TSL Express Daily Articles & News

Albright succeeds Donnie Cook who has led the market for the past 16 years and recently announced his retirement earlier this month. As president, Albright will be responsible for connecting the banking and investment resources offered through our eight lines of business to companies, families and individuals across Arkansas.

Mayer Brown announced today that Jason Quintana has joined the firm as a partner in its Mergers & Acquisitions practice in Chicago. Mr. Quintana joins from Perkins Coie LLP. Mr. Quintana advises public and private strategic operating companies and private equity sponsors and their portfolio companies on structuring, documenting, negotiating and consummating complex business transactions.

Daseke, Inc. (NASDAQ: DSKE) (“Daseke” or the “Company”), the largest flatbed, specialized transportation and logistics solutions company in North America, announced today that it has refinanced its existing $484 million Term Loan B due February 2024 with a new $400 million Term Loan B and available cash. JPMorgan Chase Bank, N.A. served as exclusive arranger and sole bookrunner for Daseke in executing this transaction.

Garrett Motion Inc. (“Garrett”) today announced that the U.S. bankruptcy court has approved the disclosure statement in respect of Garrett’s proposed plan of reorganization, which is sponsored by a consortium of investors led by funds managed by Centerbridge Partners, L.P. (“Centerbridge”) and Oaktree Capital Management, L.P. (“Oaktree”) (the “Plan Sponsors”).

In connection with the transaction, Flexiti and a related entity refinanced and expanded its nonrecourse asset-backed warehouse financing facility from $300 million to $395 million funded by Credit Suisse AG and SPF Securitized Products Master Fund Ltd.

CIBC Innovation Banking is pleased to announce a multi-million dollar growth capital facility for Practice Ignition Pty Ltd. (“Practice Ignition”), a leading accounting and client engagement platform. Practice Ignition plans to use the financing to deepen its investment in its proprietary product and technology, and further accelerate its global growth momentum.

Axiom Bank, N.A., a Maitland-based, leading community bank, recently named Jordan Wilson as Vice President, Commercial and Industrial (C&I) Loan Relationship Manager. In this role, Wilson will be responsible for generating new leads, loans and deposits by developing relationships with small and midsize businesses across the state.

SLR Credit Solutions announced that Kenny Smith was promoted to Senior Managing Director; George Vartanov – Vice President and Matthew Dunn to Assistant Vice President.

Haversine Funding announced the following recently closed transactions: a $500,000 lender finance facility to help launch a new factoring company; $5,000,000 of an $15,000,000 inventory loan participation to finance an e-commerce sales distributor and a $1,000,000 subordinated debt facility to support the growth of a factoring company focused on accounts receivable factoring transactions to companies focused in the staffing, janitorial and construction industries.

Associated Banc-Corp (NYSE: ASB) ("Associated") today announced that its Board of Directors has appointed Andrew J. Harmening as the Company's president and chief executive officer and a member of its Board of Directors, effective April 28, 2021. Mr. Harmening will also serve as president and chief executive officer of Associated Bank, N.A. and president of Associated Trust, N.A. Mr. Harmening was most recently senior executive vice president, consumer and business banking of Huntington Bank.

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 investment in Premier Roofing (“Premier”) by private equity sponsor Aurora Capital Partners. Headquartered in Denver, Colorado, Premier is one of the largest roofing service providers and vendor managed networks in the U.S.

NXT Capital, LLC announced today the final closing on NXT Capital Senior Loan Fund VI (L), LP (SLF VI Levered or the Fund). SLF VI Levered will have approximately $1 billion in fund capacity from equity commitments combined with expected leverage. The addition of the Fund increases NXT Capital’s asset management platform to approximately $11 billion in capital under management/direction as of February 28, 2021.

WSFS Financial Corporation (NASDAQ: WSFS) and Bryn Mawr Bank Corporation (NASDAQ: BMTC), jointly announced today the signing of a definitive merger agreement whereby Bryn Mawr Bank Corporation (“Bryn Mawr”) will merge with WSFS Financial Corporation (“WSFS”), in a transaction valued at approximately $976.4 million. Simultaneously with the merger, The Bryn Mawr Trust Company (“BMT”), the wholly owned subsidiary of Bryn Mawr, will merge into WSFS Bank, a wholly owned subsidiary of WSFS. The combination of two of the high performing, locally-based financial services companies in the Greater Philadelphia and Delaware region solidifies WSFS’ position as the preeminent, locally-headquartered bank for this region.

36th Street Capital Partners, LLC (“36th Street”) is pleased to announce the successful securitization of equipment loans and leases through a private loan transaction (“Transaction”) with pension and insurance companies as lenders. The Transaction involves the securitization of $138 million of “business essential” commercial equipment loans and leases, and includes two classes of loans with investment grade and non‐investment grade ratings assigned by DBRS Morningstar. Amherst Pierpont Securities LLC (“APS”) served as exclusive Arranger of the Transaction.

UMB Bank is pleased to announce Jeff Dunbar has joined its Capital Finance Business Development team as Senior Vice President, Business Development Officer under their Accounts Receivable Finance business channel. Operating out of St. Louis, Dunbar will be further enhancing the business’ marketing efforts throughout the Midwest territory.

Tradewind Finance is pleased to announce the hiring of Greg Champion as Vice President of Sales based in Chattanooga, Tennessee. In his role of VP Sales, Champion will be focused on driving growth for the company and increasing its client base. Champion joins Tradewind from Atradius Trade Credit Insurance, where, as Regional Manager, he developed new client relationships and assisted existing customers with their credit risk scenarios.

InterNex Capital is pleased to formally share with the market their new program focused on providing working capital to small and medium Minority & Women-Owned Business Enterprises (M/WBEs). Diversity is hugely important to the culture at InterNex. Diversity and inclusion are shared priorities and values among their founders, employees, investors, and partners.

BHI, a full-service commercial bank, announced that it has arranged $26.5 million in construction financing for the redevelopment of 629 E. Main Street in Richmond, Virginia, a 12-story office building that will be converted to mixed use multi-family. The borrower is Douglas Development Corporation (DDC), which will convert the property to 188 rental units comprising studios and one and two-bedroom apartments, and 132,806 square feet of commercial space.

CIBC Innovation Banking is pleased to announce that it has co-led a capital call facility to JMI Equity’s latest fund, JMI Equity Fund X. The capital call facility provides JMI Equity (“JMI”) with the flexibility to make investments in portfolio companies and call capital less frequently from the Fund’s limited partners.

Cerberus Capital Management, L.P. (“Cerberus”) announced today that its middle-market direct lending platform, Cerberus Business Finance, completed the final close of its latest flagship fund, Cerberus Levered Loan Opportunities Fund IV (“Fund IV”). Fund IV closed with $2.4 billion of equity commitments and, in total, Cerberus Business Finance raised more than $4.4 billion of equity commitments for its strategy across Fund IV and separately managed accounts.