- Audax Private Debt Provides Financing to Support Comvest Private Equity’s Acquisition of Riccobene Associates Family Dentistry
- Gray Television Makes Significant Progress on Debt Reduction and Replenishes Authorization for Additional Debt Reduction
- Asset-Based Lending & Factoring Surveys
- Sidley Austin Represents J.S. Held in Acquisition of Luttrell Wegis
- BHI Provides $38.7 Million in Financing to EPIRE for the Construction of One Jones Park, A 75 Unit Multifamily Development at 387 8th Street in Jersey City
TSL Express Daily Articles & News
To submit company news and press releases toTSL Express, email tslexpress@sfnet.com.
Today's Top Story
Featured
First Citizens Bank Serves as Lead Arranger on $211 Million Financing for North Carolina Solar Power Development
First Citizens Bank today announced that its Energy Finance group, part of the CIT division, served as sole lead arranger on $211 million in financing for the 200-megawatt Oak Solar power plant in Gaston, North Carolina.
TSL Express Trending Story
Featured
In the coming months, be on the lookout for an increase in seller-financed mergers and acquisitions activity.
For the last several years, the small and midsized business segment was experiencing increasing purchase price multiples fueled by low interest rates and the available credit made possible by banks’ confidence in a robust economy. Owners of solid businesses – motivated by a desire to close deals before anticipated possible changes in the current tax code – staged auctions and entertained multiple competing all-cash offers. Buyers took advantage of easy credit and low rates to deploy a combination of debt and equity, with debt on the portion of a deal supported by commercial real estate often exceeding 70%.
TSL Express Daily Headlines & News
-
Five Star Bancorp Invests in San Francisco Bay Area Expansion Strategy by Hiring five Commercial Banking Professionals and Planning Full-Service Office in San Francisco
February 22, 2024Five Star Bancorp (Nasdaq: FSBC) (“Five Star” or the “Company”) announced the hiring of a team of five seasoned commercial banking professionals in San Francisco to advance the Company’s expansion strategy in the San Francisco Bay Area. The Company also announced it expects to open a full-service office at 345 California Street, San Francisco, in the third quarter of 2024.
-
Morrison Foerster Welcomes Experienced Finance and Private Equity Partner Michael Vernace in San Francisco
February 22, 2024Morrison Foerster, a leading global law firm, is pleased to announce the arrival of Michael Vernace as a partner in the firm’s Finance and Private Equity Groups in the Transactions Department, based in the San Francisco office. Vernace brings to the firm 15 years of experience representing private equity funds and their portfolio companies in complex U.S. and cross-border financings, including acquisition financings and refinancings, along with other public and private companies in varying stages of their lifecycle.
-
Triumph Financial Appoints Michelle Holmes to Chief Marketing Officer
February 22, 2024Triumph Financial, Inc. (the "Company") (Nasdaq: TFIN), a financial holding company focused on payments, factoring and banking, announced today the appointment of Michelle Holmes as executive vice president, chief marketing officer ("CMO").
-
Hornblower Group to Be Acquired and Receive Significant New Equity Investment
February 22, 2024Hornblower Group ("Hornblower" or the "Company") today announced that it has entered into an agreement with its investors that will strengthen the Company's financial foundation and position Hornblower for a successful future. Under the terms of the agreement, funds managed by Strategic Value Partners, LLC and its affiliates (together, "SVP"), a global alternative investment firm, will acquire majority ownership of Hornblower and provide a significant equity investment in the business.
-
CohnReznick Restructuring Team Earns 2023 M&A Advisor Turnaround Award
February 22, 2024CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, has been recognized by The M&A Advisor with the Sec. 363 Sale of the Year Award ($10 MM – 50MM category) for its advisory work in the restructuring and sale of Winc, Inc., a wine club, wholesaler, and online retailer.
-
Monroe Capital Supports Equity Group Investments’ Lanter Delivery Systems
February 22, 2024Monroe Capital LLC (“Monroe”) announced it acted as administrative agent and joint lead arranger on the funding of a senior credit facility to provide continued growth financing of Lanter Delivery Systems, an existing portfolio company of Equity Group Investments, the private investment firm founded by Sam Zell.
-
ABA Report: Bank Economists Express Cautious Optimism About Credit Conditions in 2024
February 22, 2024While bank economists expect credit conditions to continue to weaken compared to the extremely strong position of the last few years, their outlook for the first half of the year is notably more optimistic, according to the American Bankers Association’s latest Credit Conditions Index released today.
-
Star Mountain Capital Bolsters its Secondaries and Client Services Team Adding Warren DeKinder as a Managing Director Based in Dallas
February 22, 2024Star Mountain Capital, an employee-owned, specialized private credit and secondaries investment manager with ~$4 billion in assets under management targeting systematic alpha and low market correlated returns for its clients announced that Warren DeKinder has joined as a Managing Director to focus on engaging with investors as a solutions-oriented partner on investments and potential liquidity needs through Star Mountain’s secondaries business.
-
U.S. Bank Adds New Division to Serve Private Capital Asset Managers
February 22, 2024U.S. Bank today announced it has launched a new division dedicated to serving private capital firms and global asset managers. The Private Capital and Global Asset Management division brings together all parts of the bank that currently serve more than 200 private capital clients with a range of products and services, including fund custody and administration as well as lending and capital markets underwriting and distribution.
-
B. Riley Securities Advises ProSmile Holdings on its Debt Financing from BankUnited
February 22, 2024B. Riley Securities, Inc. ("B. Riley"), a leading middle market investment bank and subsidiary of B. Riley Financial, Inc. (Nasdaq: RILY), is pleased to have served as exclusive financial advisor to ProSmile Holdings, LLC (“ProSmile”), one of the largest and fastest growing Dental Service Organizations (“DSO”) in the Mid-Atlantic region, in its successful debt financing from BankUnited, N.A. (“BankUnited”), a Florida-based commercial bank.
-
Quantum Announces Waiver and Amendment to Term Loan and Revolving Credit Agreements
February 21, 2024Quantum Corporation (NASDAQ: QMCO) (“Quantum or the “Company”) today filed a Form 8-K detailing amendments to the Company’s term loan and revolving credit agreements. These amendments, among other things, waived the covenant requirements related to financial statements prepared in accordance with GAAP for the fiscal quarter ended December 31, 2023.
-
Hyde Park Capital Facilitates Strategic FinTech Acquisition: Data Age Business Systems Joins Forces with Bravo Store Systems in Transformative Retail Tech Merger
February 21, 2024Hyde Park Capital announced today that its client, Data Age Business Systems (“Data Age”), a software company focused on financial transactions solutions, has been acquired by Bravo Store Systems (“Bravo”), enterprise software solutions developer. Hyde Park Capital served as the exclusive investment banker to Data Age for this transaction. Trenam served as legal counsel to Data Age
-
Gateway Trade Funding Provides a $2,500,000 Purchase Order Facility to an Apparel Importer
February 21, 2024An apparel company found itself in need of importing merchandise from China ahead of a substantial seasonal demand. With the looming Chinese New Year, they encountered both financial and time-related pressures. To expedite the process, a factoring company recommended Gateway Trade Funding as a solution.
-
Cambridge Savings Bank Leads $45M Participation Loan for Modera Wealth Management, LLC’s Transaction with Parsec Financial Management, Inc.
February 21, 2024Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and nearly $7 billion in assets, today announced that it was the lead bank in a $45 million participation loan for Modera Wealth Management, LLC (Modera)’s transaction with Parsec Financial Management, Inc (Parsec).
-
Gordon Brothers Commits New Capital to Support KidKraft’s Liquidity & Exploration of Strategic Alternatives
February 21, 2024Gordon Brothers, the global asset experts, has committed new capital to support KidKraft Inc.’s liquidity and continued exploration of strategic alternatives. The U.S. wholesaler of outdoor and indoor children’s playsets will continue to service its supply chain partners as it evaluates strategic alternatives with Gordon Brothers’ financing support.
-
GemCap Implements FGI T.R.U.S.T.™ for Risk Mitigation
February 21, 2024FGI Worldwide LLC (“FGI”), a global leader in commercial finance, today announced that GemCap, Texas based provider of revolvers, term loans and factoring facilities for small and medium-sized businesses across the United States and Canada, has chosen FGI T.R.U.S.T.™ as a risk mitigation solution for client credit insurance policies.
-
SLR Digital Finance Closes $10 Million Credit Facility for GameSquare
February 21, 2024SLR Digital Finance is pleased to announce the funding of a $10 million accounts receivable credit facility for GameSquare, a vertically integrated, digital media, entertainment and technology company that connects global brands with gaming and youth culture audiences focused on the esports and gaming sector.
-
US Capital Global Supports Real Estate Investment Firm with $100MM Credit Facility
February 21, 2024US Capital Global has advised on $40 million revolving line of credit, scalable to $100 million, for a commercial real estate investment firm (the “Company”) based in the South Central region of the United States.
-
Trinity Capital Inc. Provides $120 Million Equipment Financing to Rocket Lab
February 21, 2024Trinity Capital Inc. (NASDAQ: TRIN) ("Trinity"), a leading provider of diversified financial solutions to growth-stage companies, today announced the commitment of $120 million in equipment financing to Rocket Lab USA, Inc. (NASDAQ: RKLB) ("Rocket Lab"), a leading provider of space launch services and advanced satellite technology.
-
Bret Rathwick and Michael Anthony Join Commercial and Industrial Team at Western Alliance Bank
February 21, 2024Western Alliance Bank today announced the appointment of Bret Rathwick and Michael Anthony to the organization’s Commercial and Industrial team. Rathwick assumes the role of Vice President, Relationship Manager at Western Alliance Bank’s Costa Mesa office and Anthony takes on the role of Vice President, Relationship Manager at the organization’s Downtown Los Angeles office.
In This Section
The Secured Lender
SFNet's 80th Annual Convention Issue