TSL Express Daily Articles & News

Theragun®, Inc. d/b/a Therabody™ (“Therabody” or the “Company”) has announced the successful closing of a debt refinancing with JPMorgan Chase ("JPMorgan"). FocalPoint Securities, LLC (“FocalPoint”) served as Therabody’s exclusive financial advisor on the transaction. Therabody is a global innovator of wellness technology and the creator of the world’s first-ever percussive therapy device, Theragun, which is used to treat muscle tension, accelerate recovery, and improve athletic performance.

Landec is a diversified health and wellness solutions company with two operating businesses: Curation Foods is an innovator and distributor of plant-based foods to retail, club and foodservice channels throughout North America. Curation Foods brands include Eat Smart® fresh packaged vegetables and salads, O Olive Oil & Vinegar® premium artisan products, and Yucatan® and Cabo Fresh® avocado products. Lifecore Biomedical is a fully integrated contract development and manufacturing organization (CDMO) that offers highly differentiated capabilities in the development, fill and finish of sterile, injectable pharmaceutical products in syringes and vials for global and emerging biopharmaceutical and biotechnology companies.

Lighthouse Financial Corp. is pleased to announce the completion of a $1,050,000 term loan secured by machinery and equipment in conjunction with a term extension on the existing $3,500,000 line of credit for a froze foods manufacturer. Also included in the transaction is a seasonal line increase to $4,500,000 to support holiday season sales.

The chief economists of North America’s largest banks see improvement in business and consumer credit market conditions over the next six months, according to a new quarterly report from the American Bankers Association. The Q1 2021 ABA Credit Conditions Outlook highlights the results of the ABA Credit Conditions Index. The report represents a suite of indices derived from the quarterly outlook for credit markets produced by ABA’s Economic Advisory Committee, which is comprised of chief economists from major banking institutions across North America. Readings above 50 indicate that, on net, the economists expect business and household credit conditions to improve, while readings below 50 indicate a deterioration.

LSQ, a leading provider of technology-driven working capital solutions, announced that the company originated a $3 million facility for a growing manufacturer to the U.S. government. The injection of capital via invoice financing will facilitate the acquisition of essential resources so that the manufacturing company can scale to meet the sizable demand implicit with their designation as a government contractor.

Cogent Bank announced today that its Specialty Lending Group has surpassed $100MM in loan commitments in less than 30 months. Mike Skat, executive vice president of Cogent Bank’s Specialty Lending Group, created a roadmap for how Cogent’s Specialty Lending Group would operate and established aggressive growth goals. During a very difficult 2020, Skat and his team worked hard to not only to grow their portfolio, but also assist with necessary liquidity support for existing borrowers through the PPP loan program and certain restructurings.

Express Trade Capital Inc,. is pleased to announce a new $5MM letter of credit facility to assist the production of PPE. The client – an apparel industry mainstay – was using our factoring and PO funding facilities for several years before pivoting to produce PPE during COVID. The client needed to fulfill immediate orders and replenish stock but was uncomfortable leaving large deposits overseas before ensuring that goods were produced and passed quality inspections.

Maxim Commercial Capital (“Maxim”) today announced it funded transactions ranging from $10,000 to $1.5 million for borrowers in 42 states during 2020. The financings enabled small and mid-sized businesses (“SMBs”) get the heavy equipment they need to sustain and grow their businesses, despite challenged credit and the global COVID-19 pandemic (“Pandemic”). Maxim lends from $10,000 to $3,000,000 secured by heavy equipment and real estate to facilitate asset purchases, working capital and to refinance expensive short-term debt.

Stenn International has closed a seven-figure trade receivables finance program for a trading company based on the Westcoast that sources sporting goods from the Asia-Pacific region. This new financing program is being used to free up working capital to support sales expansion. Golf is one of the industries to flourish during the coronavirus outbreak. Beyond courses and clubs, other consumer-focused sectors in golf are also thriving during the pandemic.

Hilco Global has issued a timely and relevant report examining the shift in the balance of value between tangible and intangible assets that has taken place among large corporations, and how data driven insights and thorough management of a technology patent portfolio can lead to the realization of significant value for companies seeking access to additional sources of liquidity. Best Practices for Valuation, Assertion and Monetization of Technology Patent Assets, authored by Gillian McColgan of Hilco IP Merchant Banking, discusses the process for properly assessing and valuing technology patents as well as the painstaking steps that must be undertaken to both establish defensible patents and demonstrate infringement.

Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending and purchase order financing firm in the U.S., today announced the completion of a recent $500,000 purchase order finance facility to support the production financing requirements of a California-based cosmetics and beauty products company.

Express Trade Capital Inc. is pleased to announce a new $5MM letter of credit facility to assist the production of PPE. The client – an apparel industry mainstay – was using our factoring and PO funding facilities for several years before pivoting to produce PPE during COVID. The client needed to fulfill immediate orders and replenish stock but was uncomfortable leaving large deposits overseas before ensuring that goods were produced and passed quality inspections.

Ancon celebrated its 52nd year in business during 2020. With humble beginnings in the Ports of Los Angeles and Long Beach, Ancon has expanded its business over the past 52 years beyond the port, into Industrial and Environmental Cleaning, with 10 operational locations across the US and service all major US Refineries and Power Plants.

A&G Real Estate Partners—an advisory firm specializing in lease restructuring, real estate sales and auctions nationwide—captured two major awards at the 12th Annual Turnaround Atlas Awards Ceremony, a virtual event held on January 22. Most notably, the Melville-based firm won the coveted “Outstanding Restructuring Real Estate Firm of the Year” award at the independently governed program administered by Global M&A Network, which honors best value-creating transactions, outstanding firms, professionals and leaders from the global restructuring, insolvency, and distressed investing communities. Delayed by the pandemic, the January 2021 program honored projects completed in 2019.

Piermont Bank, a tech-enabled digital commercial bank headquartered in New York City, is pleased to announce that Marianne McGoldrick has joined the bank as Chief Credit Officer. Ms. McGoldrick will oversee Piermont Bank’s credit administration, including credit approval process, loan policies, and procedures, while ensuring its lending portfolio’s overall quality. She and her team will be safeguarding Piermont’s culture of prudent risk management.

As part of its strategic path forward, Knotel has reached an agreement to sell the business to an affiliate of Newmark Group, Inc. (Nasdaq: NMRK) ("Newmark"), a leading full-service commercial real estate firm. The Company has also made the decision to exit multiple locations in the U.S. as part of the process. Milbank LLP and Fenwick & West LLP are serving as legal counsel and Moelis & Company LLC is serving as investment banker to Knotel

TCF Capital Solutions, a division of TCF National Bank (“TCF”), announced that TCF has acquired BB&T Commercial Equipment Capital, Corp. (“CEC”), which includes a portfolio of approximately $1 billion of equipment finance leases and loans. CEC was Truist Bank’s national small-ticket equipment leasing and finance business. Approximately 60 employees from Truist/CEC have joined the TCF team as a result of the transaction.

Siena Lending Group continues to be a leader in the asset-based lending industry, consistently finding creative ways to offer our clients maximum flexibility and liquidity. We are proud to provide this overview of the financing solutions that Siena delivered in Q4 2020. Siena Lending Group and Siena Healthcare Finance both had busy quarters, closing a combined 10 deals totaling $135 million in facilities. For the year, we completed 25 transactions totaling more than $285 million.

TD Bank, America's Most Convenient Bank®, announced today that it has combined its previous Commercial and Corporate and Specialty Banking teams to create a new Commercial Bank. The new Commercial Bank will drive growth, deliver a better client and colleague experience and create efficiencies.

eCapital Corp. (“eCapital”), a leading alternative finance provider in North America to small and medium-sized businesses, today announced that it has named James Poston as chief sales officer. Poston brings more than 14 years of expertise in receivables financing and asset-based lending to this role. He will oversee eCapital’s sales strategy, drive business development and create unified revenue generation processes across the organization throughout the United States and Canada.