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TSL Express Daily Articles & News

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Cambridge Savings Bank Revamps its Commercial Lending Team, Promotes Ian Brandon to EVP, Chief Commercial Banking Officer
Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and over $7 billion in assets, today announced that Ian Brandon has been promoted to Executive Vice President, Chief Commercial Banking Officer (CCBO).

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Navigating Economic Uncertainty: Key Insights from the SFNet Market Pulse Report
As we delve into the second quarter of 2024, the financial landscape is marked by both challenges and opportunities. The latest SFNet Market Pulse Report provides a comprehensive analysis of various economic indicators, trends, and projections that are crucial for stakeholders in the secured finance (notably asset-based lending and factoring) industries. This article synthesizes the key findings and insights from the report, offering a detailed overview of the current economic outlook, credit markets, consumer finances, sector activity, and global economic trends.

TSL Express Daily Headlines & News

  • Rising Costs from High Inflation and Interest Rates Contribute to a Continued Increase in Large Corporate Bankruptcy Filings through the First Half of 2024
    October 2, 2024
    Large corporate bankruptcy filings continued to climb in the latter half of 2023 through the first half of 2024, according to a report released today by Cornerstone Research.
  • BIOLASE Voluntarily Initiates Chapter 11 Proceedings
    October 2, 2024
    BIOLASE, Inc. (NASDAQ:BIOL) (the "Company"), a global leader in dental lasers, today announced that the Company and its direct domestic subsidiaries have voluntarily initiated Chapter 11 proceedings (the "Bankruptcy Petitions") in the United States Bankruptcy Court for the District of Delaware (the "Court").
  • ADT Inc. Secures $800 Million Extended Revolving Credit Facility
    October 2, 2024
    ADT Inc. (NYSE:ADT), a leader in security and automation solutions for homes and businesses in North America, has announced the successful amendment and extension of its first lien revolving credit facility.
  • David O'Hara Appointed Managing Director of MKP Advisors USA
    October 2, 2024
    MKP Advisors (MKP), a leading global advisory firm, is pleased to announce that David O'Hara has joined the firm to drive the launch of its on-the-ground US operations. Having spent 16 years at Washington Analysis, where he built a strong following around both merger arbitrage and special situations investment strategies, David brings a wealth of knowledge translating complex policy into actionable investment ideas.
  • Advantage Business Capital Provides $2.5MM Invoice Factoring Facility to Industrial Crafts Provider
    October 2, 2024
    Advantage is proud to announce the funding of a $2.5MM invoice factoring facility for Houston, Texas area scaffolding, painting, welding, and machining business.
  • Rosenthal Acquires Accord Equipment Finance, Further Expanding ABL Business, Capabilities and Solidifying Midwest Footprint
    October 1, 2024
    Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending, purchase order financing and inventory financing firm in the United States, today announced the completion of a deal to acquire the assets of Accord Equipment Finance, the equipment leasing division of Accord Financial Corp. (TSX – ACD), the Toronto-based commercial finance company.
  • Revlon Enters Into Senior Secured Asset-Based Credit Facility Led by MUFG
    October 1, 2024
    n September 30, 2024, Revlon Intermediate Holdings III (“Revlon”) and certain of its subsidiaries entered into a five-year senior secured asset-based credit agreement (the “Credit Agreement”) with Mitsubishi UFJ Financial Group (“MUFG”), as administrative agent, and the lenders party thereto.
  • J D Factors Provides $9,875,000 in New Factoring Facilities in September
    October 1, 2024
    J D Factors provided $9,875,000 in new factoring facilities to 40 new clients in the US and Canada during the month of September. Some of these facilities include: A $700,000 factoring facility for a transportation company in Ohio. A $500,000 factoring facility for an oil & gas company in Pennsylvania
  • nFusion Provides $25 Million ABL Facility for Construction Management Company
    October 1, 2024
    Headquartered in the Midwestern United States, this construction management company provides engineering and construction services to numerous Fortune 100 clients in the steel, refining, power generation, natural gas, chemical, automotive, food processing, and pharmaceutical industries. The Company has steadily grown since its founding over 30 years ago.
  • Second Avenue Capital Partners and Ares Management Provide Gabe’s with New $175,000,000 Credit Facility
    October 1, 2024
    Second Avenue Capital Partners (“SACP”), a Schottenstein affiliate, is pleased to announce the closing of a $175,000,000 Senior Secured Revolving Line of Credit for Gabe’s, a leading off-price retailer operating in the mid-Atlantic and Southeast US. The new credit facility, which was provided by SACP and Ares Management Credit funds (“Ares”), will be used to support Gabe’s ongoing growth initiatives, enhance operational flexibility, and strengthen the company’s capital structure.
  • Monroe Capital Supports Relevate Health Group’s Acquisition of Level Ex Games Pharma and Life Sciences Division
    October 1, 2024
    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 the Level Ex Games (“Level Ex”) pharma and life sciences division by Relevate Health Group (“Relevate”), an existing portfolio company of Mountaingate Capital.
  • Crown Partners Serves as Exclusive Financial Advisor on $175 Million Senior Debt Recapitalization
    October 1, 2024
    Crown Partners announced that it served as exclusive financial advisor to a sponsor-backed distributor of a wide range of home services products (the “Company”). In connection with this mandate, Crown arranged a new $75 million ABL revolver for the Company with Siena Lending Group, and restructured an existing $100 million term loan from the Company’s cash flow term lender.
  • Sallyport Commercial Finance Provides Canadian Logistics Leader With $3M in Growth Finance
    October 1, 2024
    Sallyport Commercial Finance is proud to announce the successful funding of $3,000,000 in accounts receivable financing to a leading Albertan logistics and freight company serving the oilfield services industry. The client required the funds to support its daily working capital needs, facilitating continued growth and operational scalability.
  • Beacon Pointe Advisors Bridges New Opportunities Through Further Acquisitions
    October 1, 2024
    Beacon Pointe Advisors ("Beacon Pointe") unveils its latest acquisitions of Bridge Advisory with offices in Pasadena, CA, and Newport Beach, CA, and Charleston Investment Advisors in Mt. Pleasant, SC. Bridge Advisory currently oversees approximately $460M and Charleston Investment Advisors manages $140M in client assets, bringing Beacon Pointe's total assets under advisement to just shy of $37B, resulting in four total RIA transactions in 2024 thus far.
  • Byline Bancorp, Inc. and First Security Bancorp, Inc. Announce Definitive Merger Agreement
    October 1, 2024
    yline Bancorp, Inc. (“Byline”) (NYSE: BY), and First Security Bancorp, Inc. (“First Security Bancorp”) today jointly announced that they have entered into a definitive merger agreement pursuant to which First Security Bancorp and its wholly owned subsidiary, First Security Trust and Savings Bank (“First Security”), will combine with Byline Bancorp, Inc. in a cash and stock transaction valued at approximately $41.0 million based upon Byline’s closing stock price as of September 27, 2024.
  • Dean Dulchinos Joins ORIX USA as Head of Real Estate Credit
    October 1, 2024
    ORIX Corporation USA (ORIX USA) announced today the appointment of Dean Dulchinos as Managing Director and Head of Real Estate Credit. Mr. Dulchinos is based in New York and reports to Jeff Abrams, Group Head of Private Credit and Real Estate and Member, Executive Committee.
  • Mizuho and Golub Capital Announce Strategic Partnership
    October 1, 2024
    Mizuho Financial Group, Inc. (together with its affiliates, “Mizuho”) and Golub Capital LLC (together with its affiliates, “Golub Capital”) today announced a strategic partnership.
  • Team, Inc. Announces Amendment and Maturity Extension of Its ABL Credit Facility
    October 1, 2024
    Team, Inc. (NYSE: TISI) (“TEAM” or the “Company”), a global, leading provider of specialty industrial services offering clients access to a full suite of conventional, specialized, and proprietary mechanical, heat-treating, and inspection services, announced today that it has executed an amendment to its existing ABL credit facility, which consists of a $130 million revolving credit facility (the “Revolver”) and a $27.4 million term loan secured by certain real estate and machinery and equipment.
  • Alkegen Announces New Capital Infusion to Support Growth
    October 1, 2024
    Alkegen, a global specialty materials platform providing high performance materials used in advanced applications and a portfolio company of Clearlake Capital Group, L.P. (together with its affiliates, "Clearlake"), today announced the closing of a refinancing transaction of its outstanding debt.
  • Casella Waste Systems, Inc. Announces Closing of $1.5 Billion Amended and Restated Credit Facility
    October 1, 2024
    Casella Waste Systems, Inc. (Nasdaq: CWST), a regional solid waste, recycling, and resource management services company, today announced that it has entered into a $1.5 billion amended and restated credit agreement with Bank of America, N.A. as administrative agent and lender and a syndicate of other lenders (the “Credit Facility”).

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