TSL Express Daily Articles & News

Gibraltar prides itself on helping companies and their private equity sponsors seize opportunities when they arise, with enough capital to meet current needs and boost company performance to the next level.

Rockland Trust announced it closed a $30 million revolving line of credit to Milton’s Distributing Co., Inc., a national wholesale distributor and importer of wine, beer and spirits.

First Business Growth Funding, the accounts receivable financing arm of First Business Financial Services, Inc. (Nasdaq: FBIZ), is pleased to announced the closing of a $1.5 million Accounts Receivable Purchase Facility for a former client – a wholesaler of computer equipment and office accessories.

This morning, Celadon Group (OTC: CGIP) executives told its employees that the company filed for bankruptcy protection under Chapter 11 and will shut down the operations of its over-the-road fleet.

Blacksail Capital Partners announced the closing and funding of a $4,500,000 senior credit facility for a Snack Food Manufacturer based in Northeastern United States.

CIT Group Inc. (NYSE: CIT) today announced that its Aviation Lending business, part of its Commercial Finance division, served as sole lender and facility agent on a $35 million secured financing for Icelandair Group, the national carrier of Iceland.

Leonard Green & Partners, L.P. ("LGP") announces the final closings of the firm's eighth flagship private equity investment fund, Green Equity Investors VIII, L.P. ("GEI VIII"), and its inaugural dedicated middle market fund, Jade Equity Investors, L.P. ("Jade"). LGP closed on $12 billion of committed capital for GEI VIII and $2.75 billion for Jade. Both funds were over-subscribed and closed at their respective hard caps.

The largest bank merger since the financial crisis a decade ago was just finalized, giving Charlotte another bank headquarters in Truist Financial Corporation. But it could take up to two years for the transition to the new brand to be complete.

First Eagle Investment Management, LLC (“First Eagle”) and THL Credit Advisors LLC (“THL Credit”) today announced that they have entered into a definitive agreement for First Eagle to acquire THL Credit, a leading alternative credit manager with approximately $17 billion in assets under management as of September 30, 2019.

Bank of Montreal and TD Securities acted as co-lead arrangers and joint bookrunners for the syndication of the revolving credit facility. Also participating in the credit facility are National Bank of Canada, Scotiabank, RBC Royal Bank and Desjardins Capital Markets.

Leading global professional services firm Alvarez & Marsal (A&M) has announced the appointment of David Wong as Managing Director in the Private Equity Services Group in Boston. Mr. Wong will lead the Software Product & Technology Diligence service offering for A&M’s Private Equity Services, further expanding and diversifying the group’s existing Information Technology Due Diligence practice.

Shuttering on-the-bubble stores used to be a no-brainer—but not in today’s era of omnichannel retailing, writes Jon Graub in article for Journal of Corporate Renewal.

Tessa began her career with the company in 2009. She has held various roles within North Mill Capital ranging from Collateral Specialist to Account Executive. She currently oversees a team of cash application specialists in the Minneapolis office, manages a portfolio of clients as well as working on the underwriting of new prospective clients.

Crestmark secured a total of $6,400,000 in ABL financial solutions for seven new clients; Crestmark Equipment Finance provided $8,866,343 in seven new lease transactions; Crestmark Vendor Finance provided $6,374,126 in 81 new lease transactions; and the Government Guaranteed Lending Division provided $10,875,000 in financing for two new clients in the second half of November.

Steel Dynamics, Inc. STLD announced that it entered a $1.2-billion senior unsecured revolving credit facility. Notably, the credit facility is expected to mature on Dec 3, 2024. PNC Capital Markets LLC, BofA Securities, Inc and Wells Fargo Securities, LLC acted as joint lead arrangers and joint bookrunners for the revolving credit facility.

Online auction sale on Dec. 10 is an opportunity for the A/V industry to purchase high-quality cameras, lighting, lenses, audio, tripods, filters and much more.

Arboretum Investment Advisors, LLC ("Arboretum"), a fund manager and SEC-registered investment advisor that specializes in asset-backed and equipment finance funds, has announced that one of Arboretum's propriety equipment leasing funds closed on a $25 million senior credit facility with MidCap Financial, a premier specialty finance firm managed by Apollo Capital Management, L.P.

Blacksail Capital Partners announced the closing and funding of a $5,875,000 senior credit facility for a sponsor owned Industrial Manufacturer based in North Carolina. Proceeds of this term loan are being used for the completion of a brand new manufacturing facility and to support working capital for future growth.

Huntington Business Credit announced it closed a new $40,000,000 credit facility with TeleTracking Technologies, Inc. on October 23, 2019 and closed new $37,240,000 credit facilities with Laminate Technologies, Inc. on October 29, 2019.

Bridge Bank today announced it has extended a senior debt facility to Factor 75 LLC. (Factor), a market-leading, online subscription service that delivers fresh, prepared, restaurant-quality meals that are uniquely positioned at the intersection of food and fitness.