TSL Express Daily Articles & News

Gordon Brothers, the global advisory, restructuring and investment firm, has been engaged to sell silica mining and processing assets and plant equipment located in Arcadia, Wisconsin on behalf of Wisconsin Bank & Trust as secured lender. The sale features a 130 ton per hour wet plant, a 200 ton per hour dry plant, as well as a portfolio of over 100 units of associated support equipment, including radial stackers.

The parent company of New York Sports Clubs and Lucille Roberts gyms,Town Sports International Holdings, has filed for Chapter 11 protection in the wake of a cash flow shortage due to the pandemic. The gym is not closing up shop, however. It instead plans to restructure and “emerge as a thriving powerhouse in the fitness industry,” it said on its website. It will continue to operate its facilities, which are mainly located on the East Coast, as it works its way through the bankruptcy process.

H.I.G. Europe (“H.I.G.”), the European affiliate of H.I.G. Capital, a leading global private equity investment firm with more than €34 billion of equity capital under management, announced today the acquisition by an affiliate of a controlling stake in DGS S.p.A. (the “Company”), a leading firm in the Italian information technology industry.

MDLIVE Inc., one of the three largest and fastest growing telehealth companies in the U.S. offering virtual healthcare services in all 50 states, today announced the closing of a $50 million crossover equity investment from Sixth Street Growth, the growth investing arm of Sixth Street, a leading global investment firm. The $50 million funding will be used primarily for the ongoing strategic expansion of MDLIVE's comprehensive, technology-enabled, and disruptive Virtual Primary Care digital health platform.

Strategic Storage Trust IV, Inc. ("SST IV"), a public non-traded real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, Inc., announced a $9.2 million expansion of its term loan with TCF National Bank.

Ameris Bank is deepening its commercial team with the bank's expansion into Tampa and Greenville, its new market strategies in Augusta and Charlotte and its advancement of the treasury and cash management division. The following long tenured and expert bankers have been tabbed to lead these initiatives: Brian Parks has joined the bank as regional president overseeing most of the bank's Florida markets spanning from Jacksonville to Orlando to Tampa. Previously he was with SunTrust, now Truist, for 22 years, where he served as a regional leader, banking commercial and middle market relationships across the Southeast.

SLIM Capital completed a transaction totaling $2.2 million in August 2020, for a tire shredding company in the Lone Star State. These long-time tire recycling veterans have been recycling used tires from various facilities throughout TX. As part of the tire recycling process, there was in excess of 80% of the inventory that was going to waste.

Hilco Global announced today the appointment of Kyle C. Murphy to Managing Director, Business Development of Hilco Valuation and Industrial Services. Mr. Murphy, who is based in Boston, will focus on private equity sponsors, lenders, advisors, consultants, and companies in the northeast region of the U.S. Mr. Murphy joins Hilco Valuation & Industrial Services most recently from J.P. Morgan, where he led business development and loan origination for their Middle Market Banking Group by calling primarily on middle-market private equity sponsors based in New England.

Sallyport Commercial Finance provides a $250,000 accounts receivable facility to a company specializing in the distribution of specialty piping materials.

A&G Real Estate Partners (A&G) has begun marketing leases for approximately 280 store locations across the United States that are being closed by Stein Mart, Inc. in connection with its voluntary Chapter 11 bankruptcy. The firm, which was retained as the retailer’s real estate advisor, is also offering leases for three distribution centers and two office properties.

In the bankruptcy document, Maison Kayser’s U.S. operator Cosmoledo LLC states that it agreed to sell all of its assets to Aurify, the same brand that recently purchased all the U.S. operations for beleaguered bakery chain Le Pain Quotidien for $3 million. It wasn’t immediately clear how much Aurify is paying for the Maison Kayser takeover.

McGuireWoods continues to expand its formidable global banking and finance capabilities with the arrival of partner Linn Mayhew, who joins the firm’s top-ranked debt finance practice in London. Mayhew focuses on international acquisition and leveraged finance for private equity sponsors, alternative investment funds, banks and corporate clients. She advises borrowers and creditors at all levels of the capital structure. She also advises on fund finance, restructurings and general banking matters.

Come February, Jane Fraser will become the first woman to lead a major financial institution in the United States when she takes the reins at Citigroup, the country’s third-largest bank. Ms. Fraser, who has been at Citi for 16 years and runs its biggest global division, the consumer bank catering to individual customers, will succeed Michael Corbat as chief executive.

Hornbeck Offshore Services, Inc. (the "Company") announced that on September 4, 2020 (the "Effective Date") the Company emerged from Chapter 11 pursuant to its Joint Prepackaged Chapter 11 Plan of Reorganization (the "Plan"). The Plan implements the previously announced Restructuring Support Agreement negotiated with the Company's lenders and note holders.

When a private equity owned west coast apparel accessory manufacturer needed more availability and additional liquidity from their loan facility, they choose Republic Business Credit to accelerate their growth through the pandemic. Republic provided a growth orientated facility that gives availability on inventory, merchant accounts and direct to consumer proceeds.

Kirkland & Ellis LLP is serving as legal counsel to the Company, Centerview Partners is serving as the Company’s financial advisor and investment banker, and AlixPartners is serving as the Company’s restructuring advisor.

Highland Copper Company Inc. (TSXV: HI, OTCQB: HDRSF) (the “Company”) announced today that the credit agreement with Osisko Gold Royalties Ltd (“Osisko”) and Greenstone Resources II LP entered into on May 20, 2019 was further amended. Osisko has made available to the Company under the credit agreement an additional amount of US$500,0000, increasing the total indebtedness under the credit agreement to US$5,000,000 plus accrued interest of approximately US$601,000 as of August 31, 2020 (the “Loan”). The maturity date for the repayment of the Loan was extended to October 31, 2020.

Citizens M&A Advisory served as the exclusive financial advisor to Advocate on its recapitalization by Spire Capital. Advocate provides technology business management (TBM) and technology expense management (TEM) services to enterprise organizations to optimize their technology strategy and infrastructure. Spire Capital is a leading New York-based private equity firm specializing in investments in the technology-enabled business services, communications, media and education sectors.

Gibraltar welcomes Paulina Nenadovic to our Operations group in the role of Collateral Analyst. In her new role, she will review and analyze the assets our clients use as collateral. Paulina started her career with JP Morgan Chase/Bank One in Chicago as the Assistant to the Regional Credit Executive of Private Client Services. On the Credit side, Todd Seehase will be joining us as a Senior Vice President and Account Executive. Todd brings thirty years of experience underwriting and managing a combination of middle market, asset-based, and leveraged loans in various roles at RBS Citizens Bank, FirstMerit, and JP Morgan.

FTI Consulting, Inc. (NYSE: FCN) today announced the continued expansion of FTI Capital Advisors (member FINRA/SIPC), the firm’s wholly owned investment banking subsidiary, with the addition of Colin McCafferty as a Senior Managing Director and his investment banking team from McCafferty & Company.