TSL Express Daily Articles & News

George Albuquerque, Tracy Barry, Dan Davis, Monique Doherty, Kelly Edwards, Karin Morrell, Dave Nadler, Carrie Jo Osborne and Ron Strand-Sorrell spent several hours on May 5 sorting clothing, artwork and furniture that had been donated to the nonprofit organization. The team also donated clothing essentials, including socks and underwear, that had been collected internally by the Axiom Bank staff.

CIT Group Inc. (NYSE: CIT) today announced that it has named Christopher DeRosa as a business development officer in the West Coast office of its Commercial Services business. DeRosa, a vice president, will be based in Los Angeles and will focus on business development across a wide range of verticals supported by Commercial Services, including apparel, footwear, housewares, consumer electronics, health and beauty aids and more.

Monroe Capital LLC (“Monroe”) today announced the closing of a $455 million term debt securitization known as Monroe Capital MML CLO XI, LTD. The term financing was Monroe’s sixth CLO completed since March 2018 and is secured by a portfolio of middle market senior secured loans.

SG Credit Partners provided a $2 million growth capital facility to a provider of B2B and B2C telephony-related security services. The Company was seeking non-dilutive growth capital to execute on sales and marketing initiatives and have the ability to close quickly on accretive acquisitions.

Triumph Commercial Finance, a division of TBK Bank, SSB, is pleased to announce Jonathan Schuster as VP, Business Development Officer. Based in Southern California, Schuster will be responsible for sourcing $5 to $50 million asset-based and lender finance deals for the western region.

InterNex Capital recently closed an $8,000,000 line of credit for a seven decade old, world-leading Pennsylvania-based Specialty Engineering Contractor who focuses on solutions in glass manufacturing, industrial power generation, and controlled environment agriculture.

BHI, a full-service commercial bank, announced that it has launched a new Not-For-Profit division providing customized financial solutions to nonprofits including educational, healthcare, cultural and performing arts, social services, community, and membership organizations. The division is headed by Andrea S. Kantor, a veteran career banker with 25 years of experience, who joined BHI in 2019.

Horizon Technology Finance Corporation announced today it led a $30 million venture loan facility to TemperPack Technologies, Inc. ("TemperPack"), of which Horizon funded $7.5 million of the intial $15 million draw and an investment vehicle managed by Horizon Technology Finance Management LLC, Horizon's advisor, funded $7.5 million.

Kontrol Technologies Corp. (NEO: KNR) (OTC: KNRLF) (FSE: 1K8) ("Kontrol Technologies" or "Kontrol") a leader in smart buildings and cities through IoT, Cloud and SaaS technology is pleased to announce that it has selected RCAP Leasing ("RCAP"), a leading Canadian financing company, to offer lease finance options to customers of BioCloud.

Portage Point Partners, LLC (Portage Point), a business advisory and interim management firm that partners with stakeholders during periods of transition, underperformance and distress, announced today that Adam Chonich has joined the firm as a Managing Director.

The transaction refinances an existing facility with pricing linked to key sustainability initiatives measured by performance indicators that are aligned with Mercon’s long-term strategy and purpose of building a better coffee world. The new facility consists of a $250 million Origin Tranche to finance assets in Mercon’s coffee growing origin countries including Nicaragua, Brazil, Guatemala, and Honduras and a $250 million Destination Tranche to finance assets in countries coffee is destined to, such as the U.S. and European countries.

Ares Management Corporation (NYSE:ARES) today announced that a fund managed by its Private Equity Group has signed a purchase agreement to sell Farrow & Ball, a UK based manufacturer and retailer of premium paint and wallpaper, to Hempel Group. Terms of the transaction were not disclosed.

Amerisource Business Capital announced the closing and funding of a $2,000,000 senior credit facility for an Indiana-based contract manufacturing firm which provides powder coating, industrial painting, and related tubing products. The proceeds were used to fund the acquisition of the firm by a private investor.

Alterna Capital Solutions, a specialty and alternative financing lender to small businesses experiencing growth, today announced a $60 million transaction providing growth capital to a Florida-based healthcare staffing resource company. The deal is the largest transaction to date in the 3-year-old firm’s history and, combined with additional first quarter transactions totaling $101 million, helped the firm more than double the value of its June 1, 2020 portfolio.

Crestmark, the Commercial Finance Division of MetaBank®, N.A., is pleased to announce the appointment of Steve Crain as national account executive, and Jeffrey S. Whitcomb as North American construction lead for the Crestmark Equipment Finance (“CEF”) Group. They will be providing financing solutions for diverse equipment types. Crain is based in Milton Georgia, and reports to CEF Eastern Region Sales Manager, Arick Levine; Whitcomb is based in Huntington Beach California, and reports to CEF Western Region Sales Manager, Chris Emge.

White Oak Healthcare Finance, LLC (“White Oak”), today announced that it acted as sole lender and administrative agent on the funding of a $25 million asset-based senior credit facility for Aspen Skilled Healthcare, Inc. (“Aspen”). The funds will primarily be used to finance ongoing working capital. Aspen’s independent affiliates operate skilled nursing facilities (“SNF”) primarily located in the Los Angeles and San Francisco metro areas.

AFC Gamma, Inc. (NASDAQ:AFCG) (“AFC”) today announced it has provided a credit facility of $22 million to Justice Cannabis Co., a Chicago-based multi-state operator with licenses in eight states. The credit facility is designed to provide Justice Cannabis Co. with the capital necessary to purchase and complete the build out of its 72,000 square foot cultivation and processing facility, along with the buildout of a dispensary, both in Ewing, New Jersey.

CIT Group Inc. (NYSE: CIT) today announced that its Maritime Finance business served as sole lead arranger on a $22 million financing for a portfolio of five container ships. The financing was arranged on behalf of Madison Marine Corp., which is partially refinancing debt on five 4,000-TEU container ships. All five vessels are covered by existing charter agreements with a leading container liner company.

CIBC Innovation Banking is pleased to announce it has provided financing solutions, including a Capital Call Line of Credit, to Maverix Private Equity (“Maverix”). The capital call facility provides Maverix with the flexibility to make investments in portfolio companies prior to calling capital from the fund’s limited partners.

Crown Capital Partners Inc. ("Crown" or the "Corporation") (TSX: CRWN), a capital partner to entrepreneurs and growth businesses, today announced that it has entered into a new senior secured corporate credit facility ("Credit Facility") of up to $41.5 million with ATB Financial ("ATB"). This facility replaces Crown's previous $35.0 million credit facility, which had a maturity date of May 31, 2021. Crown will use the Credit Facility to fund investments, potential acquisitions and share repurchases and for general corporate purposes.