TSL Express Daily Articles & News

Paul Hastings LLP, a leading global law firm, announced today that experienced finance lawyer Stacy Hopkins has rejoined the firm, resident in the firm’s Los Angeles office. She joins from Wells Fargo Commercial Capital (WFCC), where she served as Senior Vice President in the Healthcare Finance group.

Hitachi Capital America Vendor Services (HCAVS), an organization that has been providing manufacturers and distributors with creative and competitive vendor financing solutions for over 20 years, is pleased to announce the promotion of Jacob Fahl to Vice President, Funding & Portfolio Services. Fahl who has replaced Don Link upon his retirement in mid-January, joined the organization in 2014, as an Opportunity Development Leader.

North Avenue Capital (NAC), one of the leading providers of USDA-backed commercial loans, is helping Texas Green Star (TGS) convert a 320-acre former commercial nursery facility into an innovative, state-of-the-art hydroponics growing operation with a focus on producing fresh leafy greens. Located north of Dallas in Sanger, Texas, a city with a population of fewer than 10,000 residents, this $15 million Business & Industry Guaranteed Loan will equip TGS to put a previously abandoned property to work producing nutritious vegetables year-round while avoiding the challenges that traditional agricultural producers face when growing out in the elements.

Wolters Kluwer Compliance Solutions’ newly acquired eOriginal technology platform is helping support a major U.S. government institution’s efforts to adopt digital technologies as part of its broader modernization initiative. Ginnie Mae, an eOriginal client, recently announced a key milestone in its digital journey by guaranteeing securitization of mortgage-backed securities (MBS) for the first time exclusively through the use of eNotes technology, utilizing the eOrginal platform.

BOK Financial (NASDAQ: BOKF) announced today that Kaushik Ponnusamy has been named the successor to retiring Evans Swann and will assume the role of managing director of loan syndications for the organization. Ponnusamy will lead the firm’s existing team of high-quality syndicators and oversee multi-bank marketing efforts across the company from the organization’s office in Dallas.

The Pennant Group, Inc. (NASDAQ: PNTG), the parent company of operating subsidiaries that provide home health, hospice and senior living services, announced that it has amended its revolving credit facility effective today, increasing its revolving line of credit by $75 million to a total of $150 million, of which approximately $18.3 million was drawn as of February 22, 2021. The amended credit facility is supported by a lending consortium arranged by Truist Bank.

InterNex Capital has provided a $3,000,000 Line of Credit (VelocityLOC) to a 20+ year old, foreign owned New York company who deploys and manages large scale video displays in malls, window fronts, and offices across North America.

Marco Financial established a $2,000,000.00 expandable receivables-based finance facility for a large domestic distributor of Personal Protected Equipment (PPE). Vital medical-provider protective supplies such as sterile gowns, gloves and masks are still in short supply and this Mid-Western distributor is a leading national source for large individual hospitals, and multi facility healthcare organizations.

Today, SANY announced it will partner with QuickFi, employing two QuickFi platforms: - the QuickFi 100% digital, borrower self-service financing platform, for nearly instant digital, financing of SANY equipment sales through SANY’s U.S. dealer network; and - the new, QuickFi e-commerce financing platform. After selecting, pricing and configuring SANY equipment on-line, equipment purchasers may transfer the shopping cart contents into QuickFi to apply for, structure, and consummate nearly instant one to five-year, fixed rate, term financing of SANY equipment purchased on-line.

CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that it received a second major industry award for its restructuring work for Allentown, Pennsylvania-based Coordinated Health. The 12th Annual Turnaround Atlas Awards recently recognized CohnReznick with its Out-of-Court Restructuring of the Year Award (mid-markets). The independently governed awards distinguish excellence in various categories of transactions, outstanding firms, top U.S professionals, and other leaders. CohnReznick previously earned the prestigious Turnaround Management Association (TMA) 2020 Turnaround and Transaction of the Year Award for its work for Coordinated Health.

Gerber Finance, a leading finance partner for companies experiencing accelerated growth, announced the closing of lines of credit to three natural products companies: Spiceology, Pacha Soap Company, and 4th and Heart. The deals were completed under the Naturally Gerber Division, which was launched in September 2020 to serve companies in the fast-growing natural products space.

SG was able to get comfortable with the transaction due to the Company’s sticky recurring revenue business model, projected growth in run-rate revenue supported by a strong pipeline, the enterprise value of the Company, and its clear path to profitability. SG was able to close the transaction within 10 days of a signed term sheet.

CIT Group Inc. (NYSE: CIT) today announced that its Maritime Finance business served as sole lead arranger on a $45 million financing for a portfolio of seven container ships. The financing was arranged on behalf of a fund managed by Mangrove Partners, a New York City-based value-oriented investment manager with substantial expertise is shipping assets. All seven vessels are covered by existing charters with leading container ship operators.

Morgan Lewis is again adding strength to its global finance team with the addition of Luis Herrero, who joins from Sidley as a partner resident in the Chicago office. Luis’s move to Morgan Lewis follows the recent arrival of former Sidley global finance practice co-leader Mark Kirsons.

Amerisource Business Capital announced the closing and funding of a $12,000,000 senior credit facility for a Texas based field services firm. The proceeds were used to support the company’s growth plans.

B. Riley Financial, Inc. (NASDAQ: RILY), a leading provider of financial services and business advisory solutions, today announced the addition of a Compliance, Risk and Resilience practice to its financial consulting division, B. Riley Advisory Services. Scott Corzine and Duane Lohn join B. Riley Advisory Services to lead a team of experienced risk management practitioners who specialize in business continuity, cybersecurity risk management, crisis management, ERM, and operational resilience.

Tom Duffy has been with Praesidian Capital for more than eight years. In that time, he has played a key role in investment sourcing, due diligence, structuring and execution. He has also been integral in monitoring the portfolio. Prior to joining Praesidian, Mr. Duffy was formally credit trained at Bank of America, Merrill Lynch through its MBA Credit Leadership Program.

Churchill Asset Management LLC (“Churchill” or the “Firm”), an investment-specialist of Nuveen providing customized financing solutions to private equity firms and their portfolio companies, today announced promotions across the firm. Notably, Randy Schwimmer, Senior Managing Director, Head of Origination and Capital Markets, and Mathew Linett, Senior Managing Director, Head of Underwriting and Portfolio Management, have been named Co-Heads of Senior Lending. The Firm also announced the promotion of Christopher Cox, formally Chief Risk Officer for the senior lending strategy, to Chief Risk Officer for the entire Churchill organization.

Cowen Inc. (NASDAQ:COWN) (“Cowen” or the “Company”) today announced that Adam Chazan has joined the Company’s Investment Banking division as a Managing Director with leadership responsibility for the firm’s Tools and Diagnostics banking practice. Mr. Chazan will be based in New York and report to George Milstein, Head of the Health Care Investment Banking Group.

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 two additional executive leadership appointments. Tim Storms has been named Chief Risk Officer of both companies, effective immediately following the decision by John Turpen to step down as Chief Risk Officer. Mr. Turpen will continue to support Mr. Storms and the Company until March 31, 2021, to ensure an effective transition. Shannon Jurecka has been appointed to the newly created position of Chief Human Resources Officer, effective April 1, 2021, to advance the Company’s commitment to developing world-class talent and a high-performance culture.