiliate of Innovatus Capital Partners, LLC (“Innovatus”). The amended agreement provides a $27.2 million, 5-year term loan at 8.0% interest, of which 2.0% is paid in-kind in the form of additional term loans.

Pathlight Capital LP and S.P. Richards Company ("S.P. Richards" or the "Company") have completed a $100 million Last-out transaction (the "Last-out") as part of a Wells Fargo led $275 million Senior Secured Revolving Credit Facility (the "Facility"). S.P. Richards is a leading national business products wholesaler that distributes furniture, technology, facility breakroom, and other office products.

Monroe Capital LLC today announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the acquisition of decile.ten communications (“d10”) by The CM Group, LLC, an existing portfolio company of NaviMed Capital.

The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $900 billion equipment finance sector, showed their overall new business volume for September was $9.2 billion, up 6 percent year-over-year from new business volume in September 2020. Volume was up 8 percent month-to-month from $9.9 billion in August. Year-to-date, cumulative new business volume was up 10 percent compared to 2020.

CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that it has been recognized by Private Equity Wire as Best Accounting Firm in the publication’s 2021 US Awards program. Award winners were announced during an awards ceremony and networking event held at The University Club in Manhattan.