TSL Express Daily Articles & News

Forcepoint, a leading provider of cybersecurity solutions that protects the critical data and networks of thousands of customers throughout the world, and Francisco Partners, a leading global investment firm that specializes in partnering with technology and technology-enabled businesses, announced today that Francisco Partners has signed a definitive agreement to acquire Forcepoint from Raytheon Technologies. Debt financing for this transaction was provided by Credit Suisse. Paul Hastings LLP and Kirkland & Ellis acted as legal advisors to Francisco Partners. Barclays acted as exclusive financial advisor and Davis Polk & Wardwell LLP acted as legal advisor to Raytheon Technologies.

TCF Financial Corp. CEO Craig Dahl will retire, effective today, after helping to lead the $3.6 billion merger of TCF and Chemical Financial Corp., the Detroit-based company announced late Monday afternoon. Dahl, 66, will be succeeded by David Provost, 66, and Thomas Shafer, 62, who was named CEO of TCF National Bank. Shafer, who was also elected vice chairman, will run the day-to-day operations of the bank and is tasked with growing it organically.

LBC Small Cap, an affiliate of LBC Credit Partners, provided a senior secured credit facility and equity co-investment to support Susquehanna Private Capital, LLC’s (“SPC”) acquisition of Authority Franchise Systems, LLC (“Mosquito Authority” or the “Company”). LBC served as Agent and Sole Lead Arranger for the senior secured credit facility. North Carolina-based Mosquito Authority is a franchisor of mosquito, pest, and tick control services throughout the United States, Puerto Rico, and Canada.

EisnerAmper LLP, a leading global business advisory firm, is pleased to announce that Yvette Garcia has joined the firm as a commercial audit partner concentrating on audit & assurance, mergers & acquisitions, public offerings and capital formation.

Hilco Redevelopment Partners (HRP) announced today that it has named Justin Dunn as Senior Vice President of Development of the company’s Philadelphia team, which is working to redevelop a 1,300 acre former oil refinery site in southwest Philadelphia. The project will transform the site into a state-of-the-art, environmentally responsible logistics and commercial campus. HRP is the real estate development unit of Hilco Global and is dedicated to the remediation and redevelopment of obsolete industrial properties.

Matrix Capital Markets Group, Inc. (“Matrix”), a leading independent investment bank, announces the successful closing on the sale of the propane, petroleum, and lubricant operations of Dixie Gas & Oil Corporation (“Dixie” or the “Company”) to Quarles Petroleum, Inc. Based in Verona, Virginia, Dixie is one of the region’s largest independent suppliers of retail propane, heating oil, commercial fuels, and lubricant products serving over 10,000 customers in 17 counties throughout Virginia and West Virginia. Jessica Robinson and Victor Santos of Nelson, McPherson, Summers & Santos, L.C. served as legal counsel to Dixie.

H.I.G. Capital ("H.I.G."), a leading global alternative investment firm with over $40 billion of equity capital under management, is pleased to announce that one of its affiliates has signed a definitive agreement to acquire Capstone Logistics, LLC (“Capstone” or the “Company”), a leading national provider of outsourced supply chain solutions to distribution centers catering primarily to the grocery, food service, retail and CPG industries, from an affiliate of The Jordan Company, L.P. (“TJC”).

Credit Suisse, Goldman Sachs, Antares Capital, Ares, Deutsche Bank, Golub Capital and Jefferies are providing debt financing for symplr's acquisition of TractManager, which was announced today. Additional details of the financing were not disclosed. TractManager, currently a portfolio company of Arsenal Capital Partners, develops technology-enabled compliance and business process improvement services for healthcare organizations.

Flatbay Capital LLC (“Flatbay”) announces the closing of a $4,000,000 commercial real estate loan for Houston-based A&L Valve (“A&L”). Working capital was required to help reduce a significant amount of accounts payables, as well as payoff their existing national bank who recently downgraded the credit. Due to A&L’s recent financial performance, the incumbent bank was unable to refinance the owner occupied real estate.

Calera Capital, a leading middle-market private equity firm, today announced the appointment of Kevin Miller, the former Chairman and CEO of Benevis and Executive Chairman of Prospira Paincare, as an Operating Partner. Mr. Miller will assist Calera in evaluating and building attractive platform investments in the healthcare and business services sectors. Calera intends to commit $40 to $200 million of equity per investment in a range of transaction types which are primarily focused on family or founder-owned businesses.

Capitala Group (“Capitala”), a leading provider of capital to lower middle market companies, announced today that it has made an investment in Mason West (the “Company”), the industry leader in engineered seismic restraint and vibration isolation products. Capitala’s growth strategy investment provided debt and equity capital to the Company to provide for ongoing expansion in the market.

Guggenheim Securities, the investment banking and capital markets division of Guggenheim Partners, announced today that Joe Niemiec has joined the firm as a Senior Managing Director to expand its middle market investment banking coverage and to focus on advising companies in the services and industrials sectors.

Fifth Third Bancorp (Nasdaq: FITB) today announced the appointment of Tim Spence as president. His promotion will support the Company’s ongoing successful execution of its strategic initiatives and further strengthen its position as a leading regional bank. In his new role, effective immediately, Spence will oversee all business lines and regional banking, while continuing his leadership of the Bank’s strategy. It was Spence’s strength in strategy that first brought him to Fifth Third in 2015.

Taronis Fuels, Inc., (“Taronis” or the “Company”) (OTCQB: TRNF), a global producer of renewable and socially responsible fuel products, today announced the closing of a $10 million senior, secured line of credit with Tech Capital, LLC (“Tech Capital”). Tech Capital is a wholly-owned subsidiary of Technology Credit Union in San Jose, California.

Taulia, the leader in working capital technology solutions, has today announced the appointment of Andy Lee as Director, Supply Chain Finance. Based in New York, Lee will be responsible for expanding Taulia's funding partners, building strategic relationships and supporting product development in North America.

CIBC Innovation Banking is pleased to announce a US$52 million growth capital financing with Exeter-based Vapotherm, Inc. (NYSE: VAPO), (“Vapotherm”), a global medical technology company focused on the development and commercialization of its proprietary high velocity therapy, which is used to treat patients of all ages suffering from respiratory distress. Vapotherm will use the funding to repay its existing revolving loan facility and term loan facility.

APi Group Corporation (the “Company” or “APi”) (NYSE: APG) announced today that it has entered into an incremental $250 million term loan facility, further strengthening the Company’s liquidity position. Citigroup Global Markets Inc., U.S. Bank National Association, Barclays, BofA Securities, Inc. and UBS Securities LLC acted as joint lead arrangers and bookrunners for the new term loan facility.

1st Security Bank announces that Robert Nesbitt has been promoted to the position of Senior Vice President, Commercial Lending Team Leader. Robert, who is based at the Bank's commercial lending offices in Mountlake Terrace, Washington, will be overseeing a group of commercial lending relationship managers and administering the continued growth of the Commercial and Industrial lending portfolio.

Funds managed by Brevet Capital (“Brevet”), a leading specialty finance provider with a dedicated focus on the government sector, today announced the successful completion of a $212 million term loan facility provided to Manchester Financial Group, L.P. (“Manchester”), a leading San Diego-based hotel and commercial real estate developer.

Ares Management Corporation (“Ares”) (NYSE: ARES) announced today that Raj Krishnan has joined as Partner and Chief Investment Officer of Ares Insurance Solutions (“AIS”). Mr. Krishnan brings more than 25 years of insurance asset management experience to AIS. He joins from F&G Annuities & Life (“F&G”) where he most recently served as Executive Vice President and Chief Investment Officer, overseeing F&G’s $28 billion investment portfolio. In his new role, Mr. Krishnan will oversee insurance asset management for AIS and help optimize investment returns for more than 100 insurance clients across the Ares platform.