TSL Express Daily Articles & News

Porter Capital, a leading provider of accounts receivable financing and asset-based lending solutions for businesses nationwide, has announced it will provide additional funding to businesses in need of more than their current PPP loan offers.

DFG Investment Advisers, Inc., a leading alternative credit investment manager, today announced that it has changed its name to Vibrant Capital Partners, Inc. The new name unifies the firm with its CLO business and several of its investment vehicles, which have operated under the Vibrant brand since 2012. In connection with the renaming, the firm has launched a new website, www.vibrantcapitalpartners.com.

Dwight Funding is pleased to announce that Duy Nguyen has joined the firm as Director of Business Development. In this position, Duy will be responsible for maintaining and strengthening relationships with bank partners, other finance companies, referral sources and clients directly.

Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that it recently completed a new portfolio investment to facilitate the minority recapitalization of Bolder Panther Group, LLC (the "Company" or "Smoker Friendly"), one of the largest retailers of tobacco products in the United States. Main Street partnered with the Company's senior management team and other existing shareholders to facilitate the transaction, with Main Street funding $51.7 million in a combination of first-lien, senior secured term debt and a direct preferred equity investment.

Moritt Hock & Hamroff has announced that Jill T. Braunstein, formerly counsel of the firm, has been elevated to partner, that Brian P. Boland and Christine H. Price, formerly associates of the firm, have each been elevated to counsel, and that Stephen Breidenbach, formerly an associate of the firm, has been elevated to assistant general counsel-technology, effective January 1, 2021.

Clear Thinking Group LLC is pleased to announce the promotion of Brian Allen to Partner effective immediately. Mr. Allen has over 25 years of experience serving in senior finance positions with both public and private companies. As a consultant for the past thirteen years, Mr. Allen has been engaged by numerous companies in the consumer product, retail, and manufacturing industries to improve financial operations and performance through strategic and financial alternatives.

Coronavirus-driven reduction in demand, and operational and supply chain disruptions, have resulted in a material uptick in bankruptcies and distress in the U.S. automotive industry, according to a new Fitch Ratings report.

eCapital Commercial Finance (“eCapital”), a division of eCapital Corp., a leading North American alternative financing solution provider for small and medium-sized businesses, today announced it delivered over $10 million in additional funding to clients with existing factoring facilities during the COVID-19 pandemic to help them meet demand for products and services. The company leveraged its factoring solutions to support businesses with a diverse range of operations from warehouse support to staffing for healthcare professionals to vaccine preparations.

Marathon Asset Management ("Marathon"), a leading global credit investment manager, today announced the final close for its Marathon Distressed Credit Fund, which was oversubscribed with approximately $2.5 billion in commitments. The fund will invest in a wide range of situations by providing capital solutions that allow companies to grow or reposition their businesses, including stressed and distressed companies in transition.

Methuselah Advisors and Morgan Stanley & Co. LLC acted as financial advisors to Scripps and arranged the preferred equity investment by Berkshire Hathaway. Morgan Stanley Senior Funding Inc. provided the financing commitments for the secured and unsecured debt. Ernst & Young Capital Advisors, LLC served as debt advisor.

AlixPartners, the global consulting firm, announced today the promotion of 12 individuals to the role of Managing Director, effective January 1, 2021. Simon Freakley, Chief Executive Officer of AlixPartners, said, "These promotions recognize the inspiring leadership and contributions of our new Managing Directors. I am very pleased to congratulate each of these outstanding colleagues whose work for our clients to help their businesses succeed during these disruptive times is more critical than ever.”

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 acquisition of Serán Bioscience, Inc. (“Serán”) by private equity sponsor Vivo Capital LLC.

Naprotek, Inc. (“Naprotek” or the “Company”) has secured financing from TCF National Bank (“TCF”) and Patriot Capital, LP (“Patriot”) in connection with its acquisition by Edgewater Capital Partners (“Edgewater”). FocalPoint Partners, LLC (“FocalPoint”) served as financial advisor to Edgewater, providing exclusive buyside and debt advisory service in the process. Based in San Jose, CA, Naprotek is an electronics manufacturing services (“EMS”) company and a leading provider of quick turn printed circuit board assembly (“PCBA”) services for high-reliability (“Hi-Rel”) applications in the defense, space, medical, semiconductor, and specialty industrial markets.

TradeCap Partners recently facilitated the closing of a $1,200,000 purchase order finance facility for an importer of household products based in Oregon. TradeCap was introduced by the Company’s financial advisor. Supply chain disruptions caused by the COVID-19 pandemic have left many retail stores with shortages of daily consumable household goods. One major retailer was in need of immediate supply of goods to fill shortfalls of product existing vendors were not delivering on time.

Versant Funding LLC is pleased to announce it has funded a $4 million non-recourse factoring facility to a manufacturer of precision airplane parts with commercial and military applications. The financial performance of this company was negatively impacted by the pandemic and the existing asset-based lender was putting pressure on the business to refinance the facility as soon as possible.

Sun Life Financial Inc. ("Sun Life") (TSX: SLF) (NYSE: SLF) today announced the completion of its 51% majority stake acquisition of Crescent Capital Group LP ("Crescent"), a global alternative credit investment manager. Headquartered in Los Angeles with offices in New York, Boston and London, Crescent has more than 180 partners and employees. Crescent has approximately US$29 billion in Assets under Management (approximately C$39 billion), as of September 30, 2020.

Sheppard, Mullin, Richter & Hampton LLP is pleased to announce that Stacey L. Rosenberg has joined the firm’s Los Angeles office as a partner in the Finance & Bankruptcy practice group. Rosenberg was most recently a partner at Hogan Lovells. She is the 15th partner to join Sheppard Mullin in the last year.

Palladin Consumer Retail Partners, LLC ("Palladin" or "PCRP") (www.pcrp.com) announced today an investment in Leapfrog Brands, LLC ("Leapfrog" or the "Company") (www.leapfrogbrands.com) in partnership with the current owners and senior management team of Kurt Sward, CEO, Rick Ellison, President & COO, Jill Pearson, VP of Sales and Marketing, Glen Gilmore, Director of Design, Austen He, Director of Sourcing and Steve Pinelli, Director of Engineering. The partnership will provide Leapfrog with additional resources to build infrastructure to support its tremendous growth.

CBIZ CMF, the private equity consulting practice of CBIZ, Inc. and a leading national advisor to the middle market, today announces it will operate under the new brand name of CBIZ Private Equity Advisory. Having supported more than 300 private equity firms and over 1,500 portfolio companies across North America, CBIZ Private Equity Advisory offers a robust continuum of high-touch and highly specialized services for every stage of the investment lifecycle, from pre-acquisition through exit.

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 Glenn McMahon has joined the firm as a Managing Director. Glenn has over three decades of experience leading all aspects of the consumer lifestyle value stream.