TSL Express Daily Articles & News

Crestmark, the Commercial Finance Division of MetaBank®, N.A., secured a total of $15,790,000 in ABL/factoring financial solutions for 12 new clients; Crestmark Equipment Finance provided $15,547,956 in seven new transactions; Crestmark Vendor Finance provided $2,791,048 in 28 new transactions in the first half of May.

J D Factors provided a $125,000 factoring facility to a transportation company in California.

Huntington Business Credit announced it closed new $34,000,000 in credit facilities with Golding Farms Foods, Inc. on April 14, 2021. Proceeds of the facilities were used in conjunction with investments provided by Centre Partners and Yukon Partners to refinance existing indebtedness and to provide ongoing working capital growth financing.

Blueknight Energy Partners, L.P. (“Blueknight” or the “Partnership”) (Nasdaq: BKEP and BKEPP) announced today that it has closed a new four-year, $300.0 million senior secured revolving credit facility (the “New Credit Facility”). The New Credit Facility will replace the previous credit facility which was set to mature in May 2022.

Mr. Perrotta brings with him 40+ years of experience providing various types of financing solutions to a wide range of businesses including manufacturers, wholesalers, distributors, service companies and select retailers.

Citizens Financial Group, Inc. (NYSE: CFG or “Citizens”) today announced that Citizens Bank, N.A. has entered into an agreement to acquire 80 East Coast branches and the national online deposit business from HSBC Bank U.S.A, N.A.. Under the agreement, Citizens will acquire approximately $9.0 billion in deposits and approximately $2.2 billion in loans for a 2.0 percent premium paid on deposits at closing.

CVC Credit (“CVC Credit”) is pleased to have provided the debt facility to support Sole Source Capital’s acquisition of Peak-Ryzex (“Peak” or the “Company”) and subsequent add-on acquisition of Optical Phusion, Inc. (“OPI”). The companies will be merged to create an enhanced market leader in automatic identification data capture (“AIDC”) and factory automation solutions. CVC Credit will support the growth strategy for the combined business going forward through the provision of a delayed draw term loan facility.

Varagon Capital Partners (Varagon) is serving as Administrative Agent, Joint Lead Arranger, Joint Bookrunner and Syndication Agent on a senior secured credit facility to support the acquisition of JTM Foods, LLC (JTM) by Tenex Capital Management (Tenex).

M&T Bank Corporation (NYSE: MTB) ("M&T") and People's United Financial, Inc. (NASDAQ: PBCT) ("People's United") jointly announced that, at their respective special meetings of shareholders yesterday, they each received the necessary shareholder approvals for the consummation of the merger of People's United into M&T.

Steve Emerson has announced the formation of Dry Creek Capital Partners LP (“Dry Creek”), a special situations investing group formed to provide a platform for investments in debt obligations of distressed commercial real estate and small business debt.

HomeLight, the real estate technology platform transforming the home buying and selling process for the top real estate agents and their clients, announced today that it is expanding its financial offerings, HomeLight Trade-In™ and HomeLight Cash Offer™, to top real estate agents, homebuyers, and sellers across Texas. The expansion is fueled by a $100 million credit facility from Credit Suisse, one of the world's leading financial service providers.

PureTech Health plc (Nasdaq: PRTC, LSE: PRTC) (“PureTech” or the “Company”), a clinical-stage biotherapeutics company, today announced that its Founded Entity, Akili Interactive (“Akili”), has secured $160 million of combined equity and debt financing. The financing included a $110 million Series D equity financing round led by Neuberger Berman Funds. In conjunction with the Series D financing, Akili also closed a credit facility for up to $50 million with Silicon Valley Bank.

CIT Group Inc. (NYSE: CIT) today announced that CIT Northbridge Credit, as advised by CIT Asset Management LLC, has named Todd Ping as a managing director for business development activities across the southeastern United States. Based in Atlanta, Ping will be responsible for sourcing new asset-based loan opportunities from $15 million to $150 million with business borrowers across a range of credit profiles. His appointment represents a strategic expansion by the CIT Northbridge business into the Southeast, where it has not previously had a business development presence.

The ranking, released today, states that Itkin acts for a broad range of clients on bankruptcy matters, including out-of-court restructurings and chapter 11 proceedings. Client comments include, "she is excellent in court," and "she is very smart, detail-oriented, hard-working and very dedicated to her clients."

Atkore Inc. (the “Company”) (NYSE: ATKR), a leading provider of electrical, safety and infrastructure solutions, today announced that it had completed the refinancing of the senior secured term loan facility of its subsidiary, Atkore International, Inc. (“AII”), which had been scheduled to mature in December 2023. The Company replaced the existing term loan facility with a new $400 million senior secured term loan facility of AII that matures in 2028.

Citizens M&A Advisory announced today that it served as the exclusive financial advisor to Simple Admit, a leading provider of automated patient relationship management solutions for surgery centers, on its merger with HST Pathways, a Bain Capital portfolio company and leading provider of cloud-based software focused on the ambulatory surgery center (“ASC”) space.

Debt financing for the transaction is being led by Barclays and Credit Suisse. Kirkland & Ellis LLP is serving as legal counsel to Bain Capital Private Equity.

IntelePeer, a leading Communications Platform as a Service (CPaaS) provider, is pleased to announce the completion of $110M in new funding, with $75M in convertible notes and debt financing from Sixth Street Growth and $35M in equity from Savant Growth. Building on a recent credit facility of over $60M from Sixth Street Growth to further accelerate the growth and innovation of its enterprise-centric Atmosphere® CPaaS platform, the new funding allows continued execution on IntelePeer’s growth and acquisition strategy to become the world’s leading CPaaS innovator.

King Trade Capital is pleased to announce the completion of a $5,000,000.00 purchase order finance facility for a Massachusetts based HEPA Air Purification company. King Trade Capital was contacted by a referral partner who was working with the Client to find working capital to support purchasing inventory to fulfill its growing sales. During the Covid-19 pandemic the Client expanded its product offering from its core business of water filtration systems to include HEPA Air Purifiers.

HYPERAMS, LLC announces the online auction of assets pertaining to a complete liquidation of Calibre, Inc, a provider of complex, high content, Class A paint solutions for North America’s largest motorcycle manufacturer. The assets are located in three facilities, two of which are located in Grafton, Wisconsin, and one in Saukville, Wisconsin.