TSL Express Daily Articles & News

MidCap Business Credit announced today they have closed on a $6,500,000 asset-based revolving line of credit for Horizon Mud Company headquartered in Midland, TX. Horizon Mud sells chemicals and provides engineering and project management services into the oil and gas industry. The opportunity was sourced out of Midcap’s office located in Dallas, TX.

For the 11th and seventh straight year, respectively, BMO has been recognized as the Best Private Bank and Best Commercial Bank in Canada by World Finance Magazine. The awards recognize both groups' innovative and client-centric approach; commitment to digital transformation and experience; and holistic understanding of market trends and changing client needs – especially during the COVID-19 pandemic.

Winston & Strawn represented Chart Industries, Inc. (NYSE: GTLS), a leading independent global manufacturer of highly engineered equipment servicing multiple applications in the Energy and Industrial Gas markets, in its acquisition of L.A. Turbine for $80 million in cash (subject to certain customary adjustments).

SVB Financial Group ("SVB") (Nasdaq: SIVB), the parent of Silicon Valley Bank, today announced it has completed the acquisition of Boston Private Financial Holdings, Inc. ("Boston Private"), the parent company of Boston Private Bank & Trust Company ("Boston Private Bank"), a leading provider of integrated wealth management, trust and banking services to individuals, families, businesses and nonprofits.

Absolute Software Corporation (Nasdaq: ABST) (TSX: ABST), a leader in next generation Endpoint Resilience™ solutions, today announced it has completed its previously announced acquisition (the “Acquisition”) of 100% of NetMotion Software, Inc. (“NetMotion”), a leading provider of connectivity and security solutions, from The Carlyle Group.

InPlay’s Senior Credit Facility has been reconfirmed at $65 million, comprised of a $55 million revolving credit facility and a $10 million operating line of credit, with the maturity date being extended to May 30, 2022. The Senior Credit Facility has been amended to a fully conforming, revolving facility under substantially the same terms as our current revolving facility with the borrowing base next scheduled for semi-annual review by November 30, 2021 and annual review by May 31, 2022.

Ares Management Corporation (“Ares”) (NYSE: ARES) announced today that a subsidiary of Ares completed its previously disclosed acquisition of Black Creek Group’s U.S. real estate investment advisory and distribution business (“Black Creek”). As a leading real estate investment management firm, Black Creek has approximately 300 professionals operating across eight offices throughout the U.S. and approximately $11.6 billion of assets under management (“AUM”), as of March 31, 2021.

Crayhill Capital Management LP, a New York-based private credit manager and asset-based investor with a strong focus on renewable energy investments, announced today the appointments of Erick Bauman and Ben Snydacker as Managing Directors of a newly-formed affiliate, Crayhill Renewables LLC, based in Nashville, TN.

Rexford Industrial Realty, Inc. (the "Company") (NYSE: REXR), a real estate investment trust focused on creating value by investing in and operating industrial properties located in Southern California infill markets, today announced that it has exercised the accordion option of the Company's existing unsecured revolving credit facility and increased the borrowing capacity by $200 million from $500 million to $700 million. All other material terms and conditions of the Company's unsecured revolving credit facility remain unchanged. Lenders for the $150 million unsecured term loan facility maturing May 22, 2025, include Capital One, National Association, as administrative agent and lead arranger, and Truist Bank.

Lions Bay Capital Inc. (TSXV: LBI) ("Lions Bay" or the "Company") announces that the Company has amended the secured loan facility ("Loan Facility") with Riverfort Global Capital Ltd. on behalf of Riverfort Global Opportunities PCC Ltd. (the "Lender"). The Loan Facility has amended the previously announced secured facility (see news release on March 15, 2018) and amended on July 4, 2019 to increase the Loan Facility to USD $2.0 million.

Axiom Bank, N.A., a Maitland-based, leading community bank, has expanded its team with the hiring of John Wattinger as Senior Account Executive in its factoring and asset-based lending division in Dallas. Wattinger brings more than 35 years of experience in commercial, middle market, asset-based lending and factoring. In this new role with Axiom’s Allied Affiliated Funding division, he will oversee a portfolio of client accounts while also managing the development and underwriting of new credit requests.

BDO Consulting Group, LLC is pleased to announce that Michael Edelschick has rejoined the firm’s Business Restructuring & Turnaround Services practice as a Managing Director and national leader of the Bankruptcy Litigation Services group. Edelschick was previously with BDO for seven years until he was hired in 2019 to lead the post-bankruptcy executive team of a specialty supermarket chain as its CFO and the only c-suite executive.

Crestmark, the Commercial Finance Division of MetaBank®, N.A., secured a total of $53,300,000 in ABL/factoring financial solutions for 17 new clients; Crestmark Equipment Finance provided $964,688 in two new transactions; Crestmark Vendor Finance provided $2,600,586 in 21 new transactions; and the Government Guaranteed Lending group provided $8,840,000 in financing for two new clients in the first half of June.

B. Riley Financial, Inc. (NASDAQ: RILY), a diversified provider of business advisory and financial services, announced it received multiple awards at the 13th Annual Turnaround Atlas Awards, hosted by Global M&A Network on June 24 and 25, 2021.

Winston & Strawn represented Arbor Investments and its portfolio company Crown Bakeries, in its announced acquisition of Bagel Boy, Inc. Crown Bakeries is a manufacturer of fresh and frozen bread, baked goods, and dough products. The Bagel Boy transaction marks the fourth add-on to the Crown portfolio in the last 15 months, giving the organization over 1,000 employees, serving customers across all channels—in retail, as a co-manufacturing partner for brands, as well as in foodservice.

Retail Ecommerce Ventures (REV) has made a successful bid to acquire the business and assets of Ralph & Russo Limited, the UK-based luxury brand specialising in couture, ready-to-wear and luxury goods. Paul Appleton of Begbies Traynor Group and Andrew Andronikou of Quantuma Advisory, acting as Joint Administrators, conducted a thorough and extended sales process which generated an immense amount of global interest and resulted in numerous parties submitting bids.

Cahill Gordon & Reindel LLP announced today that that C. Anthony Wolfe and Elizabeth Yahl have been elected to the partnership. The firm also announced that Michael Wolynski would become counsel to the corporate practice.

Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon"), a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries, announced today it led a $8 million venture loan facility to LiquiGlide, Inc. ("LiquiGlide"), of which Horizon funded $2 million of the initial $4 million draw and a private investment vehicle managed by Horizon Technology Finance Management LLC, Horizon's advisor, funded $2 million.

PennantPark Investment Advisers, LLC (“PennantPark”) today announced the successful closing of its fifth comingled fund, PennantPark Senior Credit Fund Levered, LP (“PSCF-Lev” or the “Fund”), securing $460 million in additional investment capacity and taking another significant step forward in the growth of the firm’s middle market private credit investment business.

Texas Capital Bank, N.A., and its parent company Texas Capital Bancshares, Inc. (NASDAQ: TCBI), collectively referred to herein as “Texas Capital Bank,” today announced that it appointed Rick Rodman to the newly created position of Head of Business Banking, effective June 21, 2021. This appointment underscores the Company’s commitment to significantly expand its Business Banking segment.