TSL Express Daily Articles & News

Sterling National Bank's Commercial Services Group provided a recourse factoring facility to CTL Medical Corporation. The credit facilities will be used to pay off current debt and provide working capital. Headquartered in Addison, TX, CTL Medical is a medical device company that designs, develops, and manufactures spinal implants and instruments.

Mike Colloton, Vice President – Asset-Based Lending at First Business Specialty Finance, LLC, a subsidiary of First Business Bank, announces a recently closed and funded $13 million revolving line of credit facility and real estate term loan for a plastic injection products manufacturer in Wisconsin.

Tech Capital, LLC, the asset-based finance company and wholly owned subsidiary of Tech CU, announced today that it is participating in a $30 million term loan originated and led by Multiplier Capital. This loan will serve the growth capital needs of one of Multiplier Capital’s portfolio companies – a venture-backed, growth stage, e-commerce company. Tech Capital’s participation will total $8 million.

Body and Mind Inc. (CSE: BAMM) (OTCQB: BMMJ) (the "Company" or "BaM"), a multi-state operator, is pleased to announce that it has closed a US$11.1 million debt financing (the "Loan") with related entities to FocusGrowth Asset Management, LP (collectively, "FGAM").

BizCap® (Business Capital since 2002) structured and secured multi-tranche credit facilities for one of the largest branded cheese producers and processors in California. In business for over 75 years, the family-owned company is one of the most respected and recognized brands sold to over 80 retailers across the US and Mexico, including Costco, Wal-Mart, Sprouts and Kroger.

Winston & Strawn represented Omnichannel Acquisition Corp. (NYSE: OCA) (“Omnichannel”), a publicly-traded special purpose acquisition company led by serial entrepreneur Matt Higgins and a deep bench of consumer operators, in its business combination with Kin Insurance, Inc. (“Kin”), an insurance technology company that makes home insurance easy and affordable.

LSQ, a leading provider of working capital solutions, announced the origination of two facilities totaling $4.75 million for an existing client. The Pennsylvania-based marketing agency required sufficient cash to execute the acquisition of a business that would expand its capabilities. The business, however, was overleveraged and carried an over advance with a separate factoring company.

Bridge Bank today announced its Boston-based Technology Banking Group has extended a $5 million monthly recurring revenue (MRR) line of credit to One Medical Passport (1MP), a provider of software that helps ambulatory surgery centers and hospitals streamline their systems. The line of credit is expected to provide the company with additional capital to bolster its growth in the ambulatory surgical software space.

RLH Equity Partners (RLH), a leading middle market private equity investment firm focused on high growth enterprises, is pleased to announce the addition of two individuals to the firm — Mark Gartner as a Principal focused on Investment Development and Madeline Ganey as an Associate.

Bob Shettle, former Co-Head of North American Private Finance & Chairman of the North American Mezzanine and Private Finance Investment Committees at Barings LLC, MassMutual’s $325+ billion AUM investment management subsidiary, has joined Star Mountain Capital as a full-time senior member of the investment team.

Pemberton, a European private credit manager backed by one of Europe’s largest insurers, Legal & General Group PLC, has launched the ‘Pemberton Wealth & Asset Management Solutions’, a new initiative aimed at providing the world’s leading wealth and asset managers, and in turn their clients, with access to some of the best private debt opportunities in Europe.

Alterna Capital Solutions (ACS), a specialty and alternative financier to high-growth small businesses, today announced it will support deal origination for a lower middle market private equity fund controlled by its affiliate, Alterna Equity Partners (AEP). The fund focuses on control and non-control investments in founder-owned and family-owned operating companies with $1 million to $10 million in EBITDA. The collaboration between the firms allows AEP to leverage the national client base of ACS, while enabling ACS to offer additional value to its clients.

ThermoCredit LLC, a funding and fintech company, has created a $250,000 line of credit for ASC Partners to fund the growth of their other business interests. Thermo Credit LLC has entered into an agreement with ASC Partners to provide a rapid access credit facility. The $250,000 factoring facility has been created for ASC Partners to continue growth of other business interests.

Ravinia Capital LLC, a boutique investment bank, announced today that veteran investment banker David Hirschfield is joining the firm as Managing Director, effective immediately. David has closed more than 150 transactions during his three and a half decades and counting of experience in sales, restructurings, and debt and equity raises, and is a recognized expert in middle-market M&A.

Lazard Asset Management (LAM) announced today that Joanne Choi has joined the firm as a Managing Director and Chief Marketing Officer, effective immediately. Based in New York, Ms. Choi joins from Goldman Sachs Asset Management, where she was Head of Global Marketing.

Alignment Credit, a leading provider of strategic credit solutions for emerging growth and middle-market companies, acted as the sole lead arranger and administrative agent on up to $20.0 million senior secured credit facilities for MindCare Solutions Group, Inc. (“MindCare”), in order to support MindCare’s acquisition of TriCounty Tele Behavioral Services, LLC (“TriCounty”) and other strategic initiatives.

H.I.G. WhiteHorse, the credit affiliate of H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $44 billion of equity capital under management, announced the closing of its latest direct lending strategy, H.I.G. WhiteHorse Direct Lending Fund - 2020 (the “Fund”). The Fund closed with aggregate capital commitments of approximately $1.65 billion,* well exceeding its target.

Skillsoft Corp. (NYSE: SKIL) (“Skillsoft” or the “Company”), a global leader in corporate digital learning, today announced it has successfully completed its previously announced debt refinancing. The Company has closed a new $480 million senior secured term loan B facility. This facility, along with cash on hand, will be used to refinance and repay the Company’s existing term loan facilities, thereby reducing long-term debt by approximately $130 million.

IDS, a leading provider of mission-critical enterprise solutions for secured finance today announced it has signed a strategic partnership agreement with Tamarack Technologies, Inc., a leading provider of digital transformation services and solutions for equipment finance. The partnership will capitalize on the increasing demand for IDScloud and accelerate the migration of equipment finance firms to the leading end-to-end SaaS solution for equipment finance.

Entrepreneur Growth Capital (“EGC” or “Entrepreneur”) is pleased to announce that it has provided a $5,000,000 asset-based line of credit to a New York-based electronics manufacturer and distributor (the “Company”).