TSL Express Daily Articles & News

The Garrington Group of Companies (“Garrington”) is pleased to announce the launch of IconiQ Finance (“IconiQ”).

Blacksail operates in both Canada and the United States, with key representation in the USA spearheaded by James Franz and in Canada by John Levac. Both have a strong history of success in the Asset Based Lending industry with a specific focus on deals ranging from $1-30 million in size.

The Garrington Group of Companies (Garrington) are pleased to announce the purchase of the assets of Liquid Capital Corp. via the Garrington subsidiary Liquid Capital Enterprises (Liquid Capital.)

At less than US$112bn, 3Q19 US M&A loan volume marked the lowest quarterly result in two and a half years, bringing total issuance for the year to less than US$395bn. Quarter-over-quarter M&A lending via the loan market has been eroding since 3Q18. Issuance for the first nine months of 2019 was down nearly 15% compared to the year-ago period.

The funds were used to pay off the current lender and provide additional working capital for the company.

The transaction was funded with cash on hand and the proceeds from a new senior secured credit facility, which consists of a $48 million senior secured term loan and a $12 million revolver from Goldman Sachs Specialty Lending Group, L.P.

Union Bank today announced Elaine Genevro as Head of Branch Banking for the Regional Bank. Genevro will oversee a network of more than 350 branches throughout California, Oregon, and Washington.

Utica Leaseco completed the funding of a $400,000 true lease secured by machinery and equipment to a hemp processing company located in California.Utica Leaseco completed the funding of a $500,000 capital lease secured by machinery and equipment to a hemp processing company located in Kentucky.

Heritage Southeast Bank announced today that Paul Hoerig has joined the team as Executive Vice President and Chief Credit Officer. Mr. Hoerig will manage all credit-related functions for the company’s three banking regions.

Kinderhook Industries has acquired Copperweld Bimetallics, a supplier of bimetallic wiring products, from THL Credit.

Ankura, a leading global business advisory and expert services firm, today announced the appointment of two new Senior Managing Directors based in London, UK — economist Andrew K. G. Hildreth and infrastructure and capital projects expert Jonathan Roe.

Welsh, Carson, Anderson & Stowe (WCAS), a leading private equity firm focused exclusively on the healthcare and technology industries, announced today that Lee Cooper, an accomplished healthcare executive, has joined the firm as an Operating Partner.

Horizon North Logistics Inc. ("Horizon North" or the "Corporation") (TSX: HNL.TO) announced today that the Corporation recently reached an agreement with its lenders to amend its credit facility.

Named Best in Business Bank, Private Bank and Attorney Escrow Services Categories; Ranks in Top Three in Business Bank Category for 10th Consecutive Year

CWB Franchise Finance (CWB), a division of CWB Financial Group, has partnered with Sterling Group to provide a debt refinance, renovation financing and a revolving line of credit.

Deluxe Entertainment Services Group, the Hollywood production services provider that had been backed by billionaire Ron Perelman, filed for a prepackaged Chapter 11 bankruptcy protection Thursday.

PizzaExpress Ltd. hired financial adviser Houlihan Lokey Inc. to prepare for debt talks with its creditors amid tough trading conditions for U.K. restaurant chains, according to people familiar with the matter.

Encina Business Credit, LLC (EBC) announced today that it has provided a $25 million senior secured credit facility to a pharmaceutical company. The company is focused on developing, manufacturing, and commercializing its three patented products, which aim to treat ADHD.

SSG Capital Advisors, LLC ("SSG") acted as the investment banker to LuckyVitamin, LLC ("LuckyVitamin" or the "Company") in the sale of substantially all of its assets to Lucky Health Group, Inc. ("LHG"). The transaction closed in September 2019.

Fund Finance Partners (FFP) today announced the launch of their new fund advisory business. FFP co-founders Zac Barnett and Richard Wheelahan bring a combined 35+ years of direct experience in the fund finance space. FFP will improve efficiency and investor returns for fund sponsors by optimizing fund and sponsor debt strategies.