TSL Express Daily Articles & News

U.S. Bank is continuing to expand its business banking presence nationally, adding new bankers in Florida, Georgia, Texas and Arizona who serve businesses with annual sales between $2.5 million and $50 million.

JetZero announced the closing of a senior secured term loan facility of up to $100 million. The financing builds on a series of program milestones for JetZero’s all-wing aircraft, designed for the middle market with approximately 250-passenger capacity and a range of up to 5,000 nautical miles.

The secured finance community recently lost one of its most respected members with the passing of William “Bill” Schoenholz, a longtime partner at Buchalter and a highly regarded banking and finance attorney. Bill devoted much of his 45-year legal career to Buchalter, where he served on the firm's Board of Directors and helped shape its growth and success.

Monroe Capital LLC (“Monroe”) announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the acquisition of GG&D Motor Vehicle Services (“GG&D”) by Dealer Services Network, an existing portfolio company of Frontenac.

Rosenthal Capital Group (RCG), the leading private commercial finance firm in the United States, today announced the completion of three recent ABL transactions totaling $9.5 million, originating from the firm’s West Coast office. A California-based minority-owned skincare brand selling to major retailers and direct-to-consumer channels was exploring alternative financing solutions to replace their existing bank financing.

Utica Equipment Finance is pleased to announce the closing of a $1,500,000 capital lease for a construction management, general contracting, and site development firm based in Westchester County, NY. Secured by a broad pool of yellow iron construction equipment including excavators, dozers, wheel loaders, as well as trucks, the lease supports the company's ongoing working capital needs.

Celtic Capital Corporation announced its most recent new client relationship— a Pacific Northwest premier auto transportation and logistics company. This husband and wife Company, founded in 2012, needed to replace some high-cost debt and was referred to Celtic Capital by a trusted intermediary.

Great American Holdings, LLC ("GA Group"), a provider of financial advisory, valuation, asset disposition, investment banking, and lending services and majority-owned by funds managed by Oaktree Capital Management, L.P. ("Oaktree"), today announced the appointment of Scott Hoek as vice president and head of Fixtures, Furniture & Equipment (FF&E).

Womble Bond Dickinson announced today that Joshua Becker has joined the firm's Corporate & Securities Group as a partner in the Phoenix office. Becker advises franchisors, technology companies, and other businesses across the full life of a commercial enterprise, from formation and growth through the sale or protection of what they have built.

Earlypay Limited (ASX: EPY) has completed a major technology transformation designed to make accessing and managing invoice finance simpler for Australian businesses and improve the experience for brokers referring their clients.

As PNC Bank accelerates its growth in Tennessee, the bank has appointed Michael Jannusch to lead Commercial Banking for the region. A 34-year banking veteran, Jannusch will lead PNC’s Tennessee-based Commercial Banking team, which serves local organizations with annual revenues between $10 million and $100 million in sectors such as manufacturing, healthcare and nonprofits, as well as companies in the service-providing industries that are increasingly driving Nashville’s economy.

U.S. Bank is continuing to expand its business banking presence nationally, adding new bankers in Florida, Georgia, Texas and Arizona who serve businesses with annual sales between $2.5 million and $50 million.

Monroe Capital LLC (“Monroe”) announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the acquisition of Escape Fire Protection Inc. (“EFP”) by private equity sponsor Hidden Harbor Capital Partners.

Legacy Corporate Lending, LLC (“Legacy”), an independent asset-based lending (ABL) company focused on serving the needs of middle market companies across North America, today announced that it provided a $40 million asset-based credit facility to National Christmas Products, LLC (“NCP” or the “Company”), a leading wholesaler and e-commerce distributor of artificial Christmas trees, wreaths, garlands, and seasonal décor throughout North America.

Abacus Finance Group, LLC – a leading provider of cash flow-based, senior debt for sponsor-led investments in lower middle-market companies – today announced that it served as Senior Secured Credit Facilities Administrative Agent and Lead Arranger in a senior debt financing to support River Associates’ leveraged buyout of Horsepower Automotive Group. Abacus Finance Group also made an equity co-investment in Horsepower Automotive Group.

Wingspire Capital is pleased to announce it has provided $45 million in first-out secured financing to a leading provider of metal surface finishing solutions for mission-critical components.

The State of California is on the cusp of adopting the annex legislation that directly affects commercial financing providers who make loans and advances to small businesses located in California. This legislation has passed both the California State Assembly and State Senate and is on the Governor’s “desk” for signature or veto.

Franklin Capital Network, a leading provider of flexible working capital solutions to growing businesses, is pleased to announce the addition of Gammie Chung as Vice President, Head of A/R Administration. Chung brings 20 years of commercial finance experience to Franklin, with extensive expertise in factoring, asset-based lending, credit, underwriting, portfolio management, and client relationship strategy.

Crescent Capital Group LP (“Crescent”), one of the leading alternative credit investment firms, announced today the final close of its second captive collateralized loan obligation (CLO) equity fund, Crescent CLO Equity Funding II, with $232 million in commitments. The fund doubled the size of its predecessor, Crescent CLO Equity Funding I, which closed in 2018 with $103 million in commitments.

Honigman LLP announced today that Seth Darmstadter joined the firm as a partner in the Private Equity Litigation Practice Group of the Litigation Department. Seth comes to Honigman from Raines Feldman Littrell, where he was co-chair of its Litigation Department and managing partner of the firm’s Chicago office.