- Comvest Credit Partners Invests $144 Million to Support the Recapitalization and Growth of Sportime Clubs
- eCapital Welcomes Chris Huntington, SVP, Business Development Officer to its ABL Group
- Prominent Structured Finance Partner Joins Latham & Watkins in New York
- Audax Private Debt Provides Financing to Support Comvest Private Equity’s Acquisition of Riccobene Associates Family Dentistry
- Mitsubishi HC Capital America Enhances Best in Class Vendor Portal
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 Names Joe Kernan to Healthcare Finance Position
First Citizens Bank today announced that its Healthcare Finance business, part of the bank’s CIT division, has named Joe Kernan as its new relationship manager. Kernan is based in Pasadena, CA (Los Angeles Metro) supporting healthcare clients in the Western U.S.
TSL Express Trending Story
Featured
SFNet Report on Confidence in Asset-Based Lending Market: Survey Shows Industry is Well Positioned to Weather a Recession
The third quarter saw continued confidence in the asset-based lending market, according to data released by the Secured Finance Network, and that was welcome news as the country wrestles with inflation, rising interest rates and a slowed economy.
SFNet surveyed bank and non-bank asset-based lenders (ABLs) on key indicators for its quarterly Asset-Based Lending Index and SFNet Confidence Index.
“Despite the challenges, the asset-based lending industry remains on solid footing,” said SFNet CEO Richard D. Gumbrecht. “Portfolio performance is strong by historical standards, commitments are up, and lenders anticipate strong demand. Overall, the industry is decently-positioned to weather worsening business conditions and a potential recession.”
TSL Express Daily Headlines & News
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United Capital Funding Issues $21.25MM in Total Credit facilities during Q4 2023
January 30, 2024United Capital Funding Group LLC, a Florida-based factoring firm completed 12 transactions totaling $21.25 million in accounts receivable financing in Q4 of 2023.
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Phoenix Merchant Partners Launches Private Credit Strategy with Close of Innovative Financing Solution to Gryphon Holdings
January 30, 2024Phoenix Merchant Partners, LP ("Phoenix" or the "Firm"), an independent investment firm focused on providing broad financing solutions to the middle-market universe of companies, today announced the closing of its first transaction, an innovative financing to Gryphon Holdings (the "Company"), a company involved in quota share non-catastrophic property and casualty reinsurance services.
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Southern California Bancorp and California BanCorp Announce a Merger of Equals to Create a Premier California Business Bank
January 30, 2024Southern California Bancorp (NASDAQ: BCAL), the holding company for Bank of Southern California, N.A., and California BanCorp (NASDAQ: CALB), the holding company for California Bank of Commerce, jointly announce the execution of a definitive merger agreement, pursuant to which the companies will combine in an all-stock merger valued at approximately $233.6 million, or $26.54 per share of California BanCorp, based on the closing price of Southern California Bancorp on January 29, 2024.
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B. Riley Serves as Exclusive Financial Advisor to AdCellerant LLC in Connection with its Strategic Investment from Clearview Capital
January 30, 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 the exclusive financial advisor to AdCellerant LLC ("AdCellerant" or the "Company") in connection with its strategic investment from Clearview Capital, L.P. ("Clearview Capital").
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National Funding Celebrates Its 25th Anniversary—Championing SMBs Nationwide
January 30, 2024National Funding, one of the largest U.S. specialty financing companies serving small- and medium-sized businesses celebrates its 25th anniversary on January 27. It has provided over $4.5 billion in working capital and equipment leasing for SMBs nationwide.
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Arlington Capital Partners Announces the Formation of Keel, a New Leader in Defense Manufacturing, and its Acquisitions of Merrill Technologies Group and Metal Trades, LLC
January 30, 2024Arlington Capital Partners (“Arlington”), a Washington, D.C.-area private investment firm, today announced the formation of Keel Holdings, LLC (“Keel” or the “Company”), a leading manufacturer of complex structures for the highest priority programs within the Navy, Army, and Air Force.
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SoFi Breaks Down Barriers to Investing By Offering Alternative Investments
January 30, 2024SoFi (NASDAQ: SOFI), the all-in-one digital personal finance company, announced today that SoFi Invest members will now be able to invest in select alternative investment funds, mutual funds, and money market funds. With the launch of alternative investments, SoFi is granting everyday investors access to the power to build and protect their wealth through investment opportunities traditionally reserved for the ultra wealthy.
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Churchill Asset Management Completes $400 Million Middle Market CLO Offering
January 30, 2024Churchill Asset Management LLC, an investment specialist of Nuveen that provides customized financing solutions to U.S middle market-focused private equity sponsors and their portfolio companies, today announced the closing of a $400 million middle market collateralized loan obligation (“CLO”), Churchill MMSLF CLO III, on January 24, 2024.
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Commercial Finance Partners Provides $500,000 AR Financing to Emerging Specialty Staffing Firm
January 30, 2024Commercial Finance Partners announces the funding of a $500,000 accounts receivable (AR) financing facility to a new specialty staffing company. This financial support is designed to enhance the company's ability to manage and expand its operations.
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Mayer Brown Strengthens Global Trade and Structured Finance Capabilities With Addition of Partner Janelene Chen in Singapore
January 29, 2024Mayer Brown announced today that Janelene Chen has joined the firm's Banking & Finance practice as a partner in Singapore, where she will focus on trade and other structured finance transactions. She joins from Norton Rose Fulbright where she was a partner.
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Gridiron Capital Portfolio Company Leaf Home™ Appoints Scarlett O’Sullivan as Chief Financial Officer
January 29, 2024Gridiron Capital, LLC (“Gridiron Capital” or “Gridiron”), an investment firm focused on partnering with founders, entrepreneurs, and management teams, is pleased to announce that portfolio company, Leaf Home™, a leading technology-enabled and direct-to-consumer provider of home improvement products and solutions, has named Scarlett O’Sullivan as the Company’s Chief Financial Officer. I
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PPL Group LLC to Conduct a Large, 3-day Auction Sale of Superior Die Set Corp
January 29, 2024PPL Group LLC is conducting a large, 3-day auction sale of Superior Die Set Corp in Oak Creek, WI. Features late model grinding, vertical and horizontal machining, turning, fabrication, and heat treat equipment. Sale starts January 31.
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Triscoli Joins Entrepreneur Growth Capital
January 29, 2024Entrepreneur Growth Capital (“EGC”) is pleased to announce that Joe Triscoli has joined as Senior Vice President. Based in South Florida, Joe will be responsible for both business development and portfolio management.
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flyExclusive Announces $25 Million Strategic Investment from ETG FE, LLC
January 29, 2024flyExclusive (NYSEAMERICAN: FLYX) (“flyExclusive” or the “Company”), a publicly-traded provider of premium private jet charter experiences, today announced the execution of a two-year revolving credit facility for up to $25.8 million with ETG FE LLC, an investment vehicle managed by EnTrust Global.
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OHA is the Lead Left Arranger of Greenway Health’s Private Unitranche Financing
January 29, 2024Oak Hill Advisors (“OHA”) served as the Lead Left Arranger of a private unitranche financing for Greenway Health, a provider of electronic health record and practice management solutions to the U.S. ambulatory market. OHA committed to half of the $375 million term loan used to refinance the company’s maturing syndicated first lien debt.
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AGS Announces Plans to Explore Refinancing of Its Term Loan Credit Facility and Voluntarily Repay Up to $15 Million of Its Total Debt Outstanding
January 29, 2024PlayAGS, Inc. (NYSE: AGS) ("AGS" or the "Company") today announced plans to explore a refinancing of its term loan credit facility, which may include decreasing the interest rate required to be paid under such facility.
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Union Square Advisors Remains Optimistic That Tech Deal Activity Will Ramp Up in 2024
January 29, 2024Optimistic that deal making will increase this year, Union Square Advisors, a technology-focused investment bank, today released their 2024 Outlook Report, "The Logjam Begins to Break."
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Kirkland’s Secures Additional Debt Financing
January 29, 2024Kirkland’s has secured additional debt financing to support its strategic repositioning efforts. The specialty retailer of home décor and furnishings said it has entered into a supplemental credit facility on Jan. 25, 2024, which will increase its available credit by up to $12 million. Kirkland's Home secured the financing through a new first-in last-out, asset-based, delayed-draw term loan facility.
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Loeb Funds $13.8mm in Term Loans in Q4 2023 to Help Three Companies with Working Capital
January 29, 2024Loeb continues to help their clients in this challenging economic environment where traditional lenders refuse to lend. In Q4 of 2023, Loeb funded $13.8 Million in machinery and equipment term loans in diverse industries. Simply by extracting working capital from their existing M&E, these three companies will continue to move forward without a hitch.
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Atwell Enters Into $200 Million Senior Credit Facility with Lending Group led by Bank of America
January 29, 2024Atwell, a leading consulting, engineering, and construction services firm, has announced that it has secured a $200 million senior credit facility with a lending group led by Bank of America. Also included in the lending group are U.S. Bank, TD Bank, and Old National Bank.
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The Secured Lender
SFNet's 80th Annual Convention Issue