TSL Express Daily Articles & News

WSFS Financial Corporation (Nasdaq: WSFS), the parent company of WSFS Bank, announced it received approval from the Office of the Comptroller of the Currency (OCC) to merge with Bryn Mawr Bank Corporation (NASDAQ: BMTC). Subject to the remaining regulatory approvals and the satisfaction of other conditions, the parties expect to close the merger in the fourth quarter of 2021. The projected system conversion and Bank rebranding is scheduled to occur in January 2022.

OceanFirst Bank N.A. (“OceanFirst”), the wholly owned subsidiary of OceanFirst Financial Corp. (NASDAQ:OCFC), announces the addition of two experienced commercial banking officers to lead the Bank’s ongoing expansion plans in the Boston and Baltimore markets. Daniel Griggs recently joined OceanFirst as President of the Boston Regional market and is responsible for building a commercial banking team who will deliver customized financial solutions to businesses throughout Massachusetts.

Monroe Capital LLC (“Monroe Capital” or “Sponsor”) today announced AdTheorent, Inc. (“AdTheorent”) and MCAP Acquisition Corporation (NASDAQ: MACQ) (“MCAP”), a publicly-traded special purpose acquisition company, have entered into a definitive business combination agreement in which AdTheorent will be merged with MCAP. MCAP is sponsored by an affiliate of Monroe Capital LLC. Upon closing of the transaction, the combined company will be named AdTheorent, Inc. and it is expected to remain listed on the NASDAQ Capital Markets.

Pemberton, a European private credit manager transforming traditional credit markets, has added a Managing Director to the firm’s Business Development team, Sanford ‘Sandy’ Ewing who joined on 5 July 2021 and brings more than two decades of experience in the field.

TradeCap Partners closed a $7MM purchase order finance facility for a beauty and wellness company based in Florida. The Company designs, manufactures and distributes skincare devices, accessories and topical products. The Company had experienced 100%+ year over year growth in 2020 with existing and new customer commitments for 2021 projected to double sales again.

Affidea, the leading European provider of diagnostic imaging, outpatient and cancer care services announces the successful completion of a 150 million EUR credit facility. This recent credit line will further support the company's strategy for growth.

Marble Financial Inc. (CSE: MRBL; OTCQB: MRBLF; FSE:2V0) (“Marble” or the “Company”) an AI-driven financial technology company that educates and helps Canadians better understand and manage their current cash flow and credit towards a better financial future, is pleased to announce it has entered into an arm’s length definitive credit facility agreement (“Credit Agreement”) with CHP Agent Services Inc., a subsidiary of an independent, non-affiliated Canadian based alternative specialty lender, Cypress Hills Partners Inc. (“CHP”).

Mitsubishi UFJ Financial Group (MUFG), one of the world's leading financial groups, today announced that it has hired Okeatta Brown as Head of Inclusion & Diversity (I&D) for the Americas. Ms. Brown, a nationally recognized leader in diversity, equity, inclusion (DEI), and engagement, will join MUFG to elevate and enhance the bank's I&D efforts in the region. She will be based in Charlotte, North Carolina, and report to Amy Ward, Chief Human Resources Officer for the Americas.

Peter B. Zlotnick, a Partner of Moritt Hock & Hamroff LLP, was recently appointed by the New York City Bar Association (NYCB) to serve on its Cooperative & Condominium Law Committee, effective August 1, 2021, for a three-year term. The NYCB's Cooperative and Condominium Law Committee addresses issues pertaining to cooperative and condominium housing law in a variety of areas.

LSQ, a leading provider of working capital solutions, announced the origination of a $5 million facility for a growing staffing agency in Alabama. The facility helped address several strategic business needs. The agency was able to leverage their current accounts receivable to complete a management buyout— generating sufficient capital to complete the transaction without incurring additional term debt.

In separate timed, online auctions scheduled for August 10, Tiger Group and Tranzon Asset Advisors are respectively offering foreclosed equipment and real estate from a major CBD processor’s 86,500-square-foot hemp processing facility in Cadiz, which is part of the Clarksville, Tenn. metropolitan area.

H.I.G. Capital, a leading global alternative investment firm with over $44 billion of equity capital under management, announced today the formation of United Flow Technologies (“UFT”), a platform established to invest in the municipal and industrial water and wastewater market. H.I.G. has committed significant capital and resources to UFT to build a market leading company through transformational acquisitions and organic growth.

White Oak Global Advisors (“White Oak”) announced today that it has brought on Eric Tanjeloff as Managing Principal to lead White Oak Real Estate Capital (“WOREC”), a newly formed affiliate focused on credit opportunities in commercial real estate. WOREC will initially focus on direct loan origination secured by high quality real estate assets in the U.S.

Maryanne Lenardo has joined SLR Business Credit as Managing Director of Originations. She will be responsible for sourcing senior secured debt transactions (ABL and Factoring) ranging from $2MM to $30MM in the manufacturing, distribution, and service industries. Maryanne will be based in Los Angeles, covering the Western United States.

Care Lending Group (CLG) is pleased to announce the launch of its new financing company. After a two-and-a-half-year break from the financing business, CEO Paul McLean is joined by former colleagues Andrew Sunn, Dan Gilchrist, and Tim Trimper.

SouthState Corporation (NASDAQ: SSB) (“SouthState” or the “Company”) and Atlantic Capital Bancshares, Inc. (NASDAQ: ACBI) (“Atlantic Capital”) jointly announced today the signing of a definitive agreement pursuant to which Atlantic Capital will merge with and into SouthState in an all-stock transaction with an aggregate value of approximately $542 million, or $26.43 per share of Atlantic Capital common stock.

Varagon Capital Partners (Varagon) is serving as Administrative Agent, Joint Arranger and Joint Bookrunner on a senior secured credit facility to support Knox Lane’s investment in Any Hour Services (Any Hour).

Intersect ENT announced today that it entered into a $60 million secured term loan agreement with a fund managed by Deerfield Management Company L.P. (“Deerfield”). The term loan is structured in three $20 million tranches to provide funding for the remaining Fiagon acquisition payment over the next three years, and, in doing so, improves overall liquidity.

Citizens announced today that the strength of the economic recovery pushed this past quarter’s national Citizens Business Conditions Index™ (CBCI) to 57, its highest reading in three years and up five points compared to last year. A reading above 50 is considered expansionary.

Star Mountain Capital, LLC ("Star Mountain"), a specialized investment manager, with ~$2 billion in assets under management, focused exclusively on investing in private small and medium-sized businesses (lower middle-market), is pleased to announce that it has closed a $225 million asset-based leverage facility from top quality institutional investors led by ING Capital LLC (“ING”). The lending group consists of ING, CIT, TIAA Bank, Axos Bank, East West Bank, Georgia Banking Company and Customers Bank.