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Growing firm expands capabilities with a division focused on large deals

Gerber+ provides funding for its first client, Molded Acoustical Products

Gerber Finance, a leading finance partner for companies experiencing accelerated growth, is expanding its portfolio and client offerings with the launch of Gerber+. This new division will service businesses seeking a higher level of funding ranging from $10 to $25 million. Gerber Finance currently focuses on facilities up to $10 million. Gerber is also announcing its first Gerber+ client, Molded Acoustical Products (MAP) of Easton, a full-service insulation manufacturing solutions company.

Gordon Brothers, the global advisory, restructuring and investment firm, and Nations Capital Inc. (NCI) have joined forces to expand the firms’ commercial and industrial market presence and serve a broader range of clients with holistic solutions.

Gordon Brothers’ majority investment in NCI will bolster both firms’ existing commercial and industrial capabilities in North America, which include asset-focused solutions across valuations, dispositions, financing and investment.

good natured Products Inc. (the "Company" or "good natured®") (TSXV: GDNP) (OTCQX: GDNPF), a North American leader in plant-based products, today announced it has completed a senior secured revolving credit facility (the "Senior Credit Facility") with Wells Fargo Bank, N.A. ("Wells Fargo"), through its wholly owned subsidiary Wells Fargo Capital Finance Corporation Canada, consisting of a USD $30 million asset-based revolving credit facility with a 4-year term and an uncommitted USD $25 million revolving facility, available at the discretion of Wells Fargo. In addition, the Company has closed a CAD $6.6 million financing (the "Mortgage Refinancing") with Business Development Bank of Canada ("BDC").

The rate of default and workouts for loans with IP assets as collateral has reached a crescendo. We examine the near-term implications for workouts and liquidations where IP assets are expected to provide a meaningful source of lender recovery, and the longer- term implications for commercial lending to retail and consumer brand companies.

Jeffery Wacker, head of U.S. Asset Based Lending Originations, TD Bank, with contributed insights from Elizabeth Rust, Senior Economist, Keybridge in Washington D.C. and David Chmiel, Managing Director, Global Torchlight Limited from London, U.K.

When first submitted for publication in February, this article predicted a recession of unknown origin. COVID-19 answered the question in March.  While we don’t know how long the current health and economic crises will last, we know they are here, and that a meaningful number of lawyers and businesspeople have not encountered a widespread economic downturn. 

New to working from home? Check out a few quick tips from ENGS Commercial Finance to help transition from working in-office to working at home.

Winston & Strawn LLP is pleased to announce the addition of Rachel Gray as a partner in the firm's New York office and a member of the Leveraged Finance team where she will play a key role in the expansion of the firm's lender designation practice in both the mid and large cap markets.

Rachel is an experienced attorney with insight into both the borrower and lender sides of complex leveraged finance transactions. Rachel represents top-tier private equity sponsors and their portfolio companies in connection with a wide range of transactions, including leveraged buyouts, take-private deals, dividend recapitalizations, out-of-court restructurings and refinancings. 

Wingspire Capital Holdings (“Wingspire”) today announced that it has provided a $36.5 million senior secured loan to R.W. Sidley (“RWS”). Loan proceeds were used to refinance its existing bank facility, while providing a more patient and flexible capital structure to help management achieve its strategic growth initiatives.

Retail has taken a huge hit from COVID-19. What sectors are expected to survive, even thrive? What areas are likely to be hardest hit as the pandemic continues?

Much has been written about the significant impact of the COVID-19 pandemic on the retail sector, as policymakers encourage consumers to wear masks and remain vigilant when leaving home, e-commerce sales have soared, and supply chain concerns persist. Retailers have been challenged to maintain operations and attract current “homebody” consumers, more than 68 percent of whom planned to continue their at home habits after restrictions were lifted, according to a study by management consulting firm McKinsey & Company.¹

Gordon Brothers, the global advisory, restructuring and investment firm, has named Tobias Nanda as President of Brands.

Based in Boston, Nanda is responsible for developing and executing Gordon Brothers’ brand investment strategies through acquisition and lending in all global markets. He has nearly 20 years of experience leading deals, serving on boards of directors and actively working with management teams in private equity to develop and implement their corporate growth strategies.

Heritage Global Inc. (OTCQB: HGBL, CSE: HGP) (“Heritage Global,” “HGI” or “the Company”), a diversified financial services company providing asset-based acquisition, disposition, valuation, and lending services, today announced the launch of Heritage Global Capital, a new platform to provide specialty financing solutions to small- and medium-sized investors in charged-off and nonperforming asset portfolios and other asset-based classes.

MUFG Union Bank today announced that Rob Swanson has joined as Managing Director, Northern California Market President. Based in the Bay Area, Swanson reports to Bita Ardalan, Head of Commercial Banking for Union Bank.

In his role, Swanson will lead the strategy and management of the bank's middle market activities in Northern California and the Central Valley. He will oversee a high-caliber team of professionals providing advisory services and solutions specifically tailored to the unique business objectives of corporate clients across industries, as well as spearhead the Technology and Venture Banking industry verticals within the Commercial Bank.

We all want to return to normal, or the new normal, as quickly as possible.  The question businesses and their stakeholders need to ask themselves is what does normal mean and how can the return be funded.

For most companies, their working capital has been depleted during the shutdown as they struggled to pay employees and keep vendors satisfied, while dealing with impacts to sales and accounts receivable.

Mr. Levy will be responsible for expanding the acquisition team and strategy, with a focus on continuing to source and complete industrial redevelopment transactions throughout North America within Hilco’s real estate redevelopment operating company. Mr. Levy brings an impressive 28-year track record of having delivered and managed over 40 Million Square Feet of acquired real estate totaling $2.5 Billion in assets under management spanning over 5,000 Acres.

Armstrong Teasdale partners provide lenders with up-to-date information on the complexities of lending to the legalized marijuana industry.

Perhaps the most frequently asked question by growth-oriented lenders is “How and when can we lend into the rapidly growing and already major industry of legalized marijuana?”

The answer is: “It is not so simple.”