TSL Express Daily Articles & News

Finitive, the leading data-driven private credit marketplace, today announced has named Andrew Holgate to lead Finitive's European initiatives as the company's Managing Director – Head of Europe. In this UK-based role, Holgate will develop and maintain Finitive's relationships throughout Europe with non-bank lenders seeking financing, such as specialty finance companies, online lenders, marketplace lenders and private credit funds.

Hilco Global (www.hilcoglobal.com), the world's premier authority on asset valuation, monetization, and advisory solutions, announced today that it’s commercial-industrial team has acquired all of the assets of Sutton Leasing, a large fleet leasing company based in Sterling Heights Michigan, in a multi-million-dollar transaction which closed on May 7, 2021.

Funds managed by Stonepeak Infrastructure Partners (“Stonepeak”), a private equity firm specializing in infrastructure investing, have partnered with Bellinger Asset Management (“Bellinger”) to complete the acquisition of a US$1.1 billion performing aircraft loan portfolio from National Australia Bank. Allen & Overy LLP served as legal advisor on the transaction. Deutsche Bank Securities Inc. served as financial advisor on the transaction.

Wells Fargo & Company (NYSE: WFC) today announced that Ulrike Guigui has been named head of Payments Strategy. She will join the company on June 1 and will report to Ather Williams III, Wells Fargo head of Strategy, Digital, and Innovation. In this new position, Guigui will be responsible for leading the company’s enterprise payments strategy. She will work across the company and with industry partners to ensure Wells Fargo is strategically aligned and positioned for growth opportunities in the payments industry.

Based in New York City, Otté will help private equity (PE) firms leverage Raymond James’ industry insight, execution expertise and long-standing dedication to the middle market space. With more than 20 years of deal experience across investment banking, private equity, debt capital markets and commercial lending, Otté is a trusted partner to PE firms with a proven track record of identifying potential acquisitions, refinancing portfolio companies and monetizing investments.

Monroe Capital LLC (“Monroe”) today announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the recapitalization of Oscar W. Larson Company (“Oscar Larson”) by private equity sponsor Trive Capital.

EisnerAmper, the accounting, tax and advisory firm, has launched a new group focused on special purpose acquisition companies, or SPACs. The new team will be led by Nina Kelleher, a director with Eisner.

Sidley is pleased to announce that Holt Foster has joined the firm as a partner in the Dallas office. Mr. Foster will be a member of the global Energy and Infrastructure group and a practice area team co-leader of the Energy practice. He joins Sidley from Thompson Knight where he has served on the firm’s Management Committee and as head of the Dallas office.

Struggling British fashion retailer Ted Baker (TED.L) has refinanced by extending a revolving credit facility with its existing syndicate of lending banks, it said on Tuesday. The group said that under the new agreement a facility of 108 million pounds ($153 million) maturing in September 2022 and a restricted facility of 25 million pounds maturing in January 2022, will be replaced by a new facility of 90 million pounds reducing to 80 million pounds in January 2022 until maturity in November 2023.

“We’re very excited to help fuel the rapid growth of our client as they support the post pandemic recovery” said Mark Horan, Chief Growth Officer at 36th Street. “We are optimistic that companies like this will continue to drive demand for financing as the U.S. economy rebounds”.

InterNex Capital, a technology driven lender to the lower middle market has hired Heather Fidura as a business development officer. Fidura will be based in Tampa, Florida and will focus on generating new business with InterNex’s suite of products including ABL, invoice finance, and term loans.

Greystone, a leading national commercial real estate finance company, announced that Rob Russell has been appointed head of Greystone Special Servicing. As President of this group, Mr. Russell will focus on its continued growth and will further integrate special servicing with Greystone’s existing primary servicing division, led by Sharon Briskman.

Argenta Limited (“Argenta”), the only global contract research organization (CRO) and contract development and manufacturing organization (CDMO) specializing in animal health, and NovaQuest Capital Management (“NovaQuest”) announced today a $30 million product financing agreement for the development of several innovative veterinary pharmaceuticals.

Ares Management Corporation (“Ares”) (NYSE: ARES) announced today that a subsidiary of Ares has entered into a definitive agreement to acquire 100% of Black Creek Group’s U.S. real estate investment advisory and distribution business (“Black Creek”), a leading real estate investment management firm. Eastdil Secured, LLC acted as financial advisor to Ares and Latham & Watkins LLP served as legal counsel. Hodes Weill & Associates acted as financial advisor to Black Creek and Simpson Thacher & Bartlett LLP served as legal counsel.

Cohn & Dussi, a full-service law firm with its principal office in Boston, is pleased to welcome three new employees to their team: two attorneys and a Chief Financial Officer/Chief Operating Officer. The firm specializes in Creditor’s Rights, Workouts and Bankruptcy, Equipment Finance and Leasing, Banking, Commercial Litigation and Real Estate Law.

Wintrust Receivables Finance announced the closing of a new $4 million line of credit for a growing third-party logistics company. Wintrust was able to provide the new line of credit at a materially lower cost of capital than the previous lender, with an aggressive advance rate on the accounts receivables collateral and a flexible, no covenant structure.

Stonebriar Commercial Finance announced the closing of a $17.5 million sale and leaseback of certain manufacturing and distribution center related equipment for K&N Engineering, a leading branded automotive air filter and air intake systems manufacturer and portfolio company of funds managed by Goldman Sachs Asset Management (“Goldman Sachs”).

IDS, a leading provider of enterprise mission-critical solutions for secured finance has been selected a winner of the Top 20 FinTech Solution Providers 2021 by Enterprise Ventures. IDS was selected after a rigorous evaluation process which included over 300 global fintech software technology firms and was based upon the company’s market position, sales momentum and product innovation.

Haversine Funding, a leading provider of alternative financing solutions, today announced the hiring of Jeffrey Whaley as chief financial officer. Whaley, who has more than 20 years of experience, will oversee accounting, operations, and compliance. In his new position, Whaley will work closely with investors playing a critical role in guiding the future growth of the company.

BHI, a full-service commercial bank, announced that it has provided $60 million in financing for the bulk acquisition of 70 residential condominium units in the Charlie West building, located at 505 W. 43rd Street in Manhattan’s Hell’s Kitchen neighborhood. The borrower is a joint venture of Tishman Realty & Construction and PIMCO, which is acquiring the units, totaling 76,897 square feet, from Charlie West developer the Elad Group.