TSL Express Daily Articles & News

Crestmark is pleased to announce the appointment of James Jenkins as National Account Executive for the Crestmark Equipment Finance (CEF) group. Jenkins reports to Arick Levine, CEF eastern region sales manager. Jenkins brings nearly 40 years of equipment financing experience to Crestmark. Most recently, he served as senior vice president, director of vendor and head of commercial direct with BCI Capital, where he was responsible for building out a vendor platform and managing a small direct salesforce.

Hovde Group (“Hovde”), a leading full service investment bank and broker dealer that provides investment banking, capital markets, equity research, and sales and trading services focused on the financial services sector, today announced that it has formed a new practice to advise asset management and wealth management companies, led by Mark Timperman as Managing Director and Head of Asset Management Investment Banking.

By order of the US Bankruptcy Court, Middle District of North Carolina, Winston-Salem Division, SC&H Capital, a leading investment bank specializing in M&A advisory, has been retained as the exclusive investment banker to K&W Cafeterias (“K&W” or “the Company”) for the sale of 18 cafeteria-style restaurants. K&W is an 83-year-old, Winston-Salem based, family owned and operated restaurant chain with locations in North Carolina, South Carolina, and Virginia, specializing in made from scratch, home-style southern food at an affordable price.

Conifex Timber Inc. ("Conifex") (TSX: CFF) announced today that it has completed a $10 million secured revolving credit facility (the "Facility") with Wells Fargo Capital Finance Corporation Canada. The Facility is available for a term of 3 years and is substantially secured by Conifex's lumber segment inventory, equipment and accounts receivable.

Metropolitan Commercial Bank today announced that Maryann Metlitz joined the Bank as Vice President, Commercial Lending Officer. She will report to Luke J. Kaufman, First Vice President, Head of Commercial Lending. Ms. Metlitz brings more than 30 years of banking experience to Metropolitan Commercial Bank and has focused exclusively on the finance sector for the last 15 years. She was recently Vice President, Dealer Relationship Manager at BB&T 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 acquisition of MyCase, Inc. by private equity sponsor Apax Partners.

Enova International (NYSE: ENVA), a leading financial technology and analytics company offering consumer and small business loans and financing, today announced it has completed the acquisition of On Deck Capital, Inc. (NYSE: ONDK), a leader in online lending for small business, for $1.89 per share, or approximately $122 million. The acquisition creates a company with significant scale and diverse product offerings in consumer and small business market segments with combined originations of nearly $5 billion in 2019 and approximately seven million customers.

LBC Credit Partners ("LBC"), one of the leading providers of financing solutions to middle market companies, provided a senior secured credit facility to support the investment in Rogers Mechanical Contractors, Inc. by Craft Work Capital Partners, LLC, a specialized joint venture backed by Aterian Investment Partners. LBC served as agent and sole lead arranger for the senior secured credit facility.

Z Capital Group, LLC ("ZCG" or the "Firm"), a leading privately held global investment firm with complimentary private equity and credit businesses, today announced the addition of Egidio Carlino as Director and Jordan Shrem as Senior Associate. Mr. Carlino is responsible for research and analysis of existing and prospective portfolio leveraged finance investments and Mr. Shrem is responsible for trade support and execution. Both will be members of Z Capital Credit Partners' ("ZCCP") Investment Team.

Goldman Sachs BDC, Inc. (“GSBD” or the “Company”) (NYSE: GSBD) announced today that it has completed its previously announced merger with Goldman Sachs Middle Market Lending Corp. (“MMLC”). The transaction has more than doubled GSBD’s asset base to $3.5 billion and has delivered significant deleveraging, which will enable the Company to take advantage of attractive lending opportunities available in the current environment.

Maxim Commercial Capital is pleased to report it funded hard asset-secured financings for small and mid-sized businesses (SMBs) in 32 states during the third quarter of 2020. Despite the year’s exceptional challenges, Maxim has not wavered in its commitment to support the capital needs of existing and prospective borrowers. Maxim lends from $10,000 to $3,000,000 to SMBs nationwide, secured by heavy equipment and real estate, to facilitate asset purchases, working capital and to refinance expensive short-term debt.

TradeCap Partners recently closed two PO Finance facilities totaling $18mm for two government contractors selling personal protective equipment (PPE). One contractor was a woman owned business with extensive experience in sourcing PPE. The other, a team of disabled veterans with strong logistics and sourcing backgrounds.

Briar Capital Real Estate Fund ("BCREF") (www.BriarCapital.com) is pleased to announce it provided a $2.50MM real estate term loan to a Florida brewery. In addition to its multiple award-winning beers, the company also manufactures and packages cold brew coffees with planned expansion into hand crafted ice creams.

Accounts receivable finance company Commercial Funding Inc. successfully funded its first asset-based lending (ABL) transaction, providing $3.5 million for a transportation company.

White Oak Commercial Finance, LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC, announced it provided a $25 million ABL facility to Saadia Group, LLC for the acquisition of two women’s apparel brands from e-commerce retailer, RTW Retailwinds Inc. (“RTW”), which is undergoing bankruptcy proceedings. The funding, completed in less than 30 days, supports Saadia Group’s acquisition of RTW’s e-commerce brands, New York & Company and Fashion to Figure, and their related intellectual property. The company plans to incorporate and promote the legacy brands to further increase its online retail footprint.

Citizens M&A Advisory served as the exclusive financial advisor to EasyWorkforce Software Corporation, a leading workforce management software provider, on its growth equity investment from CFH Strategic Investment I, LLC. Founded in 2011, and formerly known as EasyClocking, EasyWorkforce is globally recognized as a premier workforce management solution provider.

Yieldstreet Private Business Credit (“PBC”) (www.yieldstreet.com/private-business-credit-investment), a provider of single and multi-tranche direct term loans to growing businesses and participations with specialty finance companies, banks, credit funds and private equity-backed companies has closed a total of $42 million after recently announcing the launch of the new PBC vertical on June 23, 2020.

Centric Brands LLC (the “Company”), a leading lifestyle brands collective, announced today that it has completed its financial restructuring and emerged from voluntary Chapter 11 proceedings, implementing the Company’s Plan of Reorganization (the “Plan”) that was approved by the United States Bankruptcy Court for the Southern District of New York.

CSG Investments, Inc., a global buy-and-hold institution headquartered in Dallas, Texas, announces a $200 million senior secured term loan maturing in five years for Kosmos Energy Ltd.'s Gulf of Mexico business unit on September 30, 2020, with funding provided by Beal Bank USA and Trafigura Trading LLC.

HPD LendScape, a leading international secured lending platform vendor, today announces it has partnered with Emirates Development Bank (EDB) to launch UAE's National Supply Chain Finance (SCF) platform, giving UAE businesses improved access to working capital, particularly as they cope with the added pressures of the COVID-19 pandemic.