Many ABL professionals have little to no workout or bankruptcy experience thanks to the past ten years of relative calm. This article details the anatomy of an ABL workout and serves as a primer for many readers and a refresher course for more experienced lenders.

Axiom Bank, N.A., a Maitland-based bank, has expanded its team with the hiring of Todd A. Davock as Senior Vice President, Business Development Officer in its asset-based lending division headquartered in Dallas.

Davock brings nearly 25 years of experience in asset-based lending and commercial finance. In this new role with Axiom Bank’s Commercial Finance division, he will oversee development of the business in the New England area.

O2 Sponsor Finance, a division of Old Second National Bank, today announced that it provided $13,350,000 in senior secured credit facilities to support West Edge Partners acquisition of Dakotaland Autoglass (“DAG” or the “Company”).

DAG is a leading distributor and service provider of aftermarket automotive replacement glass, paint & body equipment. The Company has been a leading supplier to autobody shops and glass installation businesses in the Midwest for over 40 years. DAG operates 12 locations across North Dakota, South Dakota, Minnesota and Iowa, with its main distribution center and headquarters in Sioux Falls, SD.

H.I.G. Capital, LLC ("H.I.G."), a leading global alternative investment firm with over $52 billion of capital under management, is pleased to announce that Daniel Rosenthal Ayash, Bernice Berschader and Micael Hagelin have joined the firm’s Capital Formation Group, based in H.I.G.’s London office.

Daniel joins as a Managing Director and is responsible for managing H.I.G.’s European client partnerships for the firm’s global private equity platform. Prior to H.I.G., Daniel was a Managing Director in Eaton Partners’ Europe, Middle East, and Africa (EMEA) private funds group. Prior to joining Eaton, he was Head of European Fundraising for Patria Investimentos, where he was responsible for all European fundraising.

The way an organization handles change is critical to its success, particularly during periods of uncertainty. In the year 500 B.C., the Greek philosopher Heraclitus observed that life was in flux, with everything constantly on the verge of becoming something else. He noted that resisting this natural flow was a hindrance to progress and growth in all aspects of life.

Resistance, however, has proven to be a very normal human response to change over the centuries and in organizations today, often manifests itself in the form of the formidable Change-Prevention Committee. 

 Bell Bank announces the launch of Bell Business Credit, a national specialty lending team providing asset-based lending and factoring services ideally suited for working capital intensive companies that generate $2 million to $120 million in annual revenue. 

Led by industry veterans Kei Lehigh, who serves as president, and Matt Howe, director of credit and operations, Bell Business Credit further expands Bell Bank’s commercial finance and specialty lending areas. Lehigh and Howe bring to Bell more than 50 years of combined commercial lending experience in this niche. 

Regions Business Capital (RBC) announces that Barry Bobrow has joined as Managing Director, Head of Credit Markets. Barry brings over 35 years of banking experience to this new role, including significant leadership positions in asset-based lending and debt capital markets. 

Food. It’s at the heart of all our lives. We love it – we think about it – we plan it – we talk about it.

Never before has there been so much focus on food: where it comes from, how much it costs and how to keep getting it. Just about all of us who have recently bought groceries think: “Wow – that’s a lot more expensive than it was last year.” When I said that recently to a good friend, she responded that this must be due to inflation and Ukraine. I thought: that is too simple an answer.