TSL Express Daily Articles & News

Global law firm Norton Rose Fulbright today announced that Tom Delaney has joined its Washington, DC office as a partner. With over 30 years of experience, Delaney is regarded as one of the leading financial services lawyers in the United States.

Amerisource Business Capital announced the closing and funding of a $1,000,000 senior credit facility for a Texas-based Bioscience firm. The proceeds were used to support growth and working capital needs.

Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending and purchase order financing firm in the U.S., today announced the completion of a recent $500,000 purchase order finance facility to support the production financing requirements of a Florida-based importer of laboratory supplies.

Crown Partners LP, a debt advisory firm specializing in senior credit facilities and loan products for US companies, announced the closing of an $8.0 million credit facility consisting of a $5.0 million revolving line of credit, $2.5 million real estate term loan and a $500K CapEx line of credit, for Boston Battery, LLC and its subsidiary companies.

Cuttic joins the company from Synovus Bank in the southeast, where he developed an ABL program and was instrumental is overseeing significant growth. Before that, he was part of the founding senior management team that started Veritas Financial Partners, which was sold to the White Oak Group in 2019. He also held senior positions in ABL at First Capital and Capital Business Credit, both in Atlanta.

With HSBC Bank USA, N.A. and BMO Capital Markets Corp. as joint lead arrangers and joint bookrunners, the syndicate bank group includes BMO Harris Bank N.A., Silicon Valley Bank, Wells Fargo Bank, N.A., and PNC Bank National Association. HSBC Bank USA, N.A. is the administrative agent.

Brightwood Capital Advisors, a leading private credit firm focused on providing capital to growing North American middle-market businesses, announced that it supported the sale of portfolio company ECP-PF Holdings Group, one of the nation's largest Planet Fitness franchisees, to TowerBrook Capital Partners, an international investment management firm.

On November 1, 2021, Gary Strong accepted his appointment to the Boards of Directors of Oak Valley Bancorp (the “Company”) [NASDAQ: OVLY] and its wholly owned subsidiary Oak Valley Community Bank (the “Bank”). Strong is the Chief Executive Officer of the California Gold Country Region of the American Red Cross and has served in this role since 2015. In this position, he leads the Sierra Delta and Northern California Chapters, which include more than 2,000 volunteers and 40 employees who respond to nearly 800 local disasters each year and serve close to four million residents in 26 counties.

Moritt Hock & Hamroff (MH&H) is pleased to report that the Firm’s managing partner, Marc L. Hamroff, will be speaking at the upcoming SFNet Annual Convention. Now in its 77th year, the Convention brings together secured lenders and their allied service providers for two days of networking and learning. The 2021 Convention is taking place in Phoenix, AZ from Nov. 3-5.

The company sought a growth-orientated ABL facility that would unconditionally support their growth and post-COVID business renewal plans. The company is a promotional products manufacturer that services large fortune 1,000 companies across the automotive, technology, finance, energy and retail industries throughout the US.

Barganski has more than 22 years of financial services and entrepreneurial experience. Prior to joining PlainsCapital, Barganski spent eight years overseeing two restaurants in the Coastal Bend area. Under Barganski’s leadership, both restaurants received performance-based Champions Circle awards for three consecutive years. Before his time as an entrepreneur, he served as senior vice president at BBVA Compass for more than eight years.

PopReach Corporation ("PopReach" or the "Company") (TSXV: POPR) (OTCQX: POPRF) today announced that it has entered into an amendment to its US$7.5 million senior secured credit facility (the "Facility") with a leading Canadian Schedule I Bank, to modify certain aspects of the agreement.

Lenders under the new credit agreement include JPMorgan Chase Bank, N.A., BofA Securities, Inc., Barclays Bank PLC, Citibank, N.A. and HSBC Bank USA, N.A.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach, announced that its Asset-Based Lending team has closed a custom financing package for Medical Record Associates, LLC (MRA), a leading provider of medical coding, auditing and cancer registry services. The Wellesley, MA-based, MRA has been working with hospitals nationwide since 1986 assisting with the non-clinical side of healthcare delivery.

Private equity fund managers are accelerating deal timelines in an effort to win bids, and more than half say uncovering risk during due diligence is a main challenge to closing deals, according to BDO’s Fall 2021 Private Capital Pulse Survey. The findings of the survey, which polled 200 U.S. private equity fund managers, underscore the frenzied state of deal making. Forty-two percent of fund managers say they are directing the most capital to new deals (up from 19% a year ago and 26% in the spring) and deal flow drivers are up across the board. Meanwhile, their pursuit of add-on acquisitions has fallen to 16% from 24% a year ago and 29% in the spring.

The Turnaround Management Association is proud to announce Jane Mitnick, SM Financial Services Corporation as 2022 TMA Global President. Her term begins on January 1, 2022. Current TMA President, Matthew English, CTP, Arch + Beam, will transition to TMA Chair in 2022, and Derek Meek, Burr & Forman LLP, will transition to Immediate Past Chair.

CIBC Innovation Banking, Ten Coves Capital, and Mosaik Partners are pleased to announce that they have provided new credit facilities and equity financing to San Diego-based Point Predictive Inc. (“Point Predictive”), a leading data and analytics company that helps lenders automate loan decisions, mitigate loan losses and reduce underwriting friction. Leveraging un-matched industry data consortiums and the power of AI and machine learning models, Point Predictive helps lenders better separate truthful loan applications from those containing fraud and misrepresentation to accelerate the underwriting process − a significant industry demand.

Palette Life Sciences, a Swedish domiciled, fully integrated global life sciences company dedicated to improving patient outcomes, today announced that it has entered into a debt financing facility for up to $40 million (“debt facility”) with Silicon Valley Bank’s UK Branch. The non-dilutive capital provides further financial flexibility to support commercial and product development activities across its product continuum.

J D Factors announced it provided the following factoring facilities: $200,000 to a transportation company in Virginia; $75,000 to a transportation company in Ontario; $250,000 to a transportation company in Illinois; $200,000 to a transportation company in Maryland.

CIT Group Inc. (NYSE: CIT) today announced that its Power and Energy business served as sole lead arranger for $67.8 million in financing for construction of the new AMP NY2 community solar and storage portfolio. CIT led the financing on behalf of Amp Energy, which is developing a renewable energy portfolio consisting of five separate solar power generation systems at four project sites located throughout central New York State.